Life Insurance FAQsCommon questions around Life Insurance.
Do I need Life Insurance?
Life Cover pays a lump sum to your loved ones if you die or become terminally ill.
Having this type of cover in place can help ensure your family will not be left with a major financial burden if you die or become terminally ill. For example, a Life Cover benefit may be used to ensure:
- major debts such as the home mortgage, credit cards and personal loans can be paid out
- your family will have sufficient funds to cover ongoing day-to-day expenses
- you can provide for your children’s future education needs.
How Life Cover can help
Agnes was 25 years old when she bought her first property with her husband. At the same time she bought Life Cover to ensure the debt could be repaid if she passed away.
Over the next 10 years, Agnes had three children and bought two more investment properties that she hoped her children could one day inherit. She also increased her Life Cover to reflect her growing debts.
At the age of 42, Agnes was diagnosed with terminal lung cancer. As she was given less than 12 months to live, Agnes made a claim for a Terminal Illness benefit under her Life Cover.
Agnes received a payment of the full sum insured of $2.2 million. This allowed her and her husband to pay off the loans on all of their properties, and set aside sufficient funds to support their children through university.
Like other Insurances, Life Cover is one of those things that you should have, but hope you never have to use. It’s the ultimate peace-of-mind policy, protecting your family against financial hardship if you were to pass away.
At its most basic level, Life Cover pays a lump-sum benefit to your nominated beneficiary or estate if you die. Of course, there’s a little more to it than that.
Choose the Type of Cover
Life Cover can take many different shapes. At NobleOak, you’ve got the option of adding TPD Insurance and/or Trauma Insurance to your Life Cover.
TPD Insurance provides a lump sum payout if you were to suffer a debilitating injury or illness, and could never work again.
Trauma Insurance provides a lump sum of money if you suffer a medical condition or trauma that impacts on your life for a period – such as being diagnosed with cancer or suffering a stroke or heart attack – yet you can return to work in time.
Choose your insured amount
At NobleOak, you can apply for up to $15 million in Life Cover. Generally, people take a good look at their current and future financial situation – such as the size of their mortgage, any other large debts, and ongoing living costs – in arriving at an amount.
Apply for cover
At NobleOak applying for Life Cover is easy; although sometimes a few extra steps – like medical examinations – may need to be added to make sure that you’re getting cover tailored to your needs.
The application process can be completed over the phone with one of our Insurance Specialists and takes 15 to 20 minutes. You will need to provide answers to a list of medical questions so we can better assess your health and lifestyle. Once completed, you will know how your Life Cover will be tailored to you and how much your premiums will be.
In calculating your premiums, we look at a range of factors that relate to your age, occupation and medical history.
Having the right amount of and Income Protection Insurance is important, and yet, many Australian families are under-insured.
Rice Warner, a leader in providing research and advice to superannuation and wealth management industries, released a report on underinsurance in 2015 which highlights that the median level of Life Cover only meets 61% of our basic needs, which would cover non-mortgage debts and sustain the current living standards till the age of 65.
If the unforeseen were to happen, you certainly wouldn’t want your family to suffer the additional stress of not being able to pay the mortgage or ongoing household bills on top of dealing with the extreme emotional distress. When determining how much Life Insurance you will need it’s important to think about:
- Current debt – i.e. mortgages, personal loans and credit cards, and the number of dependents you have.
- Your current income.
- Future education expenses for your children – i.e. school and university fees.
- Ongoing household expenses, including utility bills, groceries and insurances.
- Lifestyle costs – sport and music lessons, birthdays and holidays.
- Childcare and home assistance – if you or your spouse is a stay-at-home parent, you will need to cover the cost of employing a carer for the children, someone who can also undertake home duties.
We understand it can be difficult to know where to start to work out how much Life Insurance you need and what to consider. But, it’s an important step to undertake to ensure your loved ones are protected.
The cost of Life Insurance depends on a variety of factors, like your age, gender and whether you smoke or not. It also depends on your occupation and lifestyle, your medical history and the level of cover you choose.
Generally speaking, Life Cover costs less than most people think. For example, if you are a 35-year-old non-smoking male, you would pay approximately $30/month for cover worth $500,000. If you are a 35-year-old non-smoking female, you would pay approximately $25/month for the same cover. Females have a lower mortality risk.
