Terminal illness cover
A Terminal Illness Benefit (TIB) is an amount paid to you in the event you are diagnosed by 2 registered medical practitioners, including your treating specialist, with a terminal illness and you are expected to have less than 12 months to live. The benefit payable is equal to your Total and Permanent Disability (TPD) benefit at the date you are diagnosed with the terminal illness.
When you die, your dependants or legal personal representative can claim your Cbus death benefit, less the amount of TIB benefit already paid (provided that you are still a member at the time of your death and premiums have continued to be paid for you). This amount will vary, depending on your age and the category of your Cbus insurance cover at the date of death. In some cases there will be no residual death benefit.
Note: You will not be eligible for this benefit if you first joined Cbus as an employer sponsored member and you were accepted for cover under the Electech Benefit Scale and have since transferred this cover.
The information in this insurance section provides a brief overview of the insurance types available through Cbus. It does not include all eligibility conditions for acceptance or payment of insurance benefits. For more information, we advise that you read the appropriate Product Disclosure Statement.