• HCF Life wins ‘Best for Income Protection Insurance (Direct)’ for third year
• Awarded ‘Outstanding Customer Service (Income Protection)’
• Shines as finalist in ‘Best for Value (Life Insurance)’ category

THURSDAY, 11 APRIL 2024: HCF Life, part of the HCF Group, Australia’s largest not-for-profit health fund, has once again been recognised for offering the ‘Best for Income Protection Insurance (Direct)’ for the third consecutive year, by social financial wellness platform WeMoney.

HCF Life also won the WeMoney 2024 ‘Outstanding Customer Service (Income Protection)’ Award and was recognised as a finalist for the ‘Best for Value (Life Insurance)’ Award.

The WeMoney annual awards highlight insurers that consistently provide competitive insurance products to consumers. The awards are determined through a rigorous evaluation process, considering various criteria specific to each insurance category and platform.

The ‘Best for Income Protection Insurance’ award is given to the life insurance provider with the highest weighted rating across essential features including value, quality, customer experience and claims for income protection cover.

HCF Chief Operating Officer, Lorraine Thomas, welcomed the recognition, saying, “We’re delighted to receive recognition once again from WeMoney. These awards underscore our commitment to delivering award-winning value-driven Life products and outstanding service and support to our members.

“As one of the nation’s leading for-purpose organisations, we have a strong track record of challenging ourselves to do our best by our members and our people, and to deliver a level of care and support that sets us apart. This is evidenced by HCF remaining number one in Member Satisfaction of the major health funds and paying back more in benefits to our members than the industry average over the past decade^{^^}.”

HCF Income Protect Insurance^~ is part of HCF’s Recover Cover range of recovery and life insurance products and can help with living expenses and keep you afloat while you’re sick or injured.

HCF Income Protect Insurance covers up to 70% of your average monthly income^* (up to $7,500 per month), for up to 12 months if you’re unable to work due to illness or injury^{^} for more than 30 days. Once all the information is provided, most claims are paid in less than 5 days, with the flexibility of receiving cash payments.^# Affordable cover starts from $2.65 per week,⁺ so it's made to fit all budgets.

For more information, visit Award-winning Cover | HCF

ENDS

Media enquiries to:

Joni Thomes 0475 576 738 or jthomes@hcf.com.au

ABOUT HCF

HCF, Australia’s largest not-for-profit health fund protecting Australians since 1932, covers almost 2 million members with health and life insurance, and travel and pet insurance. HCF has been awarded Outstanding Value Health Insurance by Canstar eight years in a row from 2016-2023. On average over the last ten years, HCF has paid out more cents in every dollar in premiums to members as benefits than the industry average. To learn more about HCF go to hcf.com.au/about-us

^{^^} For every dollar our members pay in premiums, we’ve paid out more benefits than the industry average over the last 10 years. Savings calculated for the FY20-23 period.

IMPORTANT INFORMATION

^~Terms and conditions apply. Please read the relevant Product Disclosure Statement, Policy Document and Financial Services Guide available by calling 1800 560 855 or visiting hcf.com.au/lifeinfo, and consider your financial situation, objectives, and needs before deciding on these products as any advice provided does not take these into account. In addition to these documents, you should also read the Target Market Determination (TMD) for the product, which is available at hcf.com.au/lifeinfo. Our Recover Cover products are issued by our own HCF Life Insurance Company Pty Ltd. ABN 37 001 831 250, AFSL 236 806 (HCF Life). HCF Life is a wholly owned subsidiary of The Hospitals Contribution Fund of Australia Limited ABN 68 000 026 746, AFSL 241 414 (HCF). The premiums for Recover Cover products are paid to HCF Life. HCF receives commission from HCF Life for their sale of up to 40% of the first year’s premium plus an additional commission of 80% of HCF Life’s underwriting profit each year calculated as premiums less claims and expenses. HCF’s staff may receive an incentive depending on the annual premium of these products which they sell. This will not exceed 15% of the first year’s premium.

^*Payment is subject to offsets including any amounts payable from your employer or superannuation fund.

^{^}Subject to exclusions and limitations - please refer to the PDS and the Policy Document for further information.

^#Get your cash payment when your claim is approved.

⁺For a male aged 29-34 who is a non-smoker accountant with a normal BMI on a $1,500 monthly benefit.