Bill Protection can pay a lump sum disability benefit if you become disabled or an unemployment benefit if you become involuntarily unemployed. It’s designed to help with short-term expenses when you can’t work, like household bills and rent.
With a Simple Life policy, you can buy between $1,000 and $5,000 of Bill Protection cover, in $1,000 increments. For example, you can buy $3,000 worth of Bill Protection cover, but you can’t buy $3,500 worth. The cover amount you choose is known as your Bill Protection benefit and is confirmed on your policy schedule. This lump sum benefit will only be paid once in any 180 day period – for example, you can only claim the benefit for being disabled even if you’re disabled and involuntarily unemployed at the same time.