Life Insurance
Illnesses Covered
Accidents Covered
Terminal Illness Benefit
Funeral Advancement
Child Cover
Standard Exclusions
Expiry Age
Illnesses Covered
tick
Accidents Covered
tick
Terminal Illness Benefit
tick
Up to sum insured
Funeral Advancement
tick
10% of sum insured up to $25,000
Child Cover
dollar
Option at additional cost
Standard Exclusions
Suicide within the first 13 months
Expiry Age
99
Illnesses Covered
tick
Accidents Covered
tick
Terminal Illness Benefit
tick
Up to sum insured
Funeral Advancement
tick
10% of sum insured up to $25,000
Child Cover
dollar
Option at additional cost
Standard Exclusions
Suicide within the first 13 months
Expiry Age
99
TPD Insurance
Accidents Covered
Illnesses Covered
Partial Benefit Payable for the Loss of One Limb or One Eye
Life Insurance Buy Back
Minimum Qualification Period
Standard Exclusions
Guaranteed Renewal Age
Expiry Age
Accidents Covered
tick
Illnesses Covered
tick
Partial Benefit Payable for the Loss of One Limb or One Eye
tick
25% of sum insured up to $500,000
Life Insurance Buy Back
dollar
Option at additional cost when TPD is linked to Life Insurance
Minimum Qualification Period
3 months
Standard Exclusions
Intentional self-inflicted injury
Guaranteed Renewal Age
65 or 70 Depending on your occupation
Expiry Age
99
Accidents Covered
tick
Illnesses Covered
tick
Partial Benefit Payable for the Loss of One Limb or One Eye
tick
25% of sum insured up to $500,000
Life Insurance Buy Back
dollar
Option at additional cost when TPD is linked to Life Insurance
Minimum Qualification Period
3 months
Standard Exclusions
Intentional self-inflicted injury
Guaranteed Renewal Age
65 or 70 Depending on your occupation
Expiry Age
99
Trauma Insurance
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
Trauma Reinstatement
Is this a Basic, Standard or Plus Policy
Qualifying Period
Standard Exclusions
Guaranteed Renewable Age
Expiry Age
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
tick
Free when Trauma is linked to Life Insurance
Trauma Reinstatement
dollar
Option at additional cost
Is this a Basic, Standard or Plus Policy
Basic
Qualifying Period
Up to 90 days
Standard Exclusions
Any intentional self-inflicted act or any qualifying periods
Guaranteed Renewable Age
75
Expiry Age
75
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
tick
Free when Trauma is linked to Life Insurance
Trauma Reinstatement
dollar
Option at additional cost
Is this a Basic, Standard or Plus Policy
Plus
Qualifying Period
Up to 90 days
Standard Exclusions
Any intentional self-inflicted act or any qualifying periods
Guaranteed Renewable Age
75
Expiry Age
75
Income Protection
Sicknesses Covered
Accidents Covered
Own Occupation Disablement Definition
Pre-Claims Earnings Calculation Period
Specified Injury Benefit
Trauma Insurance Benefit
Needle Stick Cover
Standard Exclusions
Sicknesses Covered
tick
Accidents Covered
tick
Own Occupation Disablement Definition
tick
Pre-Claims Earnings Calculation Period
Best consecutive 12 months for the 3 years immediately prior to total disablement
Specified Injury Benefit
tick
Trauma Insurance Benefit
tick
Needle Stick Cover
dollar
Option at additional cost
Standard Exclusions
Intentional self-inflicted act, attempted suicide, an act of war, uncomplicated pregnancy or childbirth
Sicknesses Covered
tick
Accidents Covered
tick
Own Occupation Disablement Definition
tick
Pre-Claims Earnings Calculation Period
Best consecutive 12 months for the 3 years immediately prior to total disablement
Specified Injury Benefit
tick
Trauma Insurance Benefit
tick
Needle Stick Cover
dollar
Option at additional cost
Standard Exclusions
Intentional self-inflicted act, attempted suicide, an act of war, uncomplicated pregnancy or childbirth
General
Worldwide Cover
Interim Cover
Cooling off Period
Annual Discount
Multiple Lives Discount
Multiple Cover Discount
Health Rewards Program
Premium Freeze
Standard Exclusions
Worldwide Cover
tick
Interim Cover
tick
Cooling off Period
28 Days
Annual Discount
tick
Multiple Lives Discount
cross
Multiple Cover Discount
tick
Included in displayed price (if applies)
Health Rewards Program
cross
Premium Freeze
cross
Standard Exclusions
Sicknesses or injuries that first appeared, happened or was diagnosed beofre your insurance started or was reinstated that have not been disclosed and accepted by the insurer. Non-disclosure (or inaccurate disclosure) can also void or affect your cover.
Worldwide Cover
tick
Interim Cover
tick
Cooling off Period
28 Days
Annual Discount
tick
Multiple Lives Discount
cross
Multiple Cover Discount
tick
Included in displayed price (if applies)
Health Rewards Program
cross
Premium Freeze
cross
Standard Exclusions
Sicknesses or injuries that first appeared, happened or was diagnosed beofre your insurance started or was reinstated that have not been disclosed and accepted by the insurer. Non-disclosure (or inaccurate disclosure) can also void or affect your cover.

