Crisis cover – an optional extra benefit to Term Cover

Crisis Cover can pay a lump sum payment if you suffer a serious illness like cancer or a heart attack.

You can apply to add Crisis Cover to your Term Cover Life Insurance to be covered for more than death or terminal illness.


Benefits of Optional Crisis Cover:

  • a lump sum payment to use as you choose
  • you can use the payment to pay off your home loan, for medical treatment, rehabilitation - or whatever you need to help with your recovery
  • you don’t have to be terminally ill to make a claim. In fact, many people go on to make a full recovery. Crisis Cover can help take away the financial stress while you recover from your illness
  • choose how much Crisis Cover you need. Maximum cover is $2 million
  • you can renew your Crisis Cover until age 65 no matter how your health is however, Crisis Cover ends if you are paid out as a result of your illness.

Special Events Increase Option:

If you experience one of our eight defined Special Events, you can increase your Crisis Cover without needing to provide any further medical information, provided you apply within three months of the Special Event. View the defined Special Events under Term Cover Life Insurance Additional features.

How does it work?

Crisis Cover is a part of your Term Cover Life Insurance. You specify the amount of cover you need when you apply.

If you claim for Crisis Cover and your claim is paid out, that amount is deducted from your Term Cover life insurance and your Crisis Cover ends.

For example, you have Term Cover of $500,000 and Crisis Cover of $300,000. If you suffer a major illness (that is covered by the policy), you simply make a claim. If it’s accepted, your Crisis Cover benefit of $300,000 will be paid, your Crisis Cover ends and your Term Cover benefit will reduce to $200,000.

What is covered?

If you are diagnosed with one of the specified medical conditions (below) that meet the medical definitions in your policy, Crisis Cover could pay out.

Crisis Cover can cover the following conditions:

  • Alzheimer’s disease
  • Aplastic Anaemia
  • Blindness
  • Cancer
  • Cardiomyopathy
  • Chronic Liver Disease
  • Chronic Lung Disease
  • Coma
  • Coronary Artery Angioplasty – triple vessel
  • Coronary Artery By-pass surgery
  • Creutzfeldt-Jakob Disease
  • Dementia
  • Encephalitis
  • Heart Attack 
  • Kidney Failure
  • Loss of Limbs or Eyes
  • Loss of Speech
  • Major Head Trauma
  • Major Organ Transplant
  • Medically Acquired HIV
  • Motor Neuron Disease
  • Muscular Dystrophy
  • Multiple Sclerosis
  • Occupationally Acquired HIV
  • Open Heart Surgery and Aortic Surgery
  • Out of Hospital Cardiac Arrest
  • Paralysis
  • Parkinson’s Disease
  • Pneumonectomies
  • Pulmonary Hypertension
  • Severe Burns
  • Stroke
  • Unable to Manage Daily Living Activities

As underwriters of Westpac Crisis Cover, 87% of Crisis Claims Westpac Life paid in 2013 were for Cancer, Heart Attack or Stroke.

More details about the specific medical definitions of these conditions will be provided with your policy document.

What isn't covered?

Your current health will be assessed, and any existing medical conditions may be excluded from your cover.

You will not receive a pay out under Crisis Cover if any of the following happens:

  • you have a major illness diagnosed within 90 days of when your Crisis Cover starts
  • you cause an injury or illness to yourself intentionally
  • your condition was caused by the use of alcohol, poisons or unprescribed drugs
  • your condition was caused by you taking part in war, riot or illegal acts
  • your condition was known or suspected to exist when you applied for your cover
  • your condition doesn’t meet the specified medical definition.