FACT SHEET : MIBP INSURANCES MIBP INSURANCES
Non DFSS Members (Page 1 – 2)
DFSS Members (Page 3 – 4)
Contact Details (Page 5)
NON DFSS MEMBERS
What is currently provided and funded by CDF?
MIBP Tier 1 cover RF and Civilians
• Life cover, including terminal illness of $300,000
• Physical loss of up to $50,000 for loss of or loss of the use of a limb or organ
• Income protection – payable at a rate of 75% of salary (+Military Factor) for up to two years, or age 70, or earlier,
which ever comes first, after an initial stand down period.
These benefits are worldwide 24 hours a day, seven days per week.
MIBP Tier 1 cover Reserve Forces/Territorial Forces, NZ Cadet Forces (when on duty for NZDF)
• Death by accident cover of $300,000
• Physical loss of up to $50,000 for loss of, or loss of the use of, a limb or organ
• ACC Top up, payable when there is the loss of income arising from an NZDF work related injury
Am I required to complete a health assessment to obtain MIBP Tier 1 cover?
No
What is the maximum life cover I may have under Tiers 1 and 2 combined?
RF and Civilians
• $1.1m. Additional life cover in excess of $1.1m may be purchased under Tier 4.
What is the maximum death/life cover I may have under Tiers 1 and 2 combined?
Reserve Force/Territorial Force members
• $1.1m. Additional life cover in excess of $1.1m may be purchased under Tier 4.
Where do I find out more about the MIBP cover and locate a copy of the insurance policies?
• The HR Toolkit, or google AON Gateway Site, or google the Force Financial Hub – MIBP insurances
• Contact AON, contact details on page 5
Am I required to complete a health assessment when seeking Tier 2 or 3 insurance?
1 July 16 to 31 August 16
• No, for this two month window no health assessment is required up to the limits shown below.
1 September 16 onwards
• Yes, a health assessment is required.
How do I obtain a quote for Tier 2 or 3 MIBP insurances?
• Google the AON Gateway Site, or the Force Financial Hub – MIBP insurances.
• Contact AON, contact details on page 5
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FACT SHEET : MIBP INSURANCES What am I able to purchase under MIBP Tier 2 without a health assessment?
Tier 2 cover RF, Reserve Force/TF and civilians
• Life and Terminal Illness Benefit
– You can select multiples of $50,000, up to $200,000
• Income Protection
– You can extend your Tier 1 benefit payment period from 2 to 5 years (up to an annual salary of $100,000)
• Trauma
– You can select multiples of $5,000, up to $60,000
– Member pays
Health assesment will be required for an applicant with a terminal illness
What am I able to purchase under MIBP Tier 3 for my partner or spouse without a health assessment?
Tier 3 cover – RF/civilians/Reserve Force/TF
• Life and Terminal Illness
– You can select $50,000 or $100,000
• Trauma
– You can select $10,000 or $20,000
– Member pays
Health assesment will be required for an applicant with a terminal illness
Am I able to buy additional insurance under Tiers 2 and 3 beyond the maximums shown above?
Yes. Health assessment is still required for any insurance cover purchased above the limits shown above.
Contact AON (details on page 5) if you wish to purchase additional Tier 2 or 3 insurance cover above the limits shown above.
What happens if I am posted or deployed overseas during the two month window and I am unable to
arrange Tier 2 or 3 cover?
If you are unable to arrange the MIBP Tier 2 or 3 cover while deployed or posted overseas, upon your return from
overseas you will have two calendar months in which to arrange the additional cover without submitting a health
assessment.
How do I obtain a certificate for the insurance cover I have under Tiers 1 or 2?
• Register through the AON Gateway site: www.aonwell.com (Password: MIBP)
• Contact AON, contact details on page 5
What is the current age cap for the Tier 2 MIBP cover?
MIBP Tier 2 life cover currently ceases at age 80. The income protection and Trauma covers cease at age 70.
Note that NZDF continues to provide MIBP Tier 1 cover for serving members aged 70 and above on a self insurance
basis (NZDF pays on any claims). MIBP cover ceases when the member aged 70 and over leaves NZDF.
What happens to my insurance cover when I leave NZDF and am aged less than 70?
MIBP Tier 1 cover
• May be converted to Tier 2 cover and paid for by the individual but at NZDF rates, not standard commercial rates.
MIBP Tier 2 or 3 cover
• Life cover continues to age 80 and income protection and trauma cover continues to age 70 as long as the
individual pays the premiums.
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FACT SHEET : MIBP INSURANCES DFSS MEMBERS
What has been decided in respect of the DFSS insurances?
