Disclaimer: The information provided below is for general information only, it is not financial advice or personalised to your situation. If you would like advice that takes account of your particular situation, please contact your financial adviser. Full details of policy terms and conditions are available from Asteron Life Limited or your financial adviser. Terms, conditions, exclusions and limits apply. If there are differences between the information provided here and the policy document, then the policy document will prevail. Asteron Life Limited and its related companies do not accept any liability in connection with the information provided.
or call us on 0800 737 101.
Call us on 0800 737 101 (8:30am - 5pm Monday to Friday) or talk to your adviser. We're here to help. It's best to get in touch as early as possible so we can maximise the amount of support we can give you.
We know it can be a tough time when you're making a claim. We also know it's not something you do every day. So we promise to do all we can to process your claim accurately, simply and as soon as possible. You'll be allocated a dedicated Case Manager to assess your claim and help you through the claim process.
Once your claim has been accepted, it typically takes 2 days for us to process your payment. Your Case Manager will contact you and confirm the date payment will be made.
It depends on what has actually happened and what type of policy you have.
Your family or other representatives should get in touch with us to confirm whether a claim is possible. If not, they’d still want to make sure your policies are cancelled and premium payments stopped. If a claim is possible, they can use our claim form, call us on 0800 737 101, email claims@asteronlife.co.nz; or they can talk to your adviser.
If you would like a specific person, trust or organisation to be paid the claim amount if you die, you may want to consider adding a nominated beneficiary to your policy.
No, your premium won't go up, unless your policy has a no-claims discount. If your cover ends when a claim is made, then your premiums stop. If your cover reduces after you claim, then your premiums will usually reduce.
You can make a one-off payment using your credit or debit card for your Asteron Life policy.
We’re set up with most banks as a payee – just pick Asteron Life from the list and fill in the details. Otherwise, our bank account number is: 01-0505-0185311-06. Make sure you include your name and policy number in the reference fields.
Call us on 0800 737 101 (8:30am - 5pm, Monday to Friday) to pay with your existing Direct Debit Authority.
The easiest way to pay your regular premiums is by automatic Direct Debit payment. Simply fill in the form, send it through to us, and we’ll setup everything.
You can choose a payment period that suits you. We can send you a quarterly, half-yearly or annual payment request so you can arrange payment each time. Get in touch to change your payment period.
If you want to change your payment method or payment frequency, get in touch and let us know what suits you best.
If you miss a payment, we’ll send you a reminder letter.
You have a few options to catch up on a payment:
If you have an insurance policy: as long as everything is up-to-date within two months of the payment being due, you won't have to worry about a thing. If not, your policy may lapse and you'll no longer be covered.
If you have a unit linked investment or superannuation policy: Your policy will not lapse unless your investment balance is used up. Fees, charges and the cost of any insurance included on the policy are deducted from your investment each month. So if you don’t pay into the policy, the investment amount will reduce each month. We’ll let you know if it’s getting low.
If you have a whole of life or endowment policy: any missed premiums may become an interest bearing debt against your policy value. We'll send you interest notices every six months so you can keep track of what you owe. To find out if you have a debt on your policy, send us a message, or call us on 0800 737 101.
If you're experiencing financial difficulty and/or you’d like to look at options to reduce your premiums, please call us on 0800 737 101 or speak to your adviser. We're here to help.
If your policy lapses you’ll no longer be covered, so it’s something you'll want to get onto sooner rather than later. If this happens we’ll send you a Lapse Notice. How it affects your policy will depend on how long it's lapsed for:
Between 20 working days and 12 months from the Lapse Date: you'll need to apply to have your cover reinstated. Get in touch or phone 0800 737 101 and we’ll confirm what’s needed.
You won’t be covered for any event or condition that occurred while the policy was lapsed. And if your health has changed, this may affect whether your application to reinstate your cover is accepted, or if the terms and conditions of your cover change.
If you're experiencing financial difficulty and/or you’d like to look at options to reduce your premiums, please call us on 0800 737 101 or speak to your adviser. We're here to help.
