One of the benefits of providing tailored cover is that, subject to conditions, eligible employees will automatically receive insurance cover up to a specified amount without having to provide any medical evidence. This is known as the automatic acceptance limit (AAL).
Employers offering a tailored cover insurance design can select ‘AMG MySuper Default Table of Cover’ as an option.
Under tailored cover, members can be insured for;
- Death (based on a formula or a fixed amount or unitised cover)
- Total and permanent disablement (based on a formula or a fixed amount or unitised cover)
- Income protection ( up to 75% of salary).