Temporary Disablement (salary continuance) Cover
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If you are a permanent employee of Oracle and you meet the eligibility criteria, then you are eligible to receive temporary disablement insurance cover. This insurance cover is provided by Oracle through a separate insurance policy held by the Company – it is not a Plan benefit.

  • The maximum temporary disablement benefit is a monthly income equal to 75% of your Base Salary,
  • In addition, 9.5% employer super contributions will be paid to your super fund.

The maximum monthly benefit is $20,000 (including super contributions), or $10,000 (including super contributions) for those aged 63 or over at the date of disablement.

Health evidence is not normally required to obtain temporary disablement cover unless your insured benefit exceeds the insurer's automatic acceptance limit (AAL). The current AAL is $15,000 per month ($180,000 per year) including super contributions. Your temporary disablement cover (including super contributions) will be limited to the AAL until underwriting is complete and your application has been accepted by the insurer.

The benefit will be reduced if you are receiving worker's compensation or any other form of income payment (including sick leave).

The benefit has a 90 day waiting period, which means you must have been unable to work, due to illness or injury, for 90 days before a benefit becomes payable. You must satisfy the insurer's definition of total and temporary disablement for a benefit to become payable.

The benefit is payable to age 65 for those aged less than 63 at the date of disablement, otherwise it is payable to the earlier of two years or age 70. It will stop if you return to work, die or are no longer assessed as being totally and temporarily disabled. Other circumstances may apply.

There are certain circumstances under which the temporary disablement benefit will not be paid. These are called exclusions and are set out in the insurance policy.

The information provided above is a summary only. Please contact Human Resources or the Plan Administrator for more information about this benefit. You can also find details, including a copy of the insurance policy, by visiting the Australian section of the JAPAC Total Rewards website.