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Personal & Life FAQs
We understand that sometimes the unexpected happens and you may not have access to as much money as you normally would. If this happens to you, GIO customers have two options:
1. Premium Freeze Benefit
2. Premium Pause Benefit
Yes, you can pay fortnightly, monthly or yearly premiums at no extra cost.
Yes, you can easily set up direct debit or credit card payments when you purchase your policy.
With Funeral Insurance, you pay regular premiums to cover an amount of your choosing, which will then be paid out to your nominated beneficiary in the event of your death. With pre-paid funeral plans, you plan and pay for your funeral in advance, meaning it’s already paid for when you die.
Deciding on a level of cover varies between each person. You should factor in such things as what type of funeral you want, and how much you want to leave for your loved ones to assist them financially.
Yes, in some circumstances you can receive your pay out early as part of the Early Payment Benefit.
Yes, it’s completely up to you. You can choose one beneficiary to receive the pay out in the event of your death.
We offer single and joint policies, meaning you can insure one or two people on a single policy.
Yes, you can.
There are some instances that mean you won’t receive the full Funeral Benefit, all of which occur in the first 12 months of taking out your policy.
We offer one main discount on our funeral insurance policies: a 20% Family Discount and 10% Large Sum Insured Discount.
As a benefit for your loyalty we also offer the 10% Cash Back Benefit, for every three years you continue to hold a policy.
Yes, you can. If you decide to go with this option, the joint policy will be cancelled and a new policy issued to each customer.
You can nominate who receives your Life Protect Death Benefit payout in the event of your death.
Yes, you can apply to increase your cover at any time, but this process is subject to underwriting.
Your other option, to avoid any underwriting, is to consider the Lifestyle Increase Benefit. This benefit allows you to increase the level of your cover by a maximum of $100,000 annually, as long as it’s either the second anniversary of your policy, or you’re under the age of 60 and a life event as stipulated in our PDS occurs.
Yes. We’ve adopted the Life Insurance Code of Practice to ensure you get the highest standards of service in all your dealings with us.
Other Personal & Life Policies
No, however GIO is part of the Suncorp Group and we may be able to offer you Income Protection under Suncorp. GIO does offer Bill Protect, this helps provide an income if you’re sick or injured and not able to work however it does come with more exclusions than Income Protection and is not connected to your current income. Please refer to the Bill Protect PDS for full terms and conditions.
GIO Funeral Insurance is issued by Suncorp Life & Superannuation Limited ABN 87 073 979 530 AFSL 229880 (SLSL), under the brand GIO, and is distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621, AFSL 229885 (SFS). AAI Limited ABN 48 005 297 807 (AAI) trading as GIO does not provide any financial product advice in relation to GIO Funeral Insurance. Any advice in this information is general advice only and has been prepared without taking into account any person’s objectives, financial situation or needs. You should consider the Combined Product Disclosure Statement and Policy Document (PDS) for GIO Funeral Insurance before making any decisions about whether to acquire this product. GIO Funeral insurance is not a savings product and premiums increase with age. If you cancel your policy any premiums you have paid for your policy will not be refunded.