BT Protection Plans

Most of us rely on our regular income to live. If you suffer an injury and can’t work, getting back on your feet should be the number one priority, not worrying about paying bills, the mortgage or medical costs.

It is important to have a safety net to safeguard you and protect yourself and your loved ones, should something unforeseen happen, to ensure that you can still afford the life you had planned for.

Our BT Advisers can help you choose a life insurance solution that gives you the cover you need with premiums to suit your circumstances.

Key Features

Flexible plans

  • BT Protection Plans can be structured in many ways, with different ownership structures available, including:
    • ‘Non-superannuation’ ownership — including individuals, companies or trusts,
    • Self managed superannuation funds (SMSF),
    • BT Protection Plans Superannuation — for Term Life as Superannuation, or
    • SuperWrap.

You can also choose a combination of these structures with the Flexible Linking Plus and Income Linking Plus options. This gives you flexibility on how to pay for insurance without having to compromise on product benefits.

Premium options

Choice of “stepped” premiums where your premium increases each year as you get older, or “level” premiums where your premiums stay the same.

Integrated insurance solution with Wrap

To make your life easier, we offer both on and off platform life insurance options, as well as consolidated DeskTop reporting and an additional premium discount of 10% when a BT Protection Plans policy is linked to a Wrap/SuperWrap account.

Loyalty benefit

We reward your loyalty if you hold your policy with us for over 3 years with an additional 5% on your Death, TPD, Living or Children’s Benefit, and an additional $50,000 Death Benefit on your Income Protection, Income Protection Plus and Business Overhead policies at no charge.

Multi-policy discount

The more policies you have in BT Protection Plans, the more you’ll save, with a 5% discount if you are covered by more than one BT Protection Plans policy.

CPI increase

Keep up with inflation with a CPI increase each year

Guaranteed renewable

Guaranteed renewable cover and guaranteed upgrades

For an additional cost, you also have the option to include:

  • Needlestick Benefit: provides a one-off lump sum payment if you contract HIV, Hepatitis B or C while performing your duties as a medical professional
  • Children's Benefit: provides a one-off lump sum payment if your child suffers from one of a range of specified conditions.

Don’t get caught out saying ‘it won’t happen to me’

Insurance is all about protecting the things and people that matter if you aren’t in a position to do so yourself. It provides real help when you need it, if you get hurt and can’t work, become disabled, or worse, you lose your life. It’s at that life-changing point in time you’ll want the reassurance that you and your family will be looked after.

Unfortunately Australians are chronically under-insured when it comes to our more precious assets of all – ourselves. Consider these facts:

  • 1 in 4 females will get cancer before the age of 751
  • 1 in 3 become disabled for more than 3 months before the age of 65 and have no income2

An insurance payout can make a huge difference to the immediate wellbeing and future comfort of those you love. In the event of something happening to you, your insurance payouts can be used to:

  • Clear debts
  • Pay for funeral expenses
  • Invest to generate replacement income
  • Cover childcare costs for dependants
  • Pay medical expenses
  • Pay for medical rehabilitation
  • Pay for home medications
  • Make any necessary lifestyle changes.

BT Protection Plans put you in control in times of uncertainty and helps provide peace of mind.

How BT Protection Plans can work for you

BT Protection Plans provide a comprehensive range of insurance solutions that offer protection for a wide range of situations. You can tailor the policy to your individual needs. This includes deciding who is to own the policy, how to structure the payment options and which premium options you choose.

Protection we provide



Term Life Insurance 

Pays a benefit in the event of death or on diagnosis of a terminal illness.

Living Insurance 

Pays a benefit if the Insured Person suffers from one of a range of specified medical events such as cancer, a heart condition or loss of a limb.

Total and Permanent Disablement (TPD) Insurance 

Pays a benefit if the Insured Person is unlikely to work again, perform household duties again, or suffers a loss of ability due to a permanent disability.

Income Protection and Income Protection Plus

Income Protection and Income Protection Plus replaces up to 80% of the Insured Person’s monthly income if they are unable to work.

Business Overheads

Provides funding for allowable business expenses if the Insured Person is unable to work in their business because of sickness or injury.

Need more detail?

It’s important to understand what you are and aren’t covered for. For the policy details, please refer to the BT Protection Plans Product Disclosure Statement and Policy Document (PDS).

You can access a copy of the BT Term Life as Superannuation Annual Report and the BT Income Protection as Superannuation Annual Report here.

A BT Adviser can help you tailor a plan to suit your individual financial circumstances and life stage.

To discuss your specific insurance needs and devise a strategy tailored to you, arrange to meet a BT Adviser or call us on 1300 553 764 between 8am - 8pm (EST) Monday to Thursday and 8am - 6pm (EST) Friday. For more information, you can view the Product Disclosure Statement and Policy Document (PDS).

Find out what information you need to provide to become a customer

How to apply

The Detail

The Insurer of BT Protection Plans is Westpac Life Insurance Services Limited ABN 31 003 149 157, AFSL Number 233728 (‘the Insurer’).

BT Protection Plans is issued by the Insurer except for Term Life as Superannuation and Income Protection as Superannuation which are issued by Westpac Securities Administration Limited ABN 77 000 049 472, AFSL Number 233731 (‘WSAL’) as trustee of the Westpac MasterTrust ABN 81 236 903 448. The Insurer and WSAL are wholly owned subsidiaries of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714, (‘the Bank’). None of the BT Protection Plans, an interest in the Westpac MasterTrust or Retirement Wrap ABN 39 827 542 991, RSE Registration R1001327 (of which SuperWrap is part of), nor an investment in Wrap, are an investment in, deposit with or other liability of the Bank. These policies are distributed by Bank of Melbourne– A Division of Westpac Banking Corporation ABN 33 007 457 141 (Bank of Melbourne). Westpac Life is a subsidiary of Westpac Banking Corporation (Bank). BT Advisers are representatives of Westpac Banking Corporation ABN 33 007 457 141 AFSL & Australian Credit Licence 233714 (Westpac). BT Advice is a division of Westpac. Neither the Bank, nor any member of the Westpac Group (other than the Insurer) guarantees the benefits payable in relation to BT Protection Plans.

This information has been prepared without taking into consideration your personal needs and financial circumstances. You should consider the appropriateness of this information with regard to your objectives, financial situation and needs. Before making a decision in relation to BT Protection Plans, you should consider the BT Protection Plans Product Disclosure Statement and Policy Document (PDS) and BT Protection Plans – Reserve Document and consider whether the product is right for you. The PDS explains conditions, terms, limits and exclusions and is available from your financial adviser. The Bank of Melbourne Privacy Statement is available here.

1. Cancer Institute NSW, ‘The Cancer in NSW Incident and Mortality Report’ 2007

2. Calculation based on data of individual disability income insurance sold by Australian life offices, Institute of Actuaries of Australia 2002. Report of the Disability Committee, IA Aust, Sydney.