Read the Product Disclosure Statement

You can either download the PDS (in PDF format), or read it in full below.

The Life Insurance Plan is promoted by InsuranceLine Pty Ltd, and is insured by TOWER Australia Ltd.

Who can apply for the Life Insurance Plan?

All Australian residents aged 18 to 59 next birthday can apply generally without a medical, and once accepted you are guaranteed cover right up to age 70 next birthday. All it takes is a phone call.

What am I covered for?

You're covered worldwide, 24 hours a day, 7 days a week, for any cause of death, except for suicide or intentional self-injury in the first 13 months.

What's the cooling off period?

You get 30 days to make sure you are 100% happy with the policy. If not, simply return it for a full refund - there's no risk to you! It is guaranteed.

How much does it cost?

Cover is available up to $1,000,000 per life insured.

Standard Monthly Premium Rates for $100,000 cover

After assessing your application, your premiums may increase depending on your health and lifestyle information.

Premiums increase each year with age and cover and continue to age 70 next birthday. Other ways they can also increase are explained below. Discounts apply for joint policies and cover amounts over $500,000.

If I cancel my policy, do I get anything back?

If you cancel within 30 days of your policy being issued you will get a refund of any premiums paid. The Life Insurance Plan is not a savings plan and has no residual cash value, so if you cancel after the first 30 days you will not get anything back.

How do I find out the premium that applies to me?

Just call InsuranceLine on 13 77 87. Answer a few simple questions over the phone to find out the premium that applies to you.

What happens if I stop paying my premiums?

The cover provided by the Life Insurance Plan will cease. We will inform you when your cover has ended.

Will my premiums ever increase?

The underlying premium rates are not guaranteed but once your cover has started you will never be singled out for a premium rate increase, and any increase will be applied to all policyholders, with 30 days written notice. Premiums increase as the life insured moves to the next age band or if you increase cover. Premiums increase each year to allow for the automatic adjustment for inflation (CPI or 5%, whichever is greater).

Can I get a discount?

Yes! There are a few instances when discounts apply.

	1.	A 25% discount can apply to cover amounts over $500,000.
	2.	Pay annually and receive one month free, and
	3.	Cover your partner as well and your premiums will be discounted even further.

Who do I contact if I have a complaint?

In addition to promoting the Life Insurance Plan, InsuranceLine is also currently responsible for the day-to-day administration of the Life Insurance Plan under an agreement with TOWER to provide administration services for Life Insurance Plan policies.

If at any time you have a dispute or complaint about your policy please contact the InsuranceLine Customer Service Centre in the first instance on 13 77 87 or in writing to Reply Paid 62, Carlton South, VIC 3053. Should you wish to escalate your complaint please ask to speak to the Complaints Officer who will handle your matter personally. InsuranceLine will be acting on behalf of TOWER in addressing any complaint relating to the policy. If you feel your complaint is not resolved within 45 days of reporting it to InsuranceLine, you may refer your complaint to an external dispute resolution service - the Financial Ombudsman Service (FOS) - on 1300 780 808 or in writing to GPO Box 3, Melbourne, VIC, 3001. To use this external free service you must have first used the above internal dispute resolution service.

The information in this PDS is general advice only. It does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of this product having regard to your objectives, financial circumstances and needs.

If you have any further questions about the Life Insurance Plan just call InsuranceLine on 13 77 87, 8am to 8pm. Or write to InsuranceLine, Reply Paid 62, Carlton South VIC 3053, fax them on 1800 730 099 or email insuranceline@insuranceline.com.au.

The Life Insurance Plan is promoted by InsuranceLine Pty Limited, Level 3, 4 Martin Place, Sydney, NSW 2000, ABN 39 084 666 017, AFSL No 243260

The Life Insurance Plan policy is insured by TOWER Australia Limited, 80 Alfred Street, Milsons Point, NSW 2061, ABN 70 050 109 450, AFSL No 237848

This PDS is issued by TOWER Australia Limited on 01/01/2010. From time to time updates about this product will be published by TOWER on the InsuranceLine web site at www.insuranceline.com.au The InsuranceLine Life Insurance Plan is a trademark of InsuranceLine Pty Limited.

This summary describes how the direct debit request system works. Upon issue of your policy, you will also receive a full copy of the Direct Debit Request Service Agreement. You should read the Agreement carefully as it explains your rights and obligations relating to your ongoing direct debits.

When you complete your bank details and sign the authority, you are authorising the direct debit of the appropriate premiums from your nominated account. Your authority will be kept confidential at all times.

If your premium cannot be paid (for example there's not enough money in your nominated account) your bank may dishonour that payment, in which case your policy may lapse and all cover cease.

If you have concerns about its operation or you subsequently need to change any aspects of the authority, please notify us.

From time to time updates about our services which are subject to change and which are not materially adverse to you may be found on the InsuranceLine website at www.insuranceline.com.au and if you request a paper copy of any updated information, this will be provided to you without charge.