Asteron Life’s cover has a lot of inbuilt flexibility. If your circumstances change and you find yourself needing to review your premiums to work within your budget, there are a number of ways you can reduce premiums depending on what type of policy you have.
Inflation Adjustment benefit
Most of our policies offer you the choice to increase your cover to keep pace with inflation, that way you can relax knowing your cover is keeping pace with the cost of living. You can choose to stop these increases at any time.
Speak to your adviser and ask about options that could be suitable for your policy, such as adjusting wait time or sum insured, or restructuring policies, which can help make your premiums more suited to your budget.
If you’re experiencing financial difficulty and you’d like to look at your options, please call us on 0800 737 101 or speak to your adviser. We’re here to help. Read more: Managing the cost of your insurance
As Supporters for life, we want to support our customers to make informed choices about what’s best for you and your budget.
You can make a one-off payment using your credit or debit card for your Asteron Life policy on our website. You can also continue to pay by direct debit from a New Zealand bank account or New Zealand Credit Card if you still have one. Alternatively you can call +64 4 495 8700 (8:30am - 5pm, Monday to Friday) to make a Credit Card payment over the phone.
No, sorry. Asteron Life Australia has separate systems to us, so we're not able to accept payments on their behalf. Go to asteronlife.com.au to find out more about their payment options.
Chat to your adviser and they can give you a quote and arrange an application to increase your cover.
With our Smartlife and Personal Insurance policies you can increase some cover at certain stages of your life without any medical questions, such as buying a house, getting a pay rise, getting married or having a baby.
To see if this applies to you, speak to your adviser, send us a message or give us a call on 0800 737 101.
Yes, in many cases your premiums can go up over time. This is mainly because of your age, but other factors play a part too, such as inflation. Find out more about why premiums have gone up.
If you select level premiums, premiums are locked in until you reach the end of your specified level term and won't increase due to your age. Level premiums can save you thousands of dollars over the life of your cover.
Talk to your adviser about which premium structure might work best for you.
There are a number of ways you can reduce your premium. The options depend on what type of policy you have, so have chat to your adviser, send us a message or call us on 0800 737 101 and we can confirm what options are available.
To calculate your premium we look at your age, gender and smoking status. For some cover we might also consider your medical history, income, occupation and lifestyle choices.
This gives us an overall picture of what the risks are for you and, along with what type of cover you have, will determine your premium.
Our aim is to make sure your premium is fair. One size doesn't fit all.
A level premium policy can save you thousands of dollars over the life of your policy.
Level premiums are locked until you reach the end of your specified level term and won’t increase due to your age. Level premiums automatically take your increasing age into account and balance your premiums out over the life of a policy.
Level premiums will only increase if you choose a policy option to protect your cover against inflation or if we need to adjust your premium due to changes in tax or market conditions.
The alternative is stepped premium which starts lower but will increase significantly over time. The advantages of level premium include saving you money over the long term and making budgeting easier.
Talk to your adviser about which premium structure might work best for you.
You could talk to your friends and family for a recommendation, do some research online or we can look after the first step for you. We have years of experience working with professional advisers, so we can easily make an introduction.
Your premiums can increase for three main reasons:
If you find your premiums are no longer affordable, there may be ways to re-structure your policy to work within your budget.
To make any changes to your level of cover or premium structure, chat to your adviser, send us a message or call us on 0800 737 101.
Over time things like groceries or filling up the car can cost more due to inflation. Most of our policies you can choose to increase your cover by a small amount to keep pace with inflation changes. That way you can relax knowing you have the cover you expect. As your amount of cover changes your premium will also change. You can stop these increases at any time.
Kiwisaver is a retirement savings scheme, not life insurance. If you die, what’s in your Kiwisaver is usually paid out to your estate, but it may not be enough to cover all of your family’s needs at the time.
A chat with a financial adviser is a great way to work out how much life cover you need to best protect your family's future.
For privacy reasons only the policy owner or one of their authorised representatives can get access to information about the policy or make changes to that information. Of course, the insured person (if different to the owner) can request information held about them on the policy. The person paying for the policy can request access to payment details on the policy, but neither the insured nor the payer can make any changes.
