FAQs

Resolution Life is the policy's insurer for these benefits.

These benefits are available to employees who meet the following eligibility

• Life Insurance: All permanent employees of who work 15 or more hours per week and Senior Management, Fixed Term Contractors on a minimum 12-month contract who earn salaries of at least $150,000.
• Income Protection: All permanent employees who work 15 or more hours per week and are not Fixed Term Employees.
• Critical Illness (Trauma): All permanent employees who work 15 or more hours per week and Senior Management, Fixed Term Contractors on a minimum 12-month contract who earn salaries of at least $150,000.
• Receive a salary or a wage 
• between 16-64 years* 

There are some old (legacy) categories, which cover other specific employees, but most current and all new employees are covered under this eligibility rule.

Please refer to the policy wording and terms including full eligibility criteria and definitions.

The insurance offered in these policies are designed to help protect your family, to help clear debts or mortgages and to protect your future income earning capacity. Insurance is a risk management tool that protects you and your family should the unexpected occur.

The benefits provide a sum of money that can be used to clear debts such as mortgages, pay for medical treatment, set up an education fund, pay funeral costs, replace income or to make necessary provisions for the future.

IMPORTANT NOTE: The insurances offered here are not a personalised full financial plan for you and your family. These employee benefits should be considered a starting point for your personal risk needs. You should seek advice from a financial adviser, for personalised advice.

These employee benefits are fully-funded by your employer.

Refer the ‘Top-Up’ tab on this website for details.

Yes, there are voluntary top-up options for employees as follows:

For new employees there is an option to increase cover to the following levels without the need for medical assessment:

• Life Insurance: $50,000, $100,000, or $150,000
• Critical Illness: $5,000 or $10,000
• Income Protection: From a 2 year benefit, to a 5 year benefit

These top-up benefits will be paid by the employee, by way of a pay-roll deduction. The employee has 60 days from the start of their employment to opt-in to these benefits. Contact Mercer Marsh Benefits (see below) for details.

Outside of this timeline, employees can increase their cover up to the following amounts at concessionary rates, but with medical assessment. Acceptance of these benefits is not guaranteed, and the insurer reserves the right to charge higher premium due to pre-existing health conditions:

• Life Insurance: maximum $1,000,000
• Critical Illness (Trauma): maximum $100,000
• Income Protection: benefit payable to age 65.

The amount of premium is calculated based on your age, gender and the amount and type of cover selected. The premium payable will then be calculated, and deducted, in alignment with your salary pay cycle.

Each year on the policy's renewal date, your premium will be adjusted in line with your age and salary.

If any deductions are missed during the policy's year you will remain liable for the missed premium amounts.

Missed premiums could put any potential claims at risk.

Yes, your premiums will change at the policy's annual renewal date in line with your age, salary and cover level at that time.

The underlying risk rate tables are fixed, usually every three years.

Your annual base salary.

Additional income such as incentives, allowances and bonuses are not included.

Which salary figure is used for the insurance benefit calculations?

Your annual base salary.

Additional income such as incentives, allowances and bonuses are not included.

Please email the team at Mercer Marsh Benefits to cancel your policy.

As long as you remain an eligible employee, your insurance will continue until the first of the following happens:

• You leave your employment (continuation options will be available, subject to certain age and occupation constraints – see below),
• Your 70th birthday (for Income Protection and Critical Illness benefits your 65th birthday), whilst a member of the policy.
• The group policy is discontinued.

The following cover(s) would cease in the event of a successful claim:

• Life/ Terminal Illness
•  Critical Illness

Cover continues while on unpaid leave (Leave Without Pay/ LWOP), for up to 12 months.

If you leave employment, you may continue with the Group (and any voluntary top-up benefits). However, there are some strict guidelines. You must complete the continuation option application within 60 days of leaving employment. The insurer will not entertain applications beyond this date.

Income Protection benefits have some further restrictions.

Continuation options are subject to age and occupation constraints and are only available for 60 days after you cease employment. The insurer will not extend this period, so it is important that you let Mercer Marsh Benefits know in good time if you wish to continue with your cover.

The continuation benefits will be re-priced to retail rates and you will need to provide new bank details to ensure that the insurer can continue to collect the premiums due, but no medical declarations are requested.

What happens to my cover if I no longer meet the policy eligibility but I am still employed?

Please contact Mercer Marsh Benefits immediately if you no longer meet the policy eligibility i.e.

• work less than 30 hours per week,
•  reached age 70 (life cover) / age 65 (income protection and critical illness covers),
• or your employment terms have changed.

Please refer to the policy wording and terms including full eligibility criteria and definitions.

You may be eligible to continue with your benefits if you are no longer eligible, using the continuation option. You should notify Mercer Marsh Benefits if you leave or are no longer eligible for the cover.

For more information, please contact Mercer Marsh Benefits.

1st July, annually.

If you have existing cover there are a number of factors to consider before cancelling or reducing any existing insurance. We recommend seeking advice from a qualified Financial Adviser. The adviser who provided your original policy is a good starting point.

Mercer Marsh Benefits has a number of Financial Advisers who are available to provide advice if required.

Please contact Mercer Marsh Benefits if you wish to speak to one of our Advisers.

In the event of a claim, or potential claim, please contact your HR Consultant or Mercer Marsh Benefits.

If a person dies without making a will, he or she is said to have died "intestate".