97% of claims accepted and $112m paid to customers from
1/7/23 - 31/6/24
What is Life Insurance?
Life Insurance pays a lump sum of money if you pass away or become terminally ill. It is designed to help your family pay costs that you would have helped with if you were still alive.
Most people use Life Insurance for:
- Covering funeral expenses
- Providing funds to their family after they've gone
- Clearing debt such as credit card, personal loans, mortgage
- Paying for childcare support if the person who passed away was the primary caregiver
- Providing future financial support for their children
- Some people who are terminally ill choose to access a portion of their life insurance to help with the cost of treatment or to tick experiences off their bucket list
Life Insurance benefits
Death benefit
Your family or nominated beneficiaries will receive a lump sum of money if you pass away. If you have been diagnosed with a terminal illness and have a life expectancy of 12 months or less, you may receive payment of your Life Cover early.
Repatriation benefit
Your family or nominated beneficiaries can be reimbursed for the direct costs of bringing your body back to your home country if you die overseas. This is an advance payment from the Life Cover.
Early payment for some terminal conditions
If you have been diagnosed with one of 8 specific conditions or you have been given a life expectancy of 24 months or less, you may receive early payment of part of your Life Cover. This can you and your family more options.
Funeral advancement
We will make an advance payment from your Life Cover when a life insurance claim is accepted. This pays for the immediate funeral expenses.
Financial planning
We will pay for your family to receive professional advice from an approved financial planner. This helps your family decide the best way to use the money they will receive.
Grief support
We will pay to help with the cost of professional grief support during the grieving process.
Funeral conversion
You can choose to convert some of your Life Cover to a level premium Funeral benefit.
Optional benefits you can choose to include:
Lets you cover your kids too.
We pay your Life Cover premiums if you can’t work more than 10 hours per week due to illness or injury.
Covers medical workers who contract Hepatitis B or C or HIV during work.
Pays out a lump sum if you die or become terminally ill.
Pays a lump sum if you’re given less than 24 months to live. You can use the money for your immediate care and help to plan a secure future for your family without having to tap into your Life Cover.
Lump Sum Support when you need it. Receive this benefit if you suffer any of 29 specified injuries (ranging from broken bones to paralysis). The benefit is payable even if you are still able to continue working. Check the policy document for the full list of injuries and payment periods.
Ready to speak to an adviser?
If you would like to know more about Life Insurance we can put you in touch with an adviser who can explain the different options available.
Speak to an Adviser
Frequently asked questions
How much life insurance do I need?
How much you'll need if something happens isn't always obvious. Your adviser will work with you to uncover both the obvious and the hidden needs that crop up, so you can decide what your priorities are and how much you'll need.
Who gets the money should I die?
Generally, the person who owns the insurance policy or their nominated beneficiary will get the money. A financial adviser can help you make sure the money goes to the people you want to receive it, without any hiccups.
Disclaimer: The information provided above 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.