You can't predict the future, but you can help protect yourself against it. Life Insurance can provide a lump sum of money if you die or become terminally ill.
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:
- Ensuring funds to cover 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
Terminal illness support
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.
Funeral advancement
We will make an advance payment from your Life Cover when a life insurance claim is accepted. This pays for immediate expenses such as a funeral.
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:
- Kids Cover
- We pay your premiums
- Needlestick
- Funeral benefit
Other types of cover
If full Life Insurance is not for you, you may want to consider Accidental Death Insurance, which will pay a lump sum benefit if you pass away as a result of an accident.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.
