BT is one of Australia’s leading wealth managers with over $144 billion in funds under management and administration. Based in Australia since 1969, BT started life as Ord Ltd before being bought over by Bankers Trust Company and changing their name to BT Australia Ltd in 1976.
In 1998 BT was taken over by Deutsche Bank before US based Principal Financial Group acquired it in 1999.
In 2002 BT was taken over by Westpac and in 2008 as part of Westpac’s merger with St George, BT merged with St George’s Wealth Management Group, forming one of Australia’s largest wealth management businesses.
BT offers a range of Insurance Products through their Protection Plan policy:
Pays a lump sum benefit upon death or diagnosis of a terminal illness
Pays a monthly benefit if you are unable to work due to sickness or accident
Pays a lump sum benefit if you are unlikely to ever be able to return to work due to a total and permanent disablement.
Pays a lump sum benefit if you suffer from a critical illness that is listed in the PDS.
Helps cover fixed business costs if you are self employed and unable to work due to a sickness or accident.
Additional Insurance Options
Including Child and Needlestick cover.
BT also offers insurance for high net worth individuals through their BT Protection Plan reserves benefit levels as well as cover for professionals with growing income though their Professionals Package.
Built in benefits for BT Insurance clients:
- Guaranteed upgrade – automatically upgrades your policy when better features, benefits or upgrades are introduced.
- Indexation – automatically increases your cover by the CPI each year
- Guaranteed renewable – if your premiums payments are up to date, all BT Protection Plan policies are guaranteed renewable, even if your health, occupation, financial situation or past times change.
- Multi-policy discount – potential discounts if you take out multiple BT Insurance policies.
- Loyalty benefits – if you are a loyal customer of BT and hold a policy for 3 years or longer, you will receive an additional 5% of cover at no extra cost.
Sources: BT Website 18 February 2013, BT Protection Plans Adviser Welcome Guide, 19 March 2012