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Insurance
Insurance The BUSS(Q) Personal Plan offers members three types of cover:
• Death Only,
• Death and Total and Permanent Disability (TPD), and
• Salary Continuance. You are covered 24 hours a day, seven days a week, whether you are at work, or home on holiday. You should refer to the PDS to obtain complete details of the Insurance Offer. Before any cover is provided you are required to complete the Personal Health Statement on the Insurance Application form. We may request further information or request that you undergo a medical or medical tests. The maximum cover for Death only or Death and TPD cover is $2,000,000. The maximum monthly benefit for salary continuance is 75% of monthly salary subject to a maximum of $10,000 per month. The benefit payable for salary continuance will be the lesser of:
• The insured amount you choose (and accepted by BUSS(Q), or
• 75% of your pre-disability salary. Other income payments you receive or are eligible to receive, may reduce the benefits payable under salary continuance. Other payments can include:
• Any other disability, injury or sickness payments from other Insurers (except lump sum benefits received by TPD),
• Workers compensation, any similar legislation or any settlement under common law.
• Social security or other statutory or government payment.
Please note: sick leave, annual leave, redundancy payments, long service leave entitlements and investment income received by you are not taken into account. Your insurance cover starts on the day your application for insurance is accepted and BUSS(Q) advises you in writing that your cover has been accepted. Any increase in cover starts on the day your application for cover is accepted and BUSS(Q) advises you in writing that your cover has been accepted. Personal Plan – Salary Continuance Insurance Tables
Salary Continuance provides a benefit if you are unable to work because of sickness or injury. You must be continuously disabled for a period of 30 or 60 days. This is the waiting period. You choose the appropriate waiting period that is suitable for your needs.
The benefit will continue to be paid monthly in arrears whilst you are either totally or partially disabled up to a maximum of two years.
Cover cost tables
Personal Plan – Death & and TPD Disablement Tables CIPQ 24/7 Accident and Illness Cover Protect one of your most important assets, your income! Construction Income Protection Queensland offers 24/7 Accident & Illness Cover for Builders, Sub contractors, Directors, Partnerships and persons ineligble for workcover. For more information go to www.cipq.com.au or call CIPQ on 07 3832 9711. Full details of the BUSS(Q) Insurance Offer is available in the Personal Plan Product Disclosure Statement. This PDS should be read before making any decisions regarding the suitability of this Insurance Offer for your individual needs. Forms Application for Insurance - Self Employed Members
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