Your questions answered.

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General

What is miPlan’s Online Life Insurance?

miPlan’s online life insurance product provides a quick and easy way for you to get up to $1 million of Life and Disability cover directly online. In around 10 minutes you can compare life insurance quotes and complete an online life insurance application.

Applications Process

Underwriting

When you apply for retail insurance you have to be considered by an underwriter to determine if they will offer you cover.

Their decision will be to:

  • accept at standard rates
  • accept with an exclusion (eg. no claim may be made for a back issue, due to pre existing condition)
  • accept with a loading (eg. a 50% loading applied to your income cover because you play football)
  • decline

Their decision will be influenced by what you do, your financial situation, and your medical history, including the medicals background of your immediate family.

Disability Insurance

Personal Insurance

How long does the claims process take?

The time taken to process a claim can vary depending upon the situation. In general, however, once all the required information has been correctly submitted, the average time to process a claim is approximately 1 week.

What information do I need when making a Disability Claim?

One of the best ways to ensure claim processing goes smoothly is to ensure all the required information is submitted with the claim form. When making a Life Insurance claim, the following information is required:

  1. Claim form
  2. Medical evidence of total and permanent disability
  3. Verify remaining requirements with the product provider

What information do I need when making a Life Insurance claim?

One of the best ways to ensure claim processing goes smoothly is to ensure all the required information is submitted with the claim form. When making a Life Insurance claim, the following information is required:

  1. Claim form
  2. Certificate of Death
  3. Verify remaining requirements with the product provider

How long do I have to make a claim?

In theory, there is no time limit on making a claim. What’s important is that the policy was in force at the time the insured died or became disabled. In practice, it’s always beneficial to get your claim processed as quickly as possible, while all pertinent detail is fresh and readily available. Visit our Claim’s Service Page for more information about making a claim.

Online Life Insurance

What is miPlan’s Online Life Insurance?

miPlan’s online life insurance product provides a quick and easy way for you to get up to $1 million of Life and Disability cover directly online. In around 10 minutes you can compare life insurance quotes and complete an online life insurance application.

What benefits does miPlan’s online life insurance provide?

The primary benefits of MiPlan’s insurance are:

  • Up to $1,000,000 in Life and Total & Permanent Disability cover
  • Quick and easy online application process can be completed in around 15 minutes
  • No medical tests or reports required
  • Underwritten by one of Australia’s top insurance providers

If you are looking for more comprehensive cover, such as Income Protection or Trauma Insurance, miPlan can also help. We are risk specialists with access to all of Australia’s leading life insurance products.

Can I change my mind after applying?

Yes! From the date your application is accepted, there is a 30 day cooling-off period. During this time, providing you haven’t made a claim, you can return the policy document and policy schedule, with a written request to cancel the policy. All money paid will be refunded upon cancellation of policy.

What happens to my Life Insurance if I make a disability claim?

When Total and Permanent Disability (TPD) cover is attached to a Life Insurance policy, you can only claim for disability OR life insurance. In the event you are paid a benefit for a successful total and permanent disability claim your policy will cease.

It is possible to obtain standalone TPD cover. If you would like help obtaining this type of cover, please contact us today and one of our risk specialists would be happy to assist you.

What happens if I travel overseas after obtaining insurance?

Once you have successfully obtained insurance, you are free to travel overseas and your insurance will remain in force.

Your insurance cover generally applies 24 hours a day anywhere in the world, although some insurers exclude countries with a “Do Not Travel” warning.

More detail about miPlan’s products can be found on our Products Pages

Is this product available if living outside Australia?

No, to apply for the MiPlan insurance products you must:

  1. Be a citizen or permanent resident of Australia
  2. Hold residence in Australia at the time of application

Will my insurance premiums increase?

Yes, the premiums of your insurance policy will increase. The reasons for this are as follows:

  1. You insurance benefit increases each year to keep pace with inflation
  2. You are getting older every year, which increases the risk for the insurer

Some insurance policies do offer a “level premium” feature whereby premiums do not increase with age. If you would to learn more about these alterative products, please contact us and we will have one of the risk specialists at our partner company, BHA, contact you.

