Covers Available
Eligible employees are covered for the following benefits.
This policy provides a tax-free lump sum benefit of 2 times salary in the event of death. Cover ceases at age 75.
Built into the life cover is a terminal illness benefit.
There is an advance payment of the life cover in the event the member is not expected to live beyond 12 months.
Automatic Acceptance Limit: $1, 000, 000
This policy provides a monthly benefit (taxable) if you are temporarily or permanently disabled through sickness or accident. Cover ceases at age 70, whilst a member of the policy.
Cover has a 13 week wait period and a benefit period of 2 years.
- 75% of your annual base salary up to age 65 years*
- 60% of annual base salary 65 years - 70 years*
Automatic Acceptance Limit: $132,000
*Within the automatic acceptance limit
This policy provides a tax-free lump sum payment of $10,000 on medical diagnosis of one of the medical conditions listed on the policy. Cover ceases at age 70, whilst a member of the policy.
Automatic Acceptance Limit: $10,000
Wellbeing One with a $500 excess for the first two years of employment.
Wellbeing Two with a $500 excess becomes available after the first two years of employment.
Eligibility
These benefits are available to the following Genesis Energy employees::
- Permanent Genesis Energy Employees working a minimum of 15 hours per week.
- Aged between 16-70 years (if joining over the age of 65 medical assessment may be required)
New Employees
Eligible new employees join automatically, without the need for any medical declarations.
Top Up Options
New employees may also select top-up options during their first 30 days of employment at concessionary rates, and without medical declarations. Cover limits apply.