Premiums can usually be paid monthly, quarterly, half yearly or yearly to suit your budget. At NobleOak we let you choose the types and amounts of cover you want, and you only pay for what you are covered for.
Because we’ve been winning industry awards for our insurance products and providing them directly to the consumer without the middleman, NobleOak Life Insurance delivers 5-star cover with lower premiums compared with other major insurers.
Does low-cost Life Insurance provide quality cover?
NobleOak is very proud to be able to offer Australians award-winning Life Insurance, without the hefty price tag. Our ongoing goal is to keep costs down while delivering premium Insurance products for your peace of mind.
When you’re shopping around for Life Insurance, what are the most important criteria on your shopping list? If you’re like most, then cost and quality are up there. By cost, we mean the price of premiums; and by quality, we mean the features of the product, ease of making claims, and how likely you are to get paid at claim time.
Some people believe that cost and quality are directly correlated – that is, if one goes up, the other goes up too. NobleOak proves otherwise. Here’s how we keep our premiums low, and our service high.
Life Cover Direct to You
NobleOak is a direct insurer. Our products are not sold through financial advisers; instead, they are made available directly to you. Other insurers who distribute through financial advisors pay upfront commissions which can be up to 120% of your first year’s premiums, adding significant cost to the distribution of their products which must then be built into their premiums.
By dealing with you directly, NobleOak is able to provide you with cover without any upfront advisor fees. In fact, our competitive Life Insurance premiums are on average 20%* lower when compared to other major insurers.
Complete Peace of Mind
Unlike some other direct insurers, our products are of the same caliber as those you’d purchase through a financial adviser. For example, you can access up to $15 million in Life Cover with Noble Oak – this level of comprehensive cover is usually only available through an adviser led product.
All cover offered by NobleOak is fully underwritten. This means that we assess your risk upfront when you submit your application, by asking you a range of medical, health and lifestyle questions and undertaking a free blood or medical assessment if required. We then use this risk assessment to tailor the cost of cover to you as an individual.
With fully underwritten insurance cover, there are no nasty surprises if you ever needed to make a claim (as long as you were completely honest with us when you submitted your application). You know exactly what you are covered for and all terms are agreed with you upfront.
How can I reduce the cost of Life Insurance?
You can reduce the cost of Life Insurance by making sure you are fit, a healthy weight, and a non-smoker. And perhaps exclude risky activities like hang-gliding and quad-bike riding from your cover. Access our Life Insurance cost calculator to find out how much cover you may need.
It is important that you have the right level of cover for your needs and we don’t advise economising by reducing your cover unless your circumstances allow. If your financial obligations have decreased, for example your mortgage is paid off and your children are financially independent, then decreasing your cover is a way of reducing your premiums.
There may be times in your life when you feel the pinch and would like to keep your outgoings steady, including your insurance premiums. With NobleOak Life Cover, you may choose to fix the cost of your premiums at any time by writing to us with a request to freeze your premium amount.
Premium Freeze Benefit means that your future premiums will be fixed at the amount you were paying on the date you notified us. Instead of the premium increasing with age and inflation, each year your cover amount will be adjusted to the amount of cover that can be purchased for the frozen premium using the premium rates applicable for your age. Then, when you are ready to resume insurance cover which keeps up with the rising cost of living, you simply need to write to NobleOak and we will end the premium freeze on the next anniversary of your cover.
The decision to buy Life Insurance is often made with the best interests of your loved ones at heart. After all, if you were to pass away or become seriously ill or injured, you want to know they will be looked after financially. It’s a smart decision, but it’s important you consider how much and what type(s) of cover you need to ensure your loved ones are adequately protected.
How much cover do you need?
One of the best ways to discover just how much cover you need is through our Life Insurance Calculator. The calculator will help you identify what types and how much cover you need to meet your needs. Equipped with these insights you will then be able to select the right cover from our range of Life Insurance products, including:
NobleOak Life Insurance
- Protect the financial security of your loved ones if you die or are diagnosed with a terminal illness.
- Apply for up to $15 million of cover.
- $15,000 advance to assist with funeral costs.
NobleOak Income Protection Insurance
- Protect your income if you become ill or injured and can’t work.
- Provides up to 75% of your income (up to $25,000 per month).
- Choice of 30 or 90-day waiting period.
NobleOak TPD Insurance
- Protect yourself and your family from financial stress if you’re permanently disabled and unable to work.