I've started smoking, how does this affect my policy?
Normally, this doesn't change your current policy unless you decide to increase your level of cover. The new portion of premium will be at the higher rate for smokers.
You can talk this through with your adviser. If you want support to stop smoking try Quitline.
I've stopped smoking, how does this affect my policy?
Congratulations! That’s great news.
Once you’ve been smoke-free for 12 months, you can apply to be considered as a non-smoker and have your premiums reduced. Just complete the Smoking Update form and send it to us when you’re ready.
Generally everything stays the same. It may depend on the type of policy you have and how different your new job is. Have a chat with us or your adviser and we can tell you if a change is needed to make sure you stay protected.
If your current cover is coming to an end and you want to discuss how you can continue to protect your family and your assets, give us a call on 0800 737 101, send us a message or chat to your adviser to see what options are available to you.
With our Smartlife and Personal Insurance policies you may be able to increase some cover at certain stages of your life—such as buying a house, getting a pay rise, getting married or having a baby—without any further medical questions.
This a Special Events increase. To check if you have this option, just get in touch or talk to your adviser.
Yes, you can own a policy to insure another person. That person will need to complete an application form to be assessed for cover.
Talk to your adviser and they can help you find out exactly what cover you can have.
Asteron Life Connected Care services are provided by Teladoc Health. Asteron Life Connected Care provides virtual health care services, connecting users with leading medical and wellbeing specialists, providing guidance and support around any health condition.
Asteron Life Connected Care is included at no extra cost with eligible Asteron Life policies. Eligible policies include; Business Insurance or SmartBusiness disability income covers; Business Disability Cover, Farmers Disability Cover or Business Expenses Cover. Personal Insurance disability income covers; Income Protection Cover, Mortgage and Living Cover and Workability Cover. This also includes disability income covers previously sold under SmartLife products. Trauma Cover or Cancer Cover across our Personal Insurance, Business Insurance or SmartLife products, Employee Insurance – Income Protection Cover and specific legacy products, check with your Adviser if you qualify or contact Asteron Life on 0800 737 101 to find out.
Chat to your adviser and they can give you a quote and arrange an application to increase your cover.
With our Smartlife and Personal Insurance policies you can increase some cover at certain stages of your life without any medical questions, such as buying a house, getting a pay rise, getting married or having a baby.
To see if this applies to you, speak to your adviser, send us a message or give us a call on 0800 737 101.
The amount of cover you need to protect your family and assets can change over time. It's a good idea to talk to your adviser about any lifestyle or financial changes so that you know you’ve considered all the options.
If you find your premiums are no longer affordable, there may be ways to re-structure your policy to work within your budget.
Your adviser will be able to discuss options, or you can get in touch with us by sending us a message or calling us on 0800 737 101.
Just complete the nominated beneficiary form and return it to us.
If you don’t have a printer, get in touch and we’ll post you a copy.
A policy owner is the person who has applied for and owns the policy. This doesn't have to be one person, a policy can be individually or jointly owned. However, if a policy is jointly owned, all owners must authorise and sign for any changes to the policy.
A nominated beneficiary is a person, trust or organisation chosen by the policy owner/s to receive the claim amount when a life insurance claim is made. Claims will be paid to a nominated beneficiary even if there is a joint owner on the policy. The nominated beneficiary has no rights to enquire about or change the policy and doesn't need to be aware that the policy exists.
If there is no nominated beneficiary on a policy, the claim amount will be paid to the policy owner or their estate. If a policy is jointly owned and one owner dies, the surviving owner will be paid the claim amount.
To nominate a beneficiary on your policy complete a Nominated Beneficiary Form.
If you are still unclear get in touch, call us on 0800 737 101, or talk to your adviser.
If you’ve missed anything it could affect your ability to claim on your policy, so it's best to sort it now.
Get in touch to let us know the missing details and we can confirm whether your cover or premium needs to change. You can also talk to your adviser about how this may affect your policy.
Cancelling your cover is a big decision, so before you decide to give up your cover or move to a new insurer, talk it over with your adviser. Refer to our question What are the risks of cancelling or moving?