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About BT

BT is one of the many brands of the BT Financial Group Australia which is the wealth management division of the Westpac Group.

BT has become one of Australia’s leading wealth management companies and helps customers manage, grow and protect their money by providing insurance solutions, superannuation and retirement income products, investment, financial advice and private banking.

With more than $136 billion in total investments as at June 2015, BT’s insurance division continues to protect over 1 million Australian’s with various protection products including life insurance and income protection.

YOUR QUESTIONS ABOUT BT ANSWERED

The Westpac Group

Established in 1817, The Westpac Group is the oldest banking corporation in Australia and consists of 5 key divisions:

  • Consumer bank: Assisting Australians with their banking and financial needs.
  • Business bank: Responsible for all sales and services for small-to-medium businesses in Australia.
  • BT Financial Group Australia (BTFG): The wealth management division.
  • Westpac Institutional Bank (WIB): Provides financial services to larger institutions.
  • Westpac New Zealand: The largest New Zealand banking organisation.

Most of these divisions expand to Australia and Asia, the United Kingdom and the United States, serving over 13 million customers across an array of world class services. The Westpac Group has a 31% interest in BT Investment Management and wholly acquired BT Financial Group (BT) in 2002.

Key Statistics

BT Insurance pays over $4 million in claims each week, having paid $208,436,018 in claims to 2,870 clients and their families in 2014 alone. Half of the 2014 claims paid were for Term Life Insurance, and the other half was paid for claims concerning TPD, Living Insurance and Income Protection. With over $136 billion in funds under management and administration, combined with the financial strength of RGA RE acting as their reinsurer, it’s no wonder BT can pay such large claim amounts.

History of BT

The first Bankers Trust Company was established in 1903 in New York, providing trust services to customers of state and national banks on the promise that it would not lure commercial customers away, hence the ‘trust’ part. BT has a strong financial services heritage in Australia beginning 47+ years ago in 1969 when Bankers Trust Australia opened its doors.The Bankers Trust took 40% investment in the newly established merchant bank Ord BT Ltd.

In 1998 Deutsche Bank bought Bankers Trust and sold the Bankers Trust Australian division to the US-based Principal Financial group in 1999, who then sold the BT Funds Management to Westpac Banking Corporation in 2002. Westpac then combined BT Funds Management with the Rothschild asset management business to form an expanded wealth management division of Westpac, called BT Financial Group (BTFG). Six years later, in 2008, BTFG and the St George Wealth Management business merged and formed one of Australia’s largest wealth management businesses.

1903

The Bankers Trust is formed in New York.
BT Australia

1969

The Bankers Trust establishes an Australian division through a partnership with Ord Minnett.

1998

Deustche Bank takes over BT Global Corporation.
BT Insurance

1999

BT Australia Group is acquired by Prinicipal Financial Group.

2002

Westpac acquires BT Financial Group.

2008

St George wealth management merges with BT Financial Group
after St George Bank merges with Westpac.

BT FAQ

BT is a part of the BT Financial Group, the wealth management arm of Westpac.
BT stands for Bankers Trust.
Westpac acquired BT Financial Group from the Principal Financial group in 2002.
BT has been operating in Australia since 1969, but it can be traced back to 1903 when BT was formed in New York.
General Cover Income Protection pays a monthly benefit which covers you if you were to become severely disabled, due to sickness or injury, and no longer able to perform daily living activities, like bathing, dressing or feeding yourself.

The benefit can cover you for up to 75% of your monthly income, with a maximum of $5,000 and should be considered if you are unable to take out a normal income protection policy, due to:

  • Your occupation classified as too dangerous
  • Your participation in dangerous pastimes that are too dangerous to insure
  • Having pre-existing medical conditions that prevent you from getting cover
  • Your current age prevents you from normal income protection eligibility

If you have any questions about taking out a policy with AIA Australia, or concerns about your existing AIA Australian policy, please feel free to ask one of our experts for advice. Alternatively if you’d like to compare AIA Australia with different Australian Insurers, simply navigate to the comparison tool.

Value for Money
3.6
Features & Benefits
3.0
Customer Service
3.3
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