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Serious Illness Insurance Option

This option is only available with Life Insurance. You only have this cover if we accepted your application and it is shown in your Policy Schedule.

1. What is Serious Illness Insurance?

Serious Illness Insurance provides a benefit in the event that a Life Insured under the Policy suffers:

  • Cancer - excluding specified early stage cancers; or
  • Heart Attack - with evidence of severe permanent heart muscle damage; or
  • Heart Bypass Surgery (Coronary Artery Bypass Graft Surgery); or
  • Stroke - in the brain resulting in specified permanent impairment while covered under the Policy.

while covered under the Policy. These medical conditions, including certain exclusions, are defined in the Glossary of the PDS.

2. Who can take out Serious Illness Insurance?

You (and your Partner Life Insured, if applying) must be Australian Resident/s and aged between 18 and 59 years of age.

3. The amount of Serious Illness Insurance you can apply for

You (and/or your Partner Life Insured) can apply for a Serious Illness Insurance Benefit Amount from $50,000 up to the lesser of $500,000 or 50% of the Life Insurance Benefit Amount for that Life Insured provided under your Policy.

4. When will we pay the Serious Illness Insurance benefit?

We will pay the Serious Illness Insurance Benefit Amount as a lump sum if the Life Insured suffers an insured serious illness event while covered under the Policy providing the Life Insured survives for fourteen (14) days after the day that the serious illness is contracted, except in the circumstances explained in “What is not covered under your Serious Illness Insurance?” in the PDS.

The serious illness must be diagnosed by a Medical Practitioner or a Specialist Medical Practitioner (as indicated in the Glossary of the PDS), the diagnosis may require confirmation by our medical advisers. If confirmation is required, our medical advisers will review the medical evidence submitted in support of your claim, nothing will be required from the claimant for this review to occur.

Limit on benefits

Only one Benefit Amount is payable per Life Insured under this Serious Illness Insurance as a result of that Life Insured experiencing:

  • Cancer - excluding specified early stage cancers; or
  • Heart Attack - with evidence of severe permanent heart muscle damage; or
  • Heart Bypass Surgery (Coronary Artery Bypass Graft Surgery); or
  • Stroke - in the brain resulting in specified permanent impairment.

The total Serious Illness Insurance Benefit Amount payable for a Life Insured cannot exceed the lesser of $500,000 or 50% of the total Life Insurance Benefit Amount for that Life Insured under this Policy.

If the Life Insured is covered for Serious Illness Insurance under more than one Guardian Life Insurance Policy, we will apply this limit to the total of the Serious Illness benefits payable for the Life Insured under all Guardian Life Insurance policies. Any reduction in the Serious Illness Benefit Amount will be applied to the Serious Illness Insurance most recently commenced and we will refund the premiums paid referable to the amount by which the Serious Illness Benefit Amount is reduced.

Where a Benefit Amount is paid under this Serious Illness Insurance, we will reduce the Life and any Total & Permanent Disability Insurance Benefit Amount by that Serious Illness Insurance Benefit

Amount in respect of that Life Insured. If we reduce the Life Insurance Benefit Amount and/or the Total & Permanent Disability Insurance Benefit Amount, we will reduce your premium accordingly.

5. The cost of your Serious Illness Insurance

The premium you are required to pay for this option is shown in your Policy Schedule. The Serious Illness Insurance premium is a stepped premium, which means that it will increase each year as you age.

Your premium is calculated at each Policy Anniversary and is based on:

  • the age of each Life Insured at that time; and
  • the Benefit Amount provided for each Life Insured; and
  • the Insurance Plan chosen by you (Joint Plan or Single Plan); and
  • various factors which may affect the premium rating for each Life Insured such as gender, smoking status, state of health, family history, occupation and participation in hazardous activities.

For a premium quote, or to understand more about the cost of your Insurance, please contact a Guardian Insurance Consultant on 1300 709 560 (Monday to Friday between 8am and 8pm AEST).

6. What is not covered under your Serious Illness Insurance?

We will not pay a Serious Illness Insurance Benefit Amount if the Life Insured suffers:

  • Cancer - excluding specified early stage cancers; or
  • Heart Attack - with evidence of severe permanent heart muscle damage; or
  • Heart Bypass Surgery (Coronary Artery Bypass Graft Surgery); or
  • Stroke - in the brain resulting in specified permanent impairment as a result of an intentional self-inflicted bodily injury or attempted suicide.

There are a number of cancers excluded from the definition of Cancer - excluding specified early stage cancers. It is important that you check these in the Glossary of the PDS.

No Benefit Amount will be payable if the condition resulting in a claim first becomes apparent before the Serious Illness Insurance for the Life Insured starts or during the first three months after:

  • the Serious Illness Insurance for the Life Insured starts; or
  • the date that any increase in cover starts (but only in respect of that increase); or
  • where we have agreed to reinstate the Policy after it was cancelled, or
  • the date on which we reinstate the Policy (reinstatement date).

We will pay for any new and unrelated occurrence of a defined serious illness after this three-month period. We will not pay any Benefit Amounts where we have agreed a special term with you in respect of your cover that specifically excludes the event or condition leading to the claim. Any such special term will be agreed with you before your Policy is issued and will appear on your Policy Schedule.

7. When your Serious Illness Insurance starts and ends

If your application for Serious Illness Insurance is accepted by us, then Serious Illness Insurance starts on the Acceptance Date. If we agree to add Serious Illness Insurance to your Policy after the Acceptance Date, we will advise you of the date the Serious Illness Insurance starts.

The Serious Illness Insurance ends for a Life Insured when the first of the following occurs:

  • the date of death of the Life Insured; or
  • the date of payment of a serious illness Benefit Amount for the Life Insured; or
  • the date of payment of a Total & Permanent Disability Insurance claim for the Life Insured where the Total & Permanent Disability Insurance Benefit Amount is the same, or higher, as the Serious Illness Insurance Benefit Amount; or
  • the date you cancel the Policy; or
  • the date we cancel the Policy; or
  • the date you cancel this cover; or
  • the Policy Anniversary following the Life Insured’s 65th birthday.
Life Insuarnce - Serious Illness Options
  • No medical or blood test
  • Convenient payment options
  • 30 day money back guarantee

  • 30-day money
    back guarantee
  • No medical exam
    No blood test to apply
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