Annual limit rollover

Ever feel like unused extras vanish into thin air at year’s end? Not with Frank. On Bundables extras cover, you choose your annual limit – and if you don’t use it all, you can roll it over into the next year.

That means any leftover extras limit at the end of the year gets added to the next, giving you more time (and more reason) to claim the good stuff.

How it works

• Stick with Frank on your Bundables cover for 12 months and any unused extras limit will roll into the next year.
• Limits reset or roll over on 1 January each year.
• You’ll need to use your new year’s limit first before dipping into the rolled-over amount.
• Rolled-over limits last for 12 months only – they don’t roll over twice.
• Annual limits, sub-limits, and waiting periods still apply.

What rolls over

• All services included on your Bundables cover are eligible for annual limit rollover.
• Your annual limit is shared across your membership, and rolled-over limits work the same way.
• Sub-limits (half your annual limit for a specific service) still apply.

Limit refresher

• Overall limit – the total amount you can claim in a year. Once you’re eligible for annual limit rollover this will include your current year’s annual limit, and any amount rolled over from the previous calendar year.
• Annual limit – the total amount you can claim in a year, shared across your membership and all included services.
• Sub-limit – the max you can claim for a specific service or group of services in a calendar year. For Frank Bundables, that’s half your annual limit.

How sub-limits work with rollover

Sub-limits are like mini caps for certain services (e.g., physio or optical). Even when your annual limit rolls over, these mini caps still apply – and they adjust with the rollover amount.

Here’s an example. Let’s say your annual limit is $750, your physio sub-limit is $375 and you’re eligible for annual limit rollover.

Scenario 1

You make some claims throughout the year across a few services, including $200 for physio, and you have $300 in remaining limits to roll into the next year.

The following year, you have an overall limit of $1,050. This is made up of your new year’s annual limit reset amount of $750 plus the unused $300 limit rolled over from the previous year. 

Your new year’s physio sub-limit is $550.

This is made up of $375 from your new year’s limit plus the additional $175 you didn’t use for physio last year.

Scenario 2

You make some claims throughout the calendar year, but none of these are for physio. You have $300 in remaining limits to roll into the next year.

The following year, you have an overall limit of $1,050. This is made up of your new year’s annual limit reset amount of $750 plus the unused $300 limit rolled over from the previous year. 

Your new year’s physio sub-limit is $750.

This is made up of $375 from your new year’s limit plus an additional $375 because you did not claim on physio in the previous year and have limits to roll over.

Scenario 3

You make some claims throughout the calendar year and reach your annual limit. You have no remaining limits to roll into the next year.

The following year, you have an overall limit of $750 which is your new year’s annual limit reset amount. No limit has rolled over from the previous calendar year because you used it all up.

Your new year’s physio sub-limit resets and is $375.

Frequently Asked Questions

Want to know more about Frank Bundables?

If you still have questions about annual limit rollover, get in touch. We’re here if you need!