- Apply for up to $5 million cover.
- Protection for mental illness included.
NobleOak Trauma (Critical Illness) Insurance
- Focus on your recovery if you suffer from a critical illness.
- Apply for up to $2 million cover.
- 38 conditions covered including cancer, heart attack, stroke and coronary artery disease.
What if I have Life Insurance in my superannuation already?
Most employees will automatically have some Life Insurance in super. However, many people only have a minimum level of cover that may not be sufficient to meet the needs of their dependents.
There are also different rules around accessing benefits within super, and different tax treatment for different types of beneficiaries – which is why many Australians have chosen to have more than one policy to ensure they are adequately covered.
Yes, you can! NobleOak’s comprehensive Life Insurance lets you choose the types and amounts of cover you want – you only pay for what you are covered for.
If you add NobleOak’s Total and Permanent Disability Cover to your Life Insurance, then any approved claim for TPD will reduce your Life Insurance cover by the amount of the TPD payment.
Similarly, if you add NobleOak’s Trauma Cover to your Life Insurance, then any approved claim for Trauma will reduce the Life Insurance cover by the amount of the Trauma payment. However, if you take stand-alone Trauma Insurance, then any subsequent claim will not affect your Life Insurance cover.
Any claim on your NobleOak Income Protection Cover has no effect on your Life Insurance cover, TPD cover or Trauma cover.
NobleOak’s award-winning Life Insurance product offers many features and benefits to ensure you can find the right cover for your circumstances. Several features and benefits are outlined below:
Financial advice benefit
Most of us are not used to receiving large lump-sum payments. Such payments require careful management to provide for you and your family’s immediate and future needs. Financial planning can be even harder to come to grips with during a distressing time of shock or bereavement.
At NobleOak we understand that you or your estate may need some professional assistance to ensure that the proceeds of a Life Cover, TPD Insurance, or Trauma (Recovery) Insurance claim payment are managed appropriately.
If NobleOak pays a benefit of more than $200,000 for one of these claims, we will reimburse the cost, up to $2,000, of engaging a qualified, licensed financial adviser to help you prepare a financial plan for managing the payment.
Financial Advice Benefit is only payable once in respect of the life insured. Evidence that the advice has been received and paid for must be provided to NobleOak within 6 months of the Life, Trauma or TPD benefit payment. Please note that because of superannuation laws, we are typically unable to offer this benefit where the cover is held by an SMSF.
Future increases benefit
Most people will experience changes in their lives which will impact on their financial responsibilities. As you move through the different stages of your life, you may find that your current insurance doesn’t cover your evolving needs. With NobleOak Life Cover and NobleOak TPD Insurance, you can increase your cover amount by as much as $100,000 (depending on your original cover amount) per year without having to provide further medical evidence, for the following allowable events:
- You marry or officially register a partnership
- You take out or increase a mortgage on your home
- You or your partner gives birth or adopts a child
To be eligible for the Future Increases Benefit, you must be less than 60 years of age when the allowable event occurs and you must notify us within 90 days of the event. While you will not have to provide further medical evidence to increase your cover, you will need to provide evidence of the relevant event, e.g. marriage or birth certificate, adoption papers, or mortgage documents. Increases to the cover amount can only be requested once per year and the total value of increases cannot exceed 100% of your original cover amount.
Grief counselling benefit
At NobleOak we understand that your death or diagnosis with a terminal illness can be a very emotional time for you and/or your partner. That is why we will reimburse the cost of services in addition to your NobleOak Life Insurance benefit.
If we pay a benefit for death or terminal illness, we will reimburse the cost of grief counselling for you or your spouse or partner, up to the value of $1,000. Grief Counselling Benefit is only payable once in respect of the life insured.
The service provider you choose must be appropriately qualified and registered for grief counselling and you will need to provide evidence of the services and receipts for payments made. Such evidence must be received within 6 months of the death/terminal illness benefit payment. Please note that because of superannuation laws, we are typically unable to offer this benefit where the cover is held by an SMSF.
If you have Life Insurance with level premiums, it means that your premiums will not increase as you age. The only increase in premiums will be for adjustments to guard against inflation, or changes in the insurer’s underlying premium rates. While it may be reassuring to know that your premiums will not increase with age, Life Insurance with level premiums will initially be more expensive than insurance with stepped premiums.
