The Bed Confinement Option allows for you to receive a part of your monthly benefit if you are confined to a bed for more than 3 consecutive days during your waiting period.
This is generally an additional option however select life insurance companies may offer this option as part of their standard income protection policies.
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In order to claim under this policy option you must be:
For each day you are confined to a bed during the waiting period you will receive 1/30th of your monthly benefit. Generally this is paid monthly in arrears.
The benefit begins after you have been confined to a bed for 3 consecutive days. Select insurers may include the first 3 days of your confinement period in your benefit, however generally your benefit will only begin after the first 3 days.
The benefit may end:
Generally, life insurance companies will only start paying your regular income protection monthly benefit once the waiting period is over. However the Bed Confinement Option allows to start receiving a portion of your benefit even during the waiting period.
Bed confinement is generally when you are:
Please note that different policies may have additional requirements and it is important to consult the Product Disclosure Statement or speak to one of our staff.
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