Life Cover

Life cover pays a one-off payment in the event of your death or terminal illness.

This lump sum can help reduce debt and create an investment fund to generate ongoing income or provide an inheritance for your children.

Product options and benefits:

Funeral Benefit:

• Most insurers offer an advance payment to assist with immediate expenses whilst your claim is being processed. This is generally between $10,000 to $15,000 depending on the product implemented.

Worldwide cover:

• You can rest assured you are covered 24/7 worldwide.

Special events increase option:

• Most insurers recognise that there are a number of life events whereby you may need to increase your cover and this may include the following, marriage, the birth of a child, salary increase or career change, taking out or increasing a mortgage on your home, tertiary education of a child.

Inflation adjusted cover:

• Your cover level will increase each year to reflect the inflation rate at the time. This ensures that your life cover benefit can continue to deliver the same real value to you as when it was purchased. You can decide to decline any increase in any given year without losing the automatic increase in the following years.

Premium options:

• There are two different premium options available when purchasing life cover either a yearly renewal term where the premiums are based on your current age or a level term policy where the premiums are guaranteed for a set period of time.
• Please refer to your specific policy document as each insurer has different benefits – this information is a general guide.