NobleOak Life Insurance products are only available with stepped premiums. This means your premiums increasing as you age and your risk profile changes.
What is the difference between Stepped and Level Premiums?
NobleOak’s range of Life Insurance products use stepped premiums. This means your premiums will increase each year with your age.
The annual premium increases because the risk of you needing to make a claim grows greater with age. It might increase up to about 2% per year if you’re under 30, but as you approach middle-age, the increase in your premium will rise to a greater percentage of about 5-7% per annum. It sometimes increases more than this.
In addition, your premium will increase each year to guard your cover against inflation. This helps ensure your level of cover remains relevant to your needs. You do have the option to stop the indexation of your cover if you prefer, in which case any rise in your premium will only be due to your increasing age.
How is Funeral Insurance different from Life Insurance?
Funeral insurance generally pays a single lump sum benefit that helps pay for you funeral, but generally doesn’t provide a sufficient level of cover to help support your family on an ongoing basis. Funeral insurance is more expensive alternative to Life Insurance when you compare the premium to the benefit you will receive.
What does the Funeral Advance Benefit cover?
Dealing with the death of a loved one can be one of life’s most stressful experiences. Coming to terms with the loss and planning a funeral is enough to worry about without the added concern of how to pay for the funeral service.
At NobleOak we understand that sometimes funds are needed urgently and without fuss. In the event of the insured person’s death, we will promptly advance $15,000 of the sum insured to assist with funeral expenses. This can help to lessen the financial stress at a very emotional time, and let your family focus on their grief without the added worry of budgeting for unexpected expenses.
The cost of funerals in Australia
Many of us only discover the cost of a funeral when it is our turn to arrange one for a family member or friend, and it can be confronting to find out how quickly the expenses add up.
Funeral costs start at around $4000 for a basic cremation, increasing to $15,000 or more for a more elaborate casket, ceremony and burial ASIC). Some of the costs that need to be factored in when planning a funeral include:
- Funeral director fees
- Death certificate
- Burial or cremation
- Cemetery plot
- Celebrant or clergy
- Newspaper notices
- The wake
In the event of your death, your dependants or relatives will need to pay these expenses upfront. Even if you have a death benefit in your superannuation fund, it could take some time for it to be released, leaving your loved ones with a bill of thousands of dollars.
How is the Funeral Advance Benefit different to funeral insurance?
The Funeral Advance Benefit is a benefit under your Life Cover, whereas funeral insurance is a standalone policy. The benefit is an advance payment of your Life Cover benefit, and is not paid on top of your cover.
Funeral insurance generally pays a single lump sum that helps pay for your funeral, and that’s it. It doesn’t provide a sufficient level of cover to help support your family’s other financial needs. Funeral insurance can be more expensive than Life Insurance, when you compare the premium to the amount you receive.
By having the Funeral Advance Benefit within your Life Cover, it might eliminate your need for funeral insurance at all – as it gives you peace of mind that your family will be able to access immediate funds to pay for your funeral if you were to pass away.
How to claim the Funeral Advance Benefit?
The Funeral Advance Benefit is payable under your NobleOak Life Insurance cover on receipt of evidence of age of the insured and a death certificate. Your funeral director should be able to provide you with a death certificate, if you are unsure.
There may be times in your life when you feel the pinch and would like to keep your outgoings steady, including your insurance premiums. With NobleOak’s Life Insurance products, you may choose to fix the cost of your premiums at any time by writing to us with a request to freeze your premium amount.
Premium Freeze Benefit means that your future premiums will be fixed at the amount you were paying on the date you notified us.
Instead of the premium increasing with age and inflation, each year your cover amount will be adjusted to the amount of cover that can be purchased for the frozen premium using the premium rates applicable for your age.
For example, Holly has bought her first home and her mortgage repayments are higher than the rent she used to pay. She reassesses all her outgoing expenses and decides that she still needs her insurance but would prefer that her premiums remain steady, rather than automatically increasing with her increasing age and to keep up with inflation. She writes to NobleOak and asks to freeze her premiums. After four years of static premiums, Holly is still covered, but for a lesser amount.
The next year, Holly receives a pay-rise at work, gets on top of her mortgage and feels ready to resume insurance cover which keeps up with the rising cost of living. She simply needs to write to NobleOak and we will end the premium freeze on the next anniversary of her cover. Going forward, her cover will increase each year to allow for inflation, and her premium will correspondingly increase to reflect her age each year and increased cover.
