What is Savings Provision Entitlement?
There are circumstances where you may be entitled to an increased Government Rebate. The Savings Provision Entitlement ensures that people remaining on a policy that has been eligible for the 35% or 40% Government Rebate do not have their rebate amount reduced to 30% when the person aged 65 years or over leaves or cancels the policy. The Savings Provision Entitlement only applies when the person 65 years or over leaves or cancels the policy after 1 April 2005. Anyone who is aged under 18 or a full-time student under the age of 25 at the time the person leaves the membership cannot inherit the 35% or 40% Rebate.
