Cash Boost

Cash Boost is a life insurance product that is linked to your ahm private health insurance and is designed to help support you financially if you experience an accident resulting in surgery or are diagnosed with a specified critical illness. It provides a $10,000 lump sum payment you can spend however you like, on whatever helps to support you most during your recovery. 

Whether it's helping to cover the cost of taxis to and from appointments, groceries, sorting childcare or even everyday (or unexpected) bills, Cash Boost is here to help ease the money stress so you can concentrate on your recovery.

There’s no complicated application process or medical checks required to take out cover. Cash Boost keeps things simple, giving you another way to stay supported through some of life’s more unexpected health moments.

• Cash Boost pays a $10,000 lump sum if you experience an accident resulting in surgery or if you're diagnosed with a specified critical illness while you’re covered.

Here’s what’s covered:

From day 1 of your cover:

• accident resulting in surgery
• burns

After a 180-day qualifying period:

• cancer of specified severity
• coronary artery bypass graft surgery
• heart attack of specified severity
• kidney failure (end stage)
• major organ transplant
• stroke

Cash Boost has a lifetime limit of two claims per person, giving you added support if you face more than one serious health event.

However, only one claim can be made for each accident resulting in surgery or specified critical illness event. So, if you’ve already received a payment for a particular condition, like a heart attack, you won’t be able to claim again for that same condition in the future.

Cash Boost is designed to help support you during serious health events, but there are some situations where a claim won’t be paid. These include where the event giving rise to the claim:

• is an accident that occurs overseas;
• is caused or contributed to by attempted suicide, or any intentional self-inflicted act by the insured person;
• is as a result of war, whether declared or not, or service in the armed forces;
• occurs whilst the insured person commits an illegal act;
• occurs whilst committing an illegal act on an insured person by you (the policy owner) or the insured person’s guardian (if applicable);
• occurs during participation in professional sport (applicable to accident resulting in surgery claims only); or
• is directly or indirectly caused or contributed to by drug or alcohol abuse, use or intoxication, other than as prescribed by a medical practitioner.

In addition to the above, no benefit is payable where the event giving rise to the claim:

• occurs before the cover start date for any claim related to burns or accident resulting in surgery; or
• occurred, was diagnosed, or was apparent during the qualifying period for any claim related to cancer of specified severity, coronary artery bypass graft surgery, heart attack of specified severity, kidney failure (end stage), major organ transplant or stroke.
• We will also not pay any benefit where we are prohibited from making a payment by Australian or foreign sanction, taxation, terrorism financing, financial crime or other law to which we or another member of the global Zurich Insurance Group is subject (refer to the ‘Sanctions and other legal restrictions’ section on page 11 of the PDS for full details). 
• We will not pay a benefit for any subsequent critical illness event that is directly or indirectly caused by a critical illness event for which a benefit has already been paid.

Cash Boost is available only to eligible ahm private health members. To apply, you must be:

• aged between 16 and 60
• an Australian resident living in Australia at the time of purchase, and
• the policy holder of and insured under an eligible ahm private health insurance policy. The only excluded policies are Overseas Student Health Cover and Overseas Visitor Cover.

Cash Boost is available across a range of private health policy types including a single, couple or families and will be linked to your Hospital, Extras and Ambulance covers. Dependents on your health insurance policy, including children, are included at no extra charge on single parent and two-parent family policies.

The Target Market Determination sets out some additional guidelines about who will be suited to Cash Boost. For example:

• Be able to pay the premiums when due, either $4.95 per week for singles or $9.90 per week for couples.

Cash Boost would also be unsuitable for any individual who is severely or terminally ill, as they would be unlikely to ever make a successful claim.

Upon satisfying the eligibility criteria and TMD guidelines, then acceptance to Cash Boost is guaranteed. There are no further application questions, just a privacy consent requirement and collection of payment details.