Asteron Life Business Insurance

Transcription

1 Asteron Life Business Insurance

2 What lump sum covers are available with Asteron Life Business Insurance? Life Cover Life Cover pays a lump sum of money if you pass away or become terminally ill. Total and Permanent Disablement (TPD) Cover TPD Cover provides a lump sum payment when you suffer a sickness or injury that leaves you totally and permanently disabled. Asteron Life s Business Insurance covers are especially designed to protect the owner of a business if something should happen to them or a key person in the business. Recovery Cover Recovery Cover pays you a lump sum of money to help you recover physically and financially from a serious illness. The most common illnesses linked to trauma insurance in New Zealand are cancer, heart attack, and stroke. Recovery Cover has built-in cover for 43 medical conditions and procedures as well as for all early stage cancers. What Monthly Income Covers are available with Asteron Life Business Insurance? Business Disability Business Disability Cover is useful if an owner or key person is temporarily unable to work for up to two years because they become ill or injured. It provides the business with a regular monthly payment to keep operating while you find a temporary replacement you may need to allow for decreased revenue and increased costs while the owner or key person is off work. Farmers Disability Farmers Disability Cover pays a monthly if you need to take time off work on the farm due to illness or injury. It means you can hire a contractor to work on the farm and perform the duties that you would do. While you re out of action we will pay a monthly of 35% of farm turnover. This can be used to hire a contractor or to cover farm running costs. Business Expenses Business Expenses Cover pays business expenses for up to 12 months at a time if you re unable to work because you re sick or injured. If you re a small business owner, your business is probably committed to costs that you would need to pay even if you re not making as much money as usual. Business Expenses Cover can keep your business running smoothly while you re sick.

3 What s does Asteron Life Business Insurance include? Financial Planning We will pay up to $2,500 for your family to receive professional advice from an approved financial planner. This helps them decide the best way to use the money you have left them. Inflation Adjustment Each year Asteron Life will offer to increase your sum insured by the rate of inflation, according to the consumer price index (CPI), without the need for further medical or financial underwriting. Grief Support We will pay up to $900 for your family to receive grief counselling from a professional counsellor. Guarantee of Upgrade If we make any future improvements to your policy (without any increase in premium rates) we will provide these improvements to your policy without charging any additional premium. Terminal Illness You ll receive your Life Cover payment straight away, if you re given less than 12 months to live. You can use the money for your immediate care, and help to plan a secure future for your family. Funeral Advancement We will make an advance payment of $15,000 from your Life Cover sum insured after receiving evidence of the insured person s death. This pays for immediate expenses such as a funeral. TPD fast-track Asteron Life will waive the requirement for you to be unable to work for a continuous period of at least three months before you are eligible for the TPD, if you suffer from one of 13 serious medical conditions. Recurrent Disability You can receive your again straight away, if the same disability starts up again within 12 months of being back at work. We will waive your stand-down period. What is our Business Security? You can also choose to take the Business Security as part of your policy. What s can you add to your Asteron Life Business Insurance? We Pay Your Premium We ll pay your Life Cover premiums if you re ill or injured and can t work for more than 10 hours a week. Needlestick The Needlestick gives you protection against the financial impact of contracting Hepatitis B or C or HIV, for those who work in the medical and emergency service industries. Early We will make a partial payment (the greater of $10,000 or 20% of your total cover) for an additional 19 conditions such as accidental injury. We will pay this in addition to the 43 conditions that you re covered for with Recovery Cover. Major We ll pay you your Major if you experience a major event or illness. This can be paid out along with your Recovery if you have not yet claimed on it. Alternatively, if your event or illness is not considered major but you re eligible for the Recovery, your Major will remain in place to keep you covered for all major conditions including conditions that relate to your Recovery claim. See the policy document for a full list of what you re covered for. Reinstatement You can reinstate your Recovery Cover after you ve claimed on it, so that you can claim it again in the future. Life Cover Buy Back You can increase your Life Cover back to its original amount when your trauma claim comes out of your Life Cover when you have the accelerated version of Recovery Cover. What are my payment options? Level premium payments. You can choose a level premium payment option and lock your premium payments in so they don t increase with age like a fixed-rate mortgage. Stepped premium payments. Stepped premiums start lower than level premiums but increase each year based on your age at that time. The Business Security is useful if your business is likely to increase in value over time, because you can increase your level of cover as well without any further health assessment. Increasing your cover avoids extra loading on premiums if there has been a downturn in the health of the insured person when premiums recalculated. The Business Security is available on lump sum covers, as well as Business Disability and Farmers Disability covers. You can increase your level of Life Cover by up to five times the original sum insured, to a maximum of $10 million.

4 Medical conditions and procedures covered by Early, Recovery and Major s General category Medical condition or surgical procedure Early Recovery Major Blood Advanced AIDS Aplastic anaemia Cancer and tumours HIV medically acquired HIV occupationally acquired Benign tumour of the brain or spinal cord Cancer Early stage cancer * Connective tissue Severe osteoporosis Severe rheumatoid arthritis Systemic lupus erythematosus (SLE) with nephritis Systemic sclerosis Ear Deafness Loss of hearing in one ear Endocrine Diabetes Eye Blindness Loss of sight (one eye) and limb Single loss of limb or eye Gastrointestinal Chronic liver failure Colostomy and/or ileostomy Severe Crohn s disease Severe ulcerative colitis Heart and artery Cardiomyopathy Coronary artery angioplasty Coronary artery angioplasty triple vessel Coronary artery bypass surgery Heart surgery (open) Heart attack Out of hospital cardiac arrest Pulmonary hypertension Repair or replacement of aorta Repair or replacement of valves Severe peripheral vascular disease

5 General category Medical condition or surgical procedure Early Recovery Major Kidney and urogenital Chronic kidney (renal) failure Major organ transplant Major organ transplant (placement on waiting list or undergoing transplant) Musculoskeletal trauma Loss of limbs Burns Respiratory Chronic lung failure Pneumonectomy Pulmonary hypertension Stroke and nervous system Alzheimer s disease Coma Creutzfeldt-Jakob disease Dementia Encephalitis Hydrocephalus Loss of speech Major head trauma Meningitis Motor neurone disease Multiple sclerosis Muscular dystrophy Paralysis Parkinson s disease Peripheral neuropathy Stroke Other Intensive care Modified total and permanent disablement Serious accidental injury Loss of limbs Loss of sight (one eye) and limb Loss of independent existence Significant cognitive impairment * Early stage cancer is a partial payment only. It s paid on the diagnosis of all early stage cancers.

6 Talk to your insurance adviser about how to get Asteron Life Business Insurance. Disclaimer: The information in this brochure is a general summary only, and is not personalised to your situation. If you would like advice which takes account of your particular financial situation and goals, please contact your financial adviser. Full details of the policy terms and conditions are available from Asteron Life Limited ( Asteron Life ) or your financial adviser. Terms, conditions, exclusions and limits apply. A number of terms used in this brochure carry a specific definition set out in the policy document. If there are differences between the information in this brochure and the policy document, then the policy document will prevail. Availability of insurance cover is subject to Asteron Life s acceptance and approval of a complete application. Any payment is subject to your claim being accepted. RP319 (08/15)