Standard risk cover is when there are no extraordinary factors that would increase the likelihood of a claim. The level of risk is influenced by such factors as the applicant’s health, age, gender, smoking, alcohol consumption, lifestyle habits and stage of life. When the risk is standard, the premiums stay at a standard rate.
Cover becomes high risk when any or some of the above factors substantially increase the likelihood of a claim. If you have a pre-existing medical condition/s, or you work in a hazardous occupation, your cover may be considered high risk and (if these conditions are not excluded) it will be reflected with higher premiums.
For example, Jane is a fit and healthy, non-smoking, moderate drinking 28-year-old dental nurse with no pre-existing medical conditions. Her father Albert, however, is a 59-year-old roof tiler who smoked for 20 years and takes medication for hypertension. The risk of a claim for Albert is clearly greater than for his daughter (and not just because of age), and therefore Albert’s premiums will be higher than Jane’s.
My Protection Plan is comprehensive Life and Income Protection Insurance that we offer through financial advisers who can help you choose the types and amounts of cover you need. We recommend you do use a financial adviser if you need personal advice. Financial advisers that sell My Protection Plan only charge level commissions or fee-for-service, which helps to keep the premiums affordable.
My Protection Plan is also offered through NobleOak’s alliance partners, to whom we pay commissions to help defray their promotion and distribution costs.
NobleOak’s My Protection Plan offers high levels of comprehensive cover, with up to $25 million for Life, up to $30,000/month for Income Protection and up to $5 million Total and Permanent Disability Insurance. There is also Business Expense Insurance available and Trauma Cover which you can add to your plan or hold as stand-alone cover.
What is Premium Life Direct?
Comprehensive Life Insurance and Income Protection Insurance is normally offered through financial advisers. NobleOak Premium Life Direct offers this comprehensive cover to you – directly. We cut out the middle man and get you the cover you need, at a lower cost. You choose the types and amounts of cover you need, and you only pay for what you are covered for. When you buy your insurance from NobleOak, you are dealing direct with the APRA regulated manufacturer who underwrites your cover.
Australian Prudential Regulation Authority (APRA), is the Australian regulator for the 30 life insurers in Australia. However, very few of these companies let you deal directly with them. Most expect you to use a financial adviser or one of their branded alliance partners, both of which add commissions to their premiums.
There are other direct Life Insurance products on the market, but NobleOak Premium Life Direct offers high levels of comprehensive cover, with up to $15 million for NobleOak Life Insurance, up to $25,000/month for NobleOak Income Protection Insurance, up to $5 million for NobleOak TPD Insurance and up to $2 million for NobleOak Trama Insurance. There is also Business Expenses Insurance available and Trauma Cover which you can add to your plan or hold as stand-alone cover.
Once issued, NobleOak insurance cover is provided for worldwide travel and residence 24-hours a day, subject to any special terms and conditions NobleOak may apply at the time of acceptance.
So whether you are heading on the trip of a lifetime or moving overseas, provide your cover remains in-force you can travel with peace of mind.
Before you jet off into the sunset, you should always check with your insurer as additional conditions may apply to your cover.
Countries excluded from cover
Some countries are excluded from cover mainly due to political unrest, war or natural disaster. As these are subject to change we recommend that you always check with your insurer before travelling overseas to make sure you are covered.
If you choose to remain in a country or part of a country where an Australian government ‘reconsider your need to travel’ or ‘do not travel’ travel warning has been issued, or an evacuation has been coordinated, you may not be covered. Again, it is recommended you check with you insurer if this occurs whilst travelling.
Other exclusions unique to you
In rare cases, travel exclusions may apply based on your individual circumstances. If this is the case, they will be determined during the initial application process and agreed with you.
Remember, always check current travel advice
The Australian Government recommends all travelers check current travel advice, which it maintains for more than 170 destinations on the Smartraveller website.
The advisories highlight potential threats to security, safety and health that you could face at your destination, and counsel on local laws that may differ from those at home. To ensure you are protected, we recommend that you still check with your insurer before travelling overseas to make sure you are covered, even to low risk destinations.
Make sure your Insurance is up to date
Travel to even the safest destination can be risky, so it is a good idea to have your affairs in order before you go. Life Cover can help to provide financial security for your loved ones in the event of your death.
