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Elevate product features

Learn more about your cover's flexible features

AMP Life's Elevate offers a range of life insurance products and cover types that can help get you and your family back on track if things go wrong.

Understanding what your insurance covers you for and the features it offers can help you make the most of your policy. The following is a highlight of the features that your Elevate policy may have, please refer to the current PDS or policy you hold for specific details applicable. This article does not consider your individual circumstance, you may wish to speak to your adviser about the way the way these features operate and how they may apply to your circumstance.

Types of cover

Our Elevate insurance cover can provide valuable payouts when you need them most. Generally, it includes these cover types:1

Death and terminal illness cover

Can provide a payout to your beneficiaries (usually your family) if you pass away, or if you are diagnosed with a terminal illness.

Income protection cover

Can provide financial support if you become temporarily unable to work due to injury or illness by replacing up to 75% of your income during this time.

Total and Permanent Disability (TPD) cover

Can provide a payment if you become totally and permanently disabled and are unable to work.

Trauma cover

Can provide a lump sum benefit if you are diagnosed with a certain illness which affects your ability to work, such as cancer or a stroke.

Business expenses cover

Can provide a monthly benefit if you have a business and you become totally or partially disabled through an injury or illness, and you are unable to work.

Product features

Our Elevate insurance products may include some of the features listed in this table, which are designed to make your cover valuable and flexible. Make sure you check your Product Disclosure Statement (PDS) to see which features your product has.

 Feature  What it means for you What cover it applies to
Advancement of funeral expenses We will pay either $20,000, or your sum insured amount in advance (whichever is lowest) to cover funeral expenses. Death and terminal illness
24-hour worldwide cover You’re covered 24 hours a day, no matter where you are in the world. Death and terminal illness, Income protection, TPD, Trauma
Accommodation benefit If you are confined to bed and your immediate family member needs has to stay in alternative accommodation to visit you, we’ll pay their accommodation costs of up to $150 a day, for a maximum of 14 days. TPD, Trauma, Death
Automatic inflation You can choose to have your benefit automatically increased each year. Automatic inflation will increase your cover by 5% or the change in CPI (whichever is greater) for Elevate TPD, trauma and death cover, and by 3% for Elevate income protection cover. TPD, Trauma, Income Protection, Death
Benefit period This is the maximum period of time that you will be paid your monthly income protection benefit. Your benefit is a percentage of your income as specified in your policy documents. Your benefit period could be from 1 year up to a benefit period to age 70. Income protection
Future insurability You can purchase extra cover each year without medical underwriting for certain major life and business events that could happen. Trauma, Death, TPD
Premium freeze You may be able choose this option to freeze your current premium, so the price doesn’t increase. While that means your premiums won’t increase, your benefit amount will reduce each year. Death and terminal illness, Income protection, TPD, Trauma.


1Check your Product Disclosure Statement (PDS) for more details about the cover your product offers.

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Important information

AMP Life Limited ABN 84 079 300 379, AFSL No. 233671 (AMP Life), has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 (AMP Limited) has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. AMP Life is part of the Resolution Life group and can be contacted on 133 731 or via the contact us page.

Any advice and information on this [website/article] is general in nature and is provided by AMP Life, which is part of the Resolution Life group. The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters as well as the relevant product disclosure statement (PDS), available from AMP Life at amplife.com.au or by calling 133 731, before making a decision about the product. Consider speaking to a financial adviser if you have any concerns.

AMP Elevate insurance is jointly issued by Equity Trustees Superannuation Limited (ETSL) ABN 50 055 641 757 (trustee) as trustee for the National Mutual Retirement Fund and AMP Life.

If you decide to purchase or vary a financial product, AMP Life and/or other companies within the Resolution Life group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium they pay or the value of their investments. You can ask us for more details.