Once you've talked it through, your adviser can help you sort out your policy, or you can contact us on 0800 737 101.
If you pay your insurance premiums annually, half yearly, or quarterly, we’ll refund the remaining portion of the premium if you cancel.
If you have an investment policy that has a withdrawal or cash value, you’ll have the investment balance paid out to you.
If you’re thinking of moving to another insurer, your adviser will be able to talk you through what the differences in cover will be and what this might mean for you. If your health has changed since you first took out your current policy, you may have certain health conditions excluded from any new cover, or extra premiums charged to include those health conditions. So, make sure you’re clear on what you’ll get with any new cover before you cancel your current cover.
Asteron Life has been named 2021 Life Insurance Company of the Year Winner at the New Zealand Insurance Awards. Check out our video about Asteron Life here.
We make our policies flexible enough to change as your needs change. So if you'd like to update your policy it’s important to talk to your adviser, send us a message, or give us a call on 0800 737 101.
If you’ve changed your bank account or credit card that you pay your premiums from, you can let us know the new details by filling out a Direct Debit/Credit Card form. Send the completed form to us, or if you' d prefer, call us on 0800 737 101 and we'll get that sorted for you.
Yes, in most cases your cover will continue while you live overseas. Get in touch and let us know where you’re going and we can confirm whether your cover will continue.
You’ll need to keep paying your premiums out of a New Zealand bank account or from a New Zealand credit card. Alternatively we can send you a quarterly, half-yearly or annual payment request so you can arrange payment each time. You can call us on +64 4 495 8700 and pay using your non-New Zealand credit card.
We can email you most information. New policy documentation, annual statements and payment notices we'll still need to post.
If you need a copy of a recent letter, just let us know and we’ll email you one.
Send us a message or call 0800 737 101 and we can see if we can put you back in touch with them.
You can also request a Certificate of Currency which will show your policy details and your adviser's contact details.
Of course you can keep your Asteron Life policy. With your permission we can send your new adviser information about your policy.
If they recommend that you change policies, they should tell you clearly what the differences between the two policies are so you are able to compare the advantages and disadvantages of changing policies. Your adviser will help you make an informed decision.
If you have any questions, just get in touch or call 0800 737 101.
If you’re unhappy with the service from your current adviser, we encourage you to talk to them to try and resolve your concerns.
If you do decide to change your adviser simply send us a note signed by the policy owner/s and we’ll change the adviser listed on your policy.
You can check the unit prices of your investment product. You’ll need either the name of your plan, the fund you’re invested in, or your plan number. If you have any questions please speak to your adviser, send us a message, or call us on 0800 737 101.
Unless you have a locked in superannuation plan, you can typically make a partial or full withdrawal from your investment. You can make a partial withdrawal over the phone if you have an existing bank account set up with us. Just call us on 0800 737 101 and we’ll arrange it. If you would like to make a full withdrawal, or if you don’t have a bank account set up with us, you’ll need to complete and return a withdrawal form.
If you don't have a printer, we can send that form to you, just send us a message, or call us on 0800 737 101.
Because our investment products are closed to lump sum deposits you will not be able to transfer funds to another Asteron Life policy. However, if your funds are not in a locked-in superannuation plan, you may be able to withdraw the balance and move it to another investment provider. This will depend on the terms and conditions of your investment product, so speak to your adviser, send us a message, or give us a call on 0800 737 101 to check what options are available.
Sorry, we’re no longer offering opportunities to new investors. If you’re an existing investment customer however, you might be able to choose to switch your investment and/or your future regular contributions into a different fund within your plan. Click here to request a switch/reallocation form.
If you already have your unit balance (from your latest unit statement), you can check the unit prices of your investment and calculate your fund balances. You’ll need either the name of your plan, the fund you’re invested in, or your plan number. If you want to know your unit balance or just want a fund balance, get in touch with us or call 0800 737 101.
EMAIL: Make an enquiry
PHONE:
0800 737 101 or +64 4 495 8700 (8:30am - 5pm Monday to Friday)
POST:
Asteron Life, PO Box 894, Wellington, New Zealand 6140