Income Protection Insurance can help you to cover the costs of living if you are unable to work due to illness or injury. For Australian workers heading overseas to work, provided your cover remains in-force, you will be eligible for Income Protection benefits.
However, in the event of an Income Protection claim there may be additional requirements and conditions should you be working overseas. If you are moving overseas for work, either temporarily or for an extended period, we recommend you check with your insurer what additional requirements may be placed on your cover.
Life Cover is intended to provide financial security to the loved ones left behind in the event of sudden and unexpected death. But what happens if that death occurs due to a suicide? Will the policy pay out, or will the insurance cover be voided?
Although you will hopefully never need to use this information, it is important that you understand your rights and obligations should you ever lose a loved one to self-harm and then need to make a claim on their Life Insurance.
How it works
A Life Insurance policy will generally not pay out for a suicide that occurs within 13 months after the inception of the cover. This is to safeguard the life insurer where the life insured may have taken out cover with the sole intention of committing an act of self-harm.
The insurer may also need to review the life insured’s full medical history in some instances to check if there were any significant mental health issues in the past which the life insured may not have disclosed at the time of underwriting. Failure to disclose all relevant information to the insurer could possibly necessitate a claim being denied if these details were considered to have been a material factor in the death.
It’s important to be aware that if the life insured has changed insurers, or increased their level of Life Insurance cover, the 13 month suicide exclusion period may be applicable either to the full cover or the increased portion of the cover.
NobleOak’s policy on suicide
NobleOak’s Life Insurance excludes death by suicide only for the first 13 months after the cover originally commenced, or for 13 months for the increased portion of any cover.
After this 13 month period has expired, if the life insured’s death was confirmed as having been caused by their own hand, we will not void the cover and we will generally look to pay the claim subject to our normal claims review procedures.
Buying Life Insurance through super can be a convenient and affordable way to get the cover you need. There are, however, a number of things you need to consider before you decide how you want to structure your Life Insurance.
What type of cover can you buy through super?
With NobleOak, the two types of cover you can buy through super are:
NobleOak Life Cover – which protects your family’s financial security if you die or are diagnosed with a terminal illness, and
NobleOak Total & Permanent Disability (TPD) Insurance – which protects yourself and your family from financial stress if you’re permanently disabled and unable to work.
What are the advantages of taking out Life Insurance through super?
Using your superannuation to pay for your Life Insurance can be a good way to help you afford the cover you need, without eating into your budget. You also have the opportunity to make before-tax contributions to super to pay for your insurance (e.g. through salary sacrifice), which may help reduce the amount of tax you pay.
What are the disadvantages of taking out Life Insurance through super?
If you don’t make additional super contributions to pay your insurance premiums, your retirement savings will reduce. Also, there are different rules around Life Insurance policies owned through super that may make benefit payments less tax-effective for your beneficiaries.
This is a general guide only. Readers should consult a taxation adviser for their personal circumstances.
Life Insurance, TPD Insurance and Trauma Insurance are generally not tax deductible for most taxpayers when insuring themselves. Income Protection Insurance premiums, however, are generally tax deductible, whether you are insured with NobleOak or any other insurer.
If you are purchasing Life Cover and TPD Insurance for business purposes, then your tax situation may differ. In this case, and for all queries about taxation, we recommend you seek advice from your accountant or financial adviser.
How is Life Insurance different from Funeral Insurance?
Funeral insurance generally pays a single lump sum benefit that helps pay for your funeral, but generally doesn’t provide a sufficient level of cover to help support your family on an ongoing basis. Funeral insurance is more expensive alternative to Life Insurance when you compare the premium to the benefit you will receive.
Most people will experience changes in their lives which will impact on their financial responsibilities. As you move through the different stages of your life, you may find that your current insurance doesn’t cover your evolving needs. With NobleOak Life Cover and NobleOak TPD Insurance, you can increase your cover amount by as much as $100,000 (depending on your original cover amount) per year without having to provide further medical evidence, for the
following allowable events:
- you marry or officially register a partnership
- take out or increase a mortgage on your home
- give birth or adopt a child.
To be eligible for the Future Increases Benefit, you must be less than 60 years of age when the allowable event occurs and you must notify us within 90 days of the event. While you will not have to provide further medical evidence to increase your cover, you will need to provide evidence of the relevant event, e.g. marriage or birth certificate, adoption papers, or mortgage documents.