Life Insurance

 

Cover Type Benefit Payment Type Insured Events Possible purposes
Life Cover Lump sum / Installments When the life insured dies or becomes terminally ill
  • To pay out debt
  • Leave money for family to live on or help with living expenses
  • Estate planning
  • Business buyouts
Permanent Unable to Work Cover Lump sum When the life insured becomes permanently unable to work
  • To pay out debt
  • Have funds to continue standard of living and cover medical expenses etc
Critical Illness Cover  Lump sum When the life insured suffers a specified serious illness
  • To pay out debt and cover the costs of lifestyle changes and home adjustments, medical expenses and stopping work etc.
Income Protection Cover Monthly benefit When the life insured is temporarily, totally or partially disabled and unable to work due to illness or injury
  • To replace wages or salary so you can cover bills
  • Mortgage payments
  • Daily living costs etc.
Business Expense Cover Monthly benefit When the life insured is temporarily, totally or partially disabled and is unable to work due to illness or injury
  • To pay overheads and regular ongoing bills of your business (e.g. rent, employees' salaries)
Child Cover Lump sum When the insured child suffers a specified trauma condition or dies
  • To cover costs of caring for a child, such as home adjustments, stopping work and medical expenses
5 Year Mortgage Repayment Insurance Monthly mortgage repayments Death, Disability, Unemployment
  • To assist the insured with their mortgage repayments in the event the insured becomes disabled or unemployed. Pay out loan balance in the event of death (subject to limits)
Loan Cover Insurance Monthly loan repayments Death, Disability, Unemployment
  • To assist the insured with their personal loan repayments in the event the insured becomes disabled or unemployed. Pay out loan balance in the event of death (subject to limits)

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.