Can I have a different level of disability insurance to life insurance?

No. If you choose to add Total and Permanent Disability insurance as an option on your Life Insurance policy, the disability benefit amount must be the same as the life benefit amount.

Generally speaking, when it comes to total and permanent disability, most families’ needs are equal to or greater than they are in the event of unexpected death.

Is Disability Cover available without Life Insurance?

No. (Total and Permanent) Disability Cover is only available through miPlan when attached as an option on the life insurance policy. This helps keep premium costs down.

If you would like access to a Disability Only insurance product, please contact us and we will have one of the risk specialists at our partner company, BHA, contact you.

How long does the claims process take?

The time taken to process a claim can vary depending upon the situation. In general, however, once all the required information has been correctly submitted, the average time to process a claim is approximately 1 week.

What information do I need when making a Disability Claim?

One of the best ways to ensure claim processing goes smoothly is to ensure all the required information is submitted with the claim form. When making a Life Insurance claim, the following information is required:

  1. Claim form
  2. Medical evidence of total and permanent disability
  3. Verify remaining requirements with the product provider

What information do I need when making a Life Insurance claim?

One of the best ways to ensure claim processing goes smoothly is to ensure all the required information is submitted with the claim form. When making a Life Insurance claim, the following information is required:

  1. Claim form
  2. Certificate of Death
  3. Verify remaining requirements with the product provider

How long do I have to make a claim?

In theory, there is no time limit on making a claim. What’s important is that the policy was in force at the time the insured died or became disabled. In practice, it’s always beneficial to get your claim processed as quickly as possible, while all pertinent detail is fresh and readily available. Visit our Claim’s Service Page for more information about making a claim.

What happens if I don’t meet all of the medical requirements?

MiPlan’s insurance product was specifically designed for people with a clean medical history. Unfortunately this means that some people will not qualify.

For those who don’t quality, however, there are a number of other products available through our partner organisation BHA. The application process may take a little bit longer but the outcome will be the same; peace of mind that you’re protected against the unexpected.

More information about alternative product solutions can be found on BHA’s website at www.bhafinance.com. Alternatively you can call them today on 1 300 BHAFinance.

What information is collected during the application process?

As well as your standard personal details, you will be asked for the following information:

  1. Whether or not you or immediate family members have every suffered from a range of medical conditions
  2. Credit card or direct debit details for payment of premiums
  3. Personal details (including contact information and date of birth)

What are the age requirements for MiPlan’s insurance?

Age restrictions vary across products. For more information, please view our Product Guide, which can be found in our Products Section.

Is this product the cheapest?

The price of insurance varies greatly, and is influenced by a number of factors such as your personal situation (e.g. age, gender, smoking status), the amount of underwriting conducted by the insurer and business factors such as marketing spend, administration costs.

MiPlan’s goal is not to sell the cheapest insurance available. Our goal is to enable easy access to quality cover that will protect you as expected. The last thing we want is for you to learn at claim time that you’re not covered as expected.

That said, as you’ll see when you obtain a quote, compared to other direct insurance products, miPlan is very competitive on price while not lacking in quality.

Who underwrites MiPlan’s insurance?

The underwriter is the entity who assumes the risk and, therefore, pays the benefit in the event of a claim. miPlan’s current insurance product is underwritten by TAL (formally TOWER), one of Australia’s most trusted names in personal protection. More information about TAL can be found on our Partner Page

Why is there only one product available through miPlan?

Direct Insurance through the Internet is relatively new and only a few providers currently offer such a product. As with most things in life, the quality of these types of products vary greatly.

miPlan’s product is underwritten by TAL (formerly TOWER), one of Australia’s leading insurers, and was chosen after careful consideration.

As these products become more common and miPlan finds others we believe to be at least of the same quality as TAL’s product, we will make them available.