Frequently Asked Questions

by user, February 11, 2015

Below is a list of frequently asked questions. If you can’t find what you are looking for call us on 02 8297 4455 or ask a question on the Contact Us page.

Q:       Why use an Insurance Broker

A:         Insurance brokers work on behalf of a client and not an insurance companies and provide professional advice about insurance products and services. They will help you identify risks and provide advice on the best way in which to manage these risks. Insurance Brokers arrange and place insurance products as well as offer risk management services through alternate risk transfer strategies.


Q:       What is an Underwriting Agency or Broker Under Binder?

A:         Organisations who describe their position as an underwriting agency or broker under binder can issue insurance products within the scope of a contractual arrangement with the product issuer. This means the underwriting agency or broker in these circumstances are legally acting as an agent for the insurer and not for you.


Q:       How do I a make a Claim?

A:         If you have a claim notify us as soon as possible to help guide you through the process. If you have a claim out of hours, still ring our office number 02 8297 4455 and record your message – It will be sent to us in a text. We will contact you as soon as we receive the message.

If you have a car accident the good news is that a number of insurers offer online reporting and this will be the simplest and easiest way to proceed. Please check your insurance policy for details.


Q:       What is a Product Disclosure Statement?

A:         A Product Disclosure Statement is a document offered by the insurers we place business with. The document contains important information about the benefits and risks of the product, including fees and charges the product issuer may receive.


Q:       What is a Policy Document and Policy Schedule?

A:         The policy document and the attached policy schedule is evidence of your insurance protection with an insurer. The policy document contains the conditions of the insurance contract. The policy schedule attaches to the policy document and states the insured, sums insured, excesses and premium paid. It may also include special clauses or terms and must be read in conjunction with the policy document.


Q:       What is a Financial Services Guide?

A:         This is a statement that must be given to a Retail Client when, or before, a Financial Service or Financial Product is provided. It contains information about the service provider, who he/she is working on behalf of, remuneration, dispute resolution and other information required by the Financial Services Reform Act (FSRA)—now in the Corporations Act.


Q:       How does Integrated Group manage my privacy?

A:         Integrated Group has a privacy policy that reflects the Privacy


Q:       What is Mortgage Protection Insurance?

A:        Mortgage protection insurance helps protect your greatest asset, your home. In the event you are unable to meet your mortgage repayments due to sickness or injury your mortgage repayments are paid. If you are die you family is protected and your mortgage is paid in full. Mortgage protection policies differ significantly and can be a combination of life, income, total and/or permanent disability insurance.


Q:       What is Life Risk Insurance?

A:        The life cover benefit pays a lump sum if you die. The lump sum amount will be paid to the policy owner or your nominated beneficiary/ies.


Q:       What are some of the uses for Life Cover?

A:        There are a number of uses for Life Cover, namely:

  • It can be used to settle debt, outstanding loans, estate duty and other financial costs in the even of death.
  • It can pay out a lump sum that can be used to provide financial security for loved ones when the life insured no longer can.
  • It allows business partners to continue running the business without added capital strain.


Q:       What is Permanent Disablement?

A:        If you have an accident or illness, which isn’t fatal, the Permanent Disablement benefit will act as a safety net.  The lump sum proceeds can be used to replace future income that is lost, settle debt or pay for lifestyle adjustments such as wheelchairs, ramps and manual car controls.


Q:        What are some of the definitions of Permanent Disablement?

A:        There are three different definitions of Total and Permanent Disablement that cover:

  • Own occupation
  • Any occupation; and
  • Other duties.

As the names suggest, the above three definitions of Permanent Disablement will pay a benefit if you are unable to perform your own occupation, any reasonably suited occupation or any work at all, respectively.


Q:       What are some of the uses for Crisis Recovery?

A:        Making sure that when lifestyle adjustments are made, you have cover. The Crisis Recovery benefit will pay a lump sum if you are diagnosed with one or more of the serious illnesses listed in the crisis groups of Cancer, Coronary and Other Serious Crisis Events.

The Crisis Recovery benefits are structured into four modules so that your individual needs can be easily catered for.

  • Crisis events such as heart attacks, strokes and cancer happen without discrimination.
  • Physical impairments, such as the loss of use of arms, legs or eyes, could change your lifestyle completely.
  • When an unpredictable event happens, there is an immediate need for financial help.

Q:       What is Disability Income?

A:        The Disability Income benefit will provide you with a monthly income if you become disabled due to injury or sickness. This means that your income at the time of the policy application will be used to calculate the insured monthly benefit amount. This benefit provides no offsets to the insured monthly benefit for white collar professionals and medical professionals (AAA or AA occupation) with regard to worker’s compensation payments or motor accident claims.


Q:       What are some of the uses for Disability Income?

A:        It may:

  • provide an income when you cannot earn one because you have become disabled or severely ill.
  • ensure that business continuity is catered for even when you, the owner, can no longer run the business.


Q:       What is a Business Expenses Benefit?

A:         A Business Expenses benefit is specifically designed for self employed individuals (employed full-time) who need to ensure that the fixed expenses of their business or practice will still be paid even if they cannot work due to Injury or Sickness.  The benefit covers business expenses less any amounts reimbursed from elsewhere.


Q:        Who is eligible for Business Expenses Benefit?

A:        To be eligible for this benefit, your occupation must be acceptable to us as a self-employed practitioner, whether alone, in partnership with others, or a working director. You can purchase this benefit on its own as the Business Expenses Plan, or together with the Disability Income Benefit.