GE Money Life Protect Frequently Asked Questions

What cover levels are available?
You can choose from 5 levels of cover: $100,000, $200,000, $300,000, $400,000 or $500,000.

When will my Premium increase?
Premiums are fixed for the first 5 years of the policy and increase every 5 years after that only if an increase is due under your plan.

We also reserve the right to review premiums for all policyholders with benefits of the same type under this kind of policy. Where this results in an increase to your premium, this will be applied on your next 5th year anniversary.

Premium rates will be adjusted accordingly as a result of any applicable governmental tax changes.

Do I need a medical check up or blood test to be accepted?
No medical examinations or tests are required at the time of your application. As part of our assessment process in the event a claim, we may require additional medical reports for us to complete our review of your claim.

What is the Advance Payment Benefit?
The Advance Payment Benefit is a $10,000 advance payment of the Life Benefit. The benefit can be used for the cost of a funeral or for any purpose and will be paid once we receive a certified copy of the death certificate. Payment of the Advance Payment Benefit reduces the Life Benefit by $10,000.

Who can apply for GE Money Life Protect?
You can apply for GE Money Life Protect if you meet all of the following criteria:
  • you are aged between 18 and 61
  • you are a permanent Australian Resident; and
  • you are permanently residing within Australia at the time of the application.
How can I increase my cover if my circumstances change?
You can increase your level of cover at any time by calling 1300 301 195. Provided you meet our acceptance requirements we can process your upgrade immediately. Premiums will be adjusted to reflect the increase in cover and any changes in acceptance criteria.

How much cover do I need?
There are many factors that affect how much cover you need to ensure your family and lifestyle are protected. For instance, if you were to die you may want to have enough cover to allow them to pay off the mortgage and other outstanding loans; maintain their current lifestyle without the primary income coming in; or meet the cost of your children’s education or ongoing living expenses. You need to consider what your overall insurance needs are, and any other insurance policies you hold, when deciding on the purchase of this product.

Is it possible to claim for both the Terminal Illness Benefit and the Life Benefit?
No. You may claim for either the Terminal Illness Benefit or the Life Benefit, but not both. The Sum Insured under the Policy is the maximum amount payable.

Are there any exclusions?
We will not pay a benefit if your death or terminal illness:
  1. Is the direct or indirect result of suicide, attempted suicide or an act of self- harm within 13 months of the start, increase of or reinstatement of the policy (in relation to an increase in the sum insured of the policy, only in respect to that increase); or
  2. Occurs while you are committing or attempting to commit a criminal offence.
Will my level of cover decrease over time?
Once you select your cover that amount is set and guaranteed never to decrease.

How to apply
  • Apply now
    You'll receive a decision within 60 seconds
  • Call us on 1300 819 098
    Mon-Fri 8am to 7pm AEST
GE Money Life Protect and GE Money Injury Assist are issued by Hallmark Life Insurance Company Ltd. ABN 87 008 446 884 AFSL 243469, trading as GE Money. Account Cover Plus, Account Guard, Account Protection, Account Protection Plus, Clear Advantage Protection, Buyer's Protection, Balance Protection and Loan Protection insurance are issued by Hallmark General Insurance Company Ltd. ABN 82 008 477 647 AFSL 243478 and Hallmark Life Insurance Company Ltd. ABN 87 008 446 884 AFSL 243469, both trading as GE Money. Car Insurance is issued by Auto & General Insurance Company Limited ABN 42 111 586 353 AFS Licence No 285571. Travel insurance is issued by Southern Cross Benefits Limited ABN 99 133 401 939, AFS License 331058 trading as Southern Cross Travel Insurance ®.

Any advice on this website does not take into account your personal objectives, financial situation or needs. You should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, and read the relevant Product Disclosure Statement (PDS) before deciding whether to acquire any of these products.