Page 9 - AS Harrison & Co Salary Continuance Insurance

Benefit exclusions Are the benefits taxable?
Benefits are not payable for disability or loss arising Any claim benefit received by you is regarded
from: as income and as such, is fully taxable. Benefit
payments are assessed as ordinary income, taxed at
• war, or an act of war, occurring in Australia or
New Zealand your marginal income tax rate.
• an insured member engaging in war service
Policy statement
• an insured member’s intentional self-inflicted act
A S Harrison & Co Salary Continuance Insurance
• pregnancy, unless the insured member is disabled
for more than three months after the end of the benefit is a group policy. As such individuals insured by
pregnancy, in which case the waiting period is the policy do not receive a personalised statement of
deemed to start on the later of the date total cover. PSK Financial Services is available to confirm your
disability begins and the end of the pregnancy cover, or assist with any other questions, at any time.

How is a claim initiated?

Notice of a potential claim should be made to your
employer as soon as possible. Claim forms must be
completed within 30 days of the insured member
first becoming disabled or as soon as it is reasonably
possible for the insured member to do so.

Can coverage under the plan be terminated?
Except as noted below, your coverage will generally
not be terminated while you continue to remain
an employee of A S Harrison & Co. Coverage will
terminate if you cease to be employed by
A S Harrison & Co, you die, you attain age 65,
or the plan is terminated.

Leaving A S Harrison & Co- continuation option
You may apply to continue your Salary Continuance
Insurance personally with the insurer upon ceasing
employment with A S Harrison & Co.

To exercise the Continuation Option you must:
• be 60 years of age or less

• apply in writing by completing an application for
the individual policy within 90 days of ceasing
employment
• be an Australian resident or holder of a visa the
insurer (OnePath) considers acceptable, and
• not residing outside Australia (unless the
insurer OnePath agree otherwise)
PSK Financial Services is available to assist you to
apply for continuation of cover.

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