When the policy ends
The policy will cease automatically when any of the following events occur:
- your credit contract is terminated or cancelled
- you are in default under the credit contract and you have not remedied that default when requested to do so
- you reach the age of 65
- you cease to be an Australian resident
- we pay the maximum policy benefit of $20,000
- we pay the maximum benefit of 36 monthly payments for disability and involuntary unemployment claims in total
- you become bankrupt or enter into an arrangement with your creditors under the Bankruptcy Act 1966 (Cth)
- the policy is cancelled by you or by us
- you die.
In our reasonable assessment, due to medically diagnosed sickness or injury, you are unable to perform the normal duties of your usual occupation.
If you are an employee:
- you stop working as a result of being terminated or being made redundant by your employer, where the job loss is not of your choosing, or
- you accept the terms of redundancy, offered by your employer, due to organisational downsizing or restructure.
If you are self-employed, you stop working and it's not of your choosing, because:
- you stop the business trading permanently or start to wind it up,
- the business is placed in the hands of an insolvency practitioner, or
- for partnerships, you stop trading permanently or dissolve or start to dissolve the partnership.
If you work on a contract or seasonal basis, you stop working as a result of being terminated or made redundant by your employer before the agreed expiry date of the contract, season or task, where the job loss is not of your choosing.
If you leave your job because you have to provide regular and sustained care for a family member without receiving an income (other than Centrelink Carer's Allowance or equivalent), where the accident, condition or disability which caused this need for care, occurred after the policy started.