Group Insurance

Depend on our people to protect your people

As working practices evolve and living costs rise, it's important to offer your employees or super fund members relevant insurance cover. Our flexible range of cover options allows you to choose the features and benefits that best suit your needs.

Group Insurance may suit if you’re:

  • an employer or super fund trustee looking for a competitive and flexible insurance option for your employees or members
  • looking for a way to enhance your employee or member benefits package.
 

Here’s what you get:

  • options for life or salary continuance cover
  • access and support from our underwriting, administration and claims teams.
     

How we can help

AMP Group Insurance provides the following cover options:

  • Group Life—We pay a lump sum benefit in the event of death, terminal illness or permanent disablement. See the full features.
  • Group Salary Continuance (GSC)—We pay a monthly benefit to replace lost income for a defined period in the event of temporary illness or injury.

We can help you tailor a solution for your needs, such as a combination of cover for death, permanent disablement and GSC insurance.
 

For general enquiries about new and existing AMP Group Insurance policies, please contact our service centre.

1300 550 015

Monday to Friday
8am – 8pm (AEST)
Saturday and Sunday
9am – 5pm (AEST)

How can you benefit from group insurance?

Group insurance offers the following benefits to you, your employees or members.

  • Premiums are generally cheaper than individually held insurance cover.
  • Automatic acceptance of insurance cover is available for most plans. This can speed up the process of getting insurance because your staff can generally obtain cover up to the automatic acceptance limit without a medical check.
  • A suitable insurance plan can appeal to potential employees looking for a workplace with an established benefits package.

The following are the key features of our group life cover.

Benefit Benefit description
Entry age 15th to 70th birthday (death) and 15th to 65th birthday (total and permanent disablement (TPD)).
Maximum expiry age 80th birthday (death and TPD).
Maximum benefit age Unlimited(i) (death) and $5 million(ii) (TPD).
Death benefit Provides a benefit payment in the event of death.
Terminal illness benefit We will make an advance payment of the death benefit if a person insured is terminally ill and has less than 12 months to live.
Extended cover Provides cover up to 60 days where a person leaves employment with the employer and ceases to be eligible for cover under the policy.
Interim cover Provides cover where a person insured or an eligible person who has not yet been accepted for cover is being underwritten. Cover limits apply. 
Guaranteed renewable contract We guarantee to renew the policy each year, provided the premiums are paid and the terms and conditions of the policy are met.
24-hour worldwide cover Cover for a person insured is provided 24 hours a day depending on the circumstances of overseas travel.
Optional benefit  Benefit description
TPD benefit Provides a benefit if a person insured becomes totally and permanently disabled from employment.
Life events cover Allows persons insured to increase their benefit without underwriting when the following events take place—marriage, divorce, birth or adoption of a child, taking out a mortgage on a primary residence for renovations/extension or a child turning 12.
Continuation option Allows persons insured who leave employment and cease to be eligible for cover under a group insurance policy to continue their cover under an individual insurance plan.

Download our product disclosure statement for more information.

(i) Subject to automatic acceptance and underwriting terms

(ii) A maximum benefit amount of $3 million may be paid when a person insured satisfies part (a) Unlikely to work, as per the TPD definition. When the benefit is greater than $3 million, the amount in excess of $3 million may only be paid when the person insured satisfies parts (b) Specific Loss or (c) Future Care, of the TPD definition. The TPD sum insured may be reduced from ages 60 to 70. See Reduction of TPD benefits in our PDS for more details. From the 65th birthday of the person insured, the maximum TPD benefit is $3 million. From the 70th birthday of the person insured, the maximum TPD benefit is $250,000, and it will only be paid when the person insured satisfies parts (b) or (c) of the TPD definition. Subject to automatic acceptance and underwriting terms.

The following are the key features of our GSC cover.

Benefit Benefit description
Entry age 15th to 65th birthday.
Maximum expiry age 65th birthday(i).
Maximum sum insured 75% of $480,000 pa income $30,000 per month(ii).
Total disability benefit Provides a benefit if a person insured is unable to work due to sickness or injury.
Benefit period Flexibility of periods including two years, five years or age 60 and age 65.
Waiting period Option to select 30, 60, 90 or 180 days before a benefit will start to be payable.
Partial disability benefit Pays a benefit if a person insured can only work in a reduced capacity due to sickness or injury after 14 consecutive days of total disablement.
Extended cover (not available for superannuation plans) Provides cover where a person insured leaves employment with the employer and stops being eligible for cover under the policy.
Death benefit Pays a lump sum benefit upon death.
Recurrent disability benefit We will pay a benefit without applying another waiting period where a person insured returns to work and the disability recurs.
Interim cover  Provides cover while a person insured or an eligible person is being underwritten. Cover limits apply.
Guaranteed renewable contract We guarantee to renew the policy each year, provided the premiums are paid and the terms and conditions of the policy are met.
24-hour worldwide cover

Provides cover for a person insured for 24 hours a day depending on the circumstances of overseas travel.

Employer superannuation contributions benefit Provides a benefit to cover the cost of employer superannuation contributions payable regarding a person insured for whom we are paying a monthly benefit.
Option benefit Benefit description
Continuation option Allows an insured person who leaves their employment and ceases to be eligible for cover under a group insurance policy to continue their cover under a personal income protection plan.
Escalation benefit The monthly benefit amount will increase each year by the lower of the annual percentage increase in either the consumer price index (CPI) or the policy escalation percentage (5% or 7.5%)(iii).
Nursing care benefit Provides a benefit where a daily amount is paid for up to the length of the waiting period subject to a maximum of 90 days to help with nursing expenses where the person insured requires the continuous full-time care of a registered nurse.
Family carer benefit Provides a benefit if a family member of a person insured stops earning all his or her own income to care for the person insured who is totally disabled.
Trauma benefit Provides a benefit if a person insured suffers a specific sickness or injury.

Download our product disclosure statement for more information.

(i) Option for cover after age 65 in some cases.

(ii) Cover up to $50,000 per month is available in certain circumstances.

(iii) We will not pay a benefit that exceeds $30,000 per month.

With an AMP Group Insurance plan you’ll benefit from individual service. A dedicated administrator will have responsibility for the smooth operation of each plan.

Our commitment to our defined administration service levels ensures efficient and consistent service across a range of procedures, including:

  • responding to queries
  • initiating annual reviews—we'll prompt you to send member details
  • claims and underwriting eligibility
  • completing annual reviews using our exclusive annual review tool
  • requesting monthly premiums
  • paying commission.

For more details please refer to our:

You can also contact one of the following business development representatives:

If you’re in South Australia, Tasmania, Victoria or Western Australia:
Chris Lykokapis
Telephone: 03 8688 2078
Mobile: 0401 992 680
Email: chris_lykokapis@amp.com.au

If you’re in New South Wales or Queensland
Rachel Wilson (nee Savage)
Telephone: 02 9257 7819
Mobile: 0405 790 448
Email: rachel_wilson@amp.com.au

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Important information

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It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. 

This information is provided by AMP Life Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.  

The issuer of AMP Group Insurance is The National Mutual Life Association of Australasia Limited.

The credit provider and product issuer of AMP Bank products is AMP Bank Limited, Australian credit licence 234517.