Insurance FAQs

Life insurance is designed to pay a lump sum if the insured person dies. Some policies also include a terminal illness benefit, subject to the policy definition and conditions.

Explore life insurance and its product FAQs.

Income protection is designed to pay regular benefits when illness or injury prevents you from working and you meet the policy conditions. TPD is designed to pay a lump sum if you meet the policy’s definition of total and permanent disability.

Explore income protection or explore TPD insurance.

Trauma insurance is designed to pay a lump sum following a specified serious medical condition or event. A diagnosis alone may not be enough: the condition must meet the definition and other requirements in your policy.

Explore trauma insurance and its product FAQs.

Different covers address different financial risks. Whether you need one or several depends on what you want to protect and what resources you already have. With some bundled policies, a payment under one benefit can reduce another benefit.

Read our guide to assessing cover needs.

Key person insurance helps a business manage the financial impact of losing a person important to its operation. The cover type, ownership and benefit amount depend on the risk the business wants to address.

Explore key person insurance.

Start with your debts, household expenses and dependants, then consider savings and existing insurance. Assess each cover type separately: the amount needed after death can differ from the amount needed during illness or disability.

See practical questions and a worked example.

Eligible life, TPD and income protection cover may be held through super. Premiums paid from super reduce retirement savings, and superannuation rules can affect access to benefits. Available cover and ownership options vary.

Check your existing fund cover before arranging more insurance. Speak with our team about available options.

An adviser can help explain cover options, compare policies, guide an application and provide ongoing support. PWP compares available options from its insurer panel, which does not include every insurer or product in the market.

See how the different approaches compare.

There is no separate fee for our insurance advice and support. You pay the applicable policy premium. If you arrange a policy through us, we may receive a commission from the insurer, which we disclose to you as required.

Learn more about our service and how we are paid.

Our team contacts you to discuss the cover you are considering or the policies you already hold. We explain the next steps and any information needed to explore available options. A quote is not confirmation that cover has started.

Not everyone needs medical tests. Depending on the application, the insurer may request health information, reports from your doctor or tests before deciding what terms it can offer.

Read about underwriting and other insurance terms.

It depends on the condition, cover type and insurer. An application may be accepted on standard terms, offered with a higher premium or exclusion, deferred or declined. Answer the insurer’s questions accurately and completely.

If you already hold cover, speak with us before changing it. Learn about reviewing existing insurance.

A premium increase, new mortgage, family change or significant change in work or income can be a useful prompt. A review can also help if you are unsure what your current policies cover.

See what an insurance review involves.

No. A review may lead to keeping your policy, adjusting cover where permitted or considering alternatives. Existing definitions and underwriting terms may be valuable, particularly if your health has changed.

Request a review of your existing cover.

Do not cancel simply because a quote is cheaper. A replacement application may be declined or offered with changed terms. Keep existing cover in place until any replacement has been accepted, commenced and reviewed with your adviser.

Read the considerations before changing cover.

If you arranged your policy through PWP, contact our team. We can help identify the relevant policy and explain how to start. You do not need to gather every document before asking for help.

Learn how our claims support works or contact our team.

Timing depends on the type of claim, policy conditions and evidence required. The insurer may need further medical or financial information. We can help you understand requests and follow up on progress.

No. The insurer assesses the claim against the policy terms and supporting evidence. We can help you navigate the process and understand the decision, including review or complaints options if you disagree.