GOOD NEWS: EVEN BETTER PROTECTION WITH YOUR HCF LIFE POLICY
We’ve made positive changes to the policy terms of some of our HCF life products. These changes only apply to products that are no longer available for sale.
Effective 1 April 2021, our HCF Life policy terms:
- are easier to understand with updated medical definitions
- include clearer definitions
- remove certain exclusions so you have more protection.
Making improvements like these helps us deliver the uncommon care we’re known for and is another way we're putting the peace of mind and protection of our members first.
WHAT DOES THIS MEAN?
These changes apply to all claimable events that occur on or after 1 April 2021. This means that if you make a claim based on an event that occurred on or after 1 April 2021, your claim will be assessed using the updated more favourable policy terms.
This doesn’t change any of your benefits and does not impact your ability to claim.
UPDATED POLICY TERMS
The changes for all impacted HCF Life products are outlined below.
Your full policy terms now consist of this notification, the PDS, Policy Document and Policy Schedule you received when your policy started and any change notices we've issued to you during the life of your policy.
Please select your product from the following list to locate your applicable updated policy terms.
Policies:
Accident Cash Advantage (AAF, AAS)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
AIDS/HIV Exclusion |
The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Accident Requiring Surgery (ARF, ARS)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
Cash Back Cover (CBF/CBS)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Crisis Cash (CCC)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Extra Cash (EC1)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Extra Help Disablement Benefit (EDS, EDF)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
Extra Help Weekly Cash (EHW)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Family Plan (FPL)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Health and Life Premium (HL1, HL2, HL3, HL4, HLP)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Income Protection (IPC, IPM, IPP)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Life Cover (LCO)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Terminally Ill |
The Terminally Ill definition has been updated. Terminally Ill means any illness or condition where the life expectancy of the Insured Person is less than 12 months, as confirmed by a registered medical practitioner. |
Life & Disability Cover (LDO)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
| Terminally Ill | The Terminally Ill definition has been updated. Terminally Ill means any illness or condition where the life expectancy of the Insured Person is less than 12 months, as confirmed by a registered medical practitioner. |
Medical Trauma Insurance (SMT, FMT)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Permanent Disability Benefit (PDS, PDF)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
Permanent Disability from an Accident Insurance (PD1, PD3, PDA)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
Permanent Disability Benefit Plus (PPS, PPF)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
AIDS/HIV Exclusion |
The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Recovery Cover (RCO)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Salary Continuance Insurance (SCI)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The pregnancy related exclusion has been updated. No benefit is payable to You as a result of a normal and uncomplicated:
|
Serious Illness Cover (SIC)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Smart Term (TD1, TD2, TD3, TD4, TD5, TD6)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
AIDS/HIV Exclusion |
The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Terminally Ill |
The Terminally Ill definition has been updated. Terminally Ill means any illness or condition where the life expectancy of the Insured Person is less than 12 months, as confirmed by a registered medical practitioner. |
Sure Term (SU1, SU2, SU3, SU4, SU5, SU6, SU7, SU8)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Accident definition has been updated. Accident means an event that is:
For avoidance of doubt, Accident doesn’t mean an event that relates to:
|
Terminally Ill |
The Terminally Ill definition has been updated. Terminally Ill means any illness or condition where the life expectancy of the Insured Person is less than 12 months, as confirmed by a registered medical practitioner. |
Lifecover Term Life Insurance
- Level (TLL, LT2)
- Reducing (RT1, RT2, RTF, RTJ, RTM, TLR)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Total Cover (TOT)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Terminally Ill |
The Terminally Ill definition has been updated. Terminally Ill means any illness or condition where the life expectancy of the Insured Person is less than 12 months, as confirmed by a registered medical practitioner. |
Transport Accident Cover (TA3, TAC)
| Policy Term | Updated Policy Term |
|---|---|
| Accident | The Transport Accident definition has been updated. Transport Accident means an event that is:
which results directly or independently of all other causes in Injury while:
For avoidance of doubt, Transport Accident doesn’t mean an event that relates to:
|
Women’s Care (CW1, CW2, CW3)
| Policy Term | Updated Policy Term |
|---|---|
| AIDS/HIV Exclusion | The exclusion relating to AIDs/HIV has been removed. This means the condition is no longer an exclusion of the policy. |
Pregnancy Exclusion |
The following exclusion has been removed: We don’t pay the insured cover if the life insured’s Breast Cancer, Cancer of the Female Reproductive Tract or Skin Cancer-melanoma is the direct or indirect result of pregnancy or childbirth. This means the condition is no longer an exclusion of the policy. |
WE’RE HERE FOR YOU
If you have any questions or would like us to send you a copy of the updated policy terms, call 13 13 34 (Mon-Fri: 8am-8pm, Sat: 9am-5pm AEST/AEDT ).
IMPORTANT INFORMATION
Our Recover Cover products are issued by our own HCF Life Insurance Company Pty Ltd. ABN 37 001 831 250, AFSL 236 806 (HCF Life). HCF Life is a wholly owned subsidiary of The Hospitals Contribution Fund of Australia Limited ABN 68 000 026 746, AFSL 241 414 (HCF). The premiums for Recover Cover products are paid to HCF Life. HCF receives commission from HCF Life for their sale of up to 40% of the first year’s premium plus an additional commission of 80% of HCF Life’s underwriting profit each year calculated as premiums less claims and expenses. HCF’s staff may receive an incentive depending on the annual premium of these products which they sell. This will not exceed 15% of the first year’s premium.