FAQs

Institutional insurance (otherwise known as Group Insurance) is the provision of insurance for an aligned group of people. Cover is generally cheaper than that available under individual contracts and a person may also receive cover through automatic acceptance (without the need for underwriting).

Group Life insurance is Life Insurance provided to a group of people. Generally the benefits available through Group Life insurance are:

• death benefit;
• terminal illness benefit; and
• total and permanent disability benefit.

Income Protection insurance provides an individual with replacement income when they are totally or permanently disabled following their pre-determined waiting period. A person can cover up to 75% of the pre-disability income (and an extra 10% to replace super contributions).

We pride ourselves on working with partners to tailor insurance products to their needs.

MetLife requires a group to have a minimum of 50 members.

The automatic acceptance level is determined on a case-by-case basis, and depends on the size of the plan, the benefit structure and the eligibility criteria. This level will be included in your quote. Automatic acceptance is where members within a group are provided with insurance cover (up to a pre-determined amount) without the need for medical, occupation and pastime assessment by our underwriters. Members must generally meet some eligibility criteria such as being in active employment to obtain cover under automatic acceptance.

Please contact one of our Business Development Managers on 1300 555 625 or email auinstitutional@metlife.com.

The minimum premium of a group must be $10,000 in annual premium.

Generally, all benefits are paid to the policy owner. MetLife may, under instruction from the policy owner, pay Income Protection benefits directly to an individual.

We review all quotes independently and will quote on short term Income Protection independently of Group Life. There are also circumstances where we can quote on long term Income Protection.