AMP (Australian Mutual Provident Society) was founded in Australia in 1849, making it one of the oldest life insurance companies in the country. It has since become an international company that does business in 11 countries. AMP offers wealth management and financial services across a range of products, including self-managed super funds (SMSF), investments, and life insurance.
|Founded in 1849|
|Over 3.8 million customers in Australia and New Zealand (map of Aus/NZ)|
|Over 100,000 AMP Bank customers|
|About 750,000 shareholders|
AMP policies offer cover against sickness and injury anywhere you are in the world. Benefits may be paid on an eligible claim for up to three months while you are overseas, and resume when you return to Australia or New Zealand.
AMP Elevate Insurance
This is AMP’s primary life insurance product suite. It includes term life insurance, TPD cover, income protection, and trauma cover. These policies can be purchased individually or in conjunction with each other.
AMP Elevate Insurance – Life
Life insurance pays out a lump sum benefit to your nominated beneficiaries if you die. You have the option of paying your premiums through your superannuation fund or outside of your super.
The benefits you receive depend on whether you have a policy outside of super, in super, or through an SMSF. Benefits may include the following:
AMP Elevate Insurance – Trauma
AMP offers two types of trauma insurance: Trauma Insurance and Trauma Insurance Plus. Both offer benefits when you experience a defined trauma event, though Trauma Insurance Plus includes 11 more conditions than the regular Trauma Insurance plan.
Trauma insurance pays out a lump sum to help you pay for expenses associated with a trauma, like rehabilitation costs, medical bills, or carer costs.
Here are some of the events covered by AMP Trauma insurance:
Trauma Insurance Plus also covers the following additional events:
AMP Elevate Insurance – Total and Permanent Disability (TPD)
TPD insurance pays out a lump sum if you are totally and permanently disabled and unable to work. This benefit can be used to pay for rehab costs, medical expenses, or whatever you wish.
AMP Elevate Insurance – Income Protection
If you’re temporarily unable to work due to illness or injury, income protection can pay you a monthly benefit of up to 75% of your standard income. There are eight different types of income protection plans through AMP Elevate, so you can choose a level of cover that suits your personal situation.
If you or an eligible member of your household has a temporary illness or injury, AMP MyLife pays out a customised benefit level to support the family finances. The benefit may be financial or in the form of support services.
Benefits may be paid out in the following ways:
○ AMP Life – My Life – Innovation in Direct Life Insurance award
○ AMP Life – mental health training – Innovation in Retail Life Insurance award
○ Insurance Service provider – SMSF Member Category – Winner
○ Value for Money – Winner
○ Excellence and Innovation in Return to Work award – Winner
Most AMP claims can be made online using their online claims notification service. If you have suffered an illness, injury, or other serious condition, you can complete the online form to file. You will need to have the following information available:
You can also claim over the phone or in writing:
Phone claims: Call 1300 366 214 from 8:30am – 5pm AEST Mon – Fri
In writing: AMP Claims, PO Box 181, Parramatta NSW 2124
To claim as a result of death (for example, on a term life insurance policy), you have a few options. With AMP Elevate policies, you can call 132 987 or write to AMP Claims, PO Box 14330, Melbourne VIC 8001.
For Flexible Lifetime – Protection and other products, claim online as indicated above, or call 1300 373 654. You can also claim in writing by writing to AMP Life Claims, PO Box 300, Parramatta NSW 2150.
When making a claim with AMP, it’s best to do so as soon as possible. AMP can start processing the claim and work to get you help and support sooner, so you can recover more quickly.
You will work with a dedicated case manager throughout the process, to help resolve your claim as soon as possible.
|Making a Claim|
|In 2017, AMP paid $1.112 billion in life insurance claims to over 11,500 customers.|
15% Mental health disorders
10% Cancer – other
20% Mental health disorders
12% Cancer – other
11% Cancer – breast
|The average age of AMP customers making an insurance claim was 52.|
AMP Elevate customers can access a range of discounts and rewards, depending on your policy and level of coverage. Benefits may include:
1300 366 214
from 8:30am – 5pm AEST Mon – Fr
PO Box 300 Parramatta
|Website : amp.com.au
Twitter : @AMP_AU
|Find a Retail Store :
1300 345 300