The transitional arrangement due to expire on 30 June 2016 continues to apply on an ongoing basis.
So, what are the DFSS insurances from 1 July 2016?
RF members
• Death and Total Permanent Disability – 4 x salary + Military Factor
+
• MIBP cover Tier 1
– Life cover including Terminal illness – $300,000
– Physical loss – up to $50,000
– Income protection paid at a rate of 75% of salary + Military Factor for up to two years, or age 70, or earlier
whichever comes first
Reserve Force/TF members
• Death and Total Permanent Disability – 4 x salary + Military Factor when on duty for NZDF
+
• MIBP cover Tier 1
– Death by accident cover $300,000
– Physical loss – up to $50,000
– ACC Top up, payable when there is the loss of income arising from an NZDF related injury
Civilian members
• Death and Total Permanent Disability – 1,2 ,3 or 4 x salary – option elected by the member
+
• MIBP cover Tier 1
– Life cover, including Terminal Illness – $300,000
– Physical loss – up to $50,000
– Income protection paid at a rate of 75% of salary for up to two years, or age 70, or earlier whichever comes first.
What is the maximum combined DFSS/MIBP death cover (Tier 1) applying from 1 July 2016?
$1m
What is the maximum combined DFSS/MIBP death cover (Tiers 1 and 2) applying from 1 July 2016?
$1.2m
Who pays for the insurance from 1 July 2016?
• DFSS insurance – member continues to pay through deduction from their respective fund balance.
• MIBP – CDF pays
How do I find out what my current DFSS insurance cover is?
• Use the Force Financial Hub or NZDF Superfacts site to locate your scheme balance fund page.
• If you are unable to do this or have forgotten your PIN number contact Mercer 0800 333 787 and ask them to
advise your DFSS insurance cover.
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FACT SHEET : MIBP INSURANCES If I am a DFSS member and I have no insurance cover through the DFSS do I pay insurance premiums?
No
What is the current age cap on DFSS insurances?
• DFSS insurances currently cease at age 65.
• NZDF is negotiating with the DFSS Trustee and the insurer to increase the cap to 70 or 75.
• MIBP Tier 1 cover currently ceases at age 70.
• NZDF is negotiating with the insurer to increase the MIBP cap to age 75, probably for life cover only.
If I have DFSS insurance, am I able to stop the DFSS insurance and retain MIBP cover only?
No. The DFSS Trust Deed does not permit this.
If I am a civilian member of DFSS am I able to change my insurance cover from 1, 2, 3 or 4 x salary?
Yes. Note a health assessment may be required if you wish to increase your DFSS insurance cover.
Does the two month offer (to buy MIBP Tiers 2 or 3 insurance without a health assessment) apply to
DFSS members?
Yes
What happens to my insurance cover when I leave NZDF?
DFSS insurance Cover
• Ceases
MIBP Tier 1 cover
• May be converted to Tier 2 cover and paid for by the individual but at NZDF rates, not commercial rates
MIBP Tier 2 or 3 cover
• Life cover continues to age 80 and income protection and trauma cover continues to age 70 as long as the
individual pays the premiums
Are there any other changes to the DFSS?
No
The DFSS continues to operate as previously. Three enhancements approved by CDF have applied since 1 October
2015:
• Introduction of Member Investment Choice
• Daily calculation of fund balances
• RF members are able to continue contributing to the DFSS Cat A or B after they leave the Regular Force. Civilian
employees are able to continue contributing to DFSS Cat C or B after they leave NZDF.
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FACT SHEET : MIBP INSURANCES SOUTHERN CROSS SCHEME – MEDICAL INSURANCE
What is the premium discount for members covered by the NZDF Southern Cross Scheme?
25% discount off standard Southern Cross premiums
Where do I find more details?
• Google the Force Financial Hub or AON Gateway or Southern Cross
• Or phone 0800 438 268
• Explain you are enquiring about the NZDF Southern Cross Scheme.
CONTACT DETAILS
Contact details for further information on MIBP and DFSS insurances
NZDF HRSC 0800 334 772 or [email protected]
Mercer
0800 333 787
Milestone Direct Ltd 0508 645 378 or e mail [email protected]
Contact details for arranging a quote for the NZDF Southern Cross Scheme
Phone 0800 438 268
AON CONTACT DETAILS
Contact details for arranging a quote or certificate for your Tiers 1, 2 or 3 insurance
Phone 0800 642 748
Gateway www.aonwell.com (Password: MIBP)
or email
[email protected]
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