Please read the Important Considerations: • Once the benefit is split, it is non-reversible. • Non-member spouses under the age of 65 must become members of APSBG and pay a membership fee of $6.00 per fortnight up to age 70, after which your funeral benefit is provided free of charge. • Members have the option of buying additional funeral benefits with a single lump sum payment. • If the age of the member or non-member spouse is either younger, or not more than 5 years older than the member with the greater benefit, a 50/50 split of the combined total benefit will be applied. • If the age of the member is between 5 and 20 years older than the member with the greater benefit, a 47/47 split will be applied. Note, the reason for the reduction is due to the increased likelihood of the benefit being paid earlier than if it remained with the current member. • The new benefit entitlements remain eligible for ex-gratia benefits. • For new members a mature policy option is available after 5 years membership. • New member funeral benefits cannot exceed $20,000. I/We acknowledge that I have read the Combined Financial Services Guide and Product Disclosure Statement and the Supplementary Product Disclosure Statement.
