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Life and Disability Insurance

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.

This policy provides a monthly benefit (taxable) if you are temporarily or permanently disabled through sickness or accident. Cover ceases at age 65, whilst a member of the policy.

Cover is 75% of your annual base salary, with a 13 week wait period and a benefit period of 2 years.

Automatic Acceptance Limit: $132,000

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 65, 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.