Learn more about your cover's flexible features

AMP Life 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
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
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
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.
Premium waiver This feature was an option available when you started your policy. If you are totally disabled, you don’t have to pay any life insurance premiums up until age 65. What’s more, if you become involuntarily unemployed you won’t have to pay premiums for three months. TPD, Income protection, Death and terminal illness

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.

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

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Find out more

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

AMP Life Limited (AMP Life) ABN 84 079 300 379 has provided this information, which is general information only and hasn’t taken your circumstances into account.

It's important to consider your particular circumstances and read the relevant product disclosure statement before deciding what’s right for you.

Read our Financial Services Guides 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.

This article refers to life insurance products generally and features may not be applicable to the product you hold. Please contact AMP Life of your financial adviser to discuss your specific policy details.

Issued by N.M. Superannuation Pty Ltd ABN 31 008 428 322 (trustee), the trustee of the National Mutual Retirement Fund, Super Directions Fund, NM Pro Super and AMP Superannuation Limited ABN 31 008 414 104 (trustee), the trustee of AMP Eligible Rollover Fund which are part of the AMP group (AMP). The insurer of this plan is AMP Life Limited ABN 84 079 300 379 (insurer).