Learn more about your cover's flexible features

AMP Life's Elevate offers a range of life insurance products and cover types that can help get you and your family back on track if things go wrong.

Understanding what your insurance covers you for and the features it offers can help you make the most of your policy. The following is a highlight of the features that your Elevate policy may have, please refer to the current PDS or policy you hold for specific details applicable. This article does not consider your individual circumstance, you may wish to speak to your adviser about the way the way these features operate and how they may apply to your circumstance.

Types of cover

Our Elevate insurance cover can provide valuable payouts when you need them most. Generally, it includes these cover types:1

Death and terminal illness cover

Can provide a payout to your beneficiaries (usually your family) if you pass away, or if you are diagnosed with a terminal illness.

Income protection cover

Can provide financial support if you become temporarily unable to work due to injury or illness by replacing up to 75% of your income during this time.

Total and Permanent Disability (TPD) cover

Can provide a payment if you become totally and permanently disabled and are unable to work.

Trauma cover

Can provide a lump sum benefit if you are diagnosed with a certain illness which affects your ability to work, such as cancer or a stroke.

Business expenses cover

Can provide a monthly benefit if you have a business and you become totally or partially disabled through an injury or illness, and you are unable to work.

Product features

Our Elevate insurance products may include some of the features listed in this table, which are designed to make your cover valuable and flexible. Make sure you check your Product Disclosure Statement (PDS) to see which features your product has.

 Feature  What it means for you What cover it applies to
Advancement of funeral expenses We will pay either $20,000, or your sum insured amount in advance (whichever is lowest) to cover funeral expenses.
Death and terminal illness
24-hour worldwide cover You’re covered 24 hours a day, no matter where you are in the world.
Death and terminal illness, Income protection, TPD, Trauma
Accommodation benefit
If you are confined to bed and your immediate family member needs has to stay in alternative accommodation to visit you, we’ll pay their accommodation costs of up to $150 a day, for a maximum of 14 days.
TPD, Trauma, Death
Automatic inflation
You can choose to have your benefit automatically increased each year. Your cover will increase by an amount specified in your policy document.
TPD, Trauma, Income Protection, Death
Benefit period
This is the maximum period of time that you will be paid your monthly income protection benefit. Your benefit is a percentage of your income as specified in your policy documents. Your benefit period could be from 1 year up to a benefit period to age 70.
Income protection
Future insurability You can purchase extra cover each year without medical underwriting for certain major life and business events that could happen. Trauma, Death, TPD
Premium freeze You may be able choose this option to freeze your current premium, so the price doesn’t increase. While that means your premiums won’t increase, your benefit amount will reduce each year. Death and terminal illness, Income protection, TPD, Trauma.


Trauma or TPD cover buyback

If you elected this option when you started your policy, you may have the ability to reinstate your cover once you’ve claimed on your Trauma or TPD insurance policy and received a lump sum payout. You should refer to your policy schedule for details on your insurance policy and what you’ve elected to be covered for.



1
Check your Product Disclosure Statement (PDS) for more details about the cover your product offers.

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If you have any questions about your insurance, speak to your financial adviser or call AMP Life.

AMP Life

Monday to Friday 8:30am – 7:00pm (AET)

Important information

Issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group.

Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. All information on this website is subject to change without notice.