Asteron Life Personal Insurance

Transcription

1 Asteron Life Personal Insurance

2 What lump sum covers are available with Asteron Life Personal Insurance? Life Cover Life Cover insurance pays a lump sum of money if you pass away or become terminally ill. Life Cover is designed to help your family pay costs that you would have helped with if you were still alive. You may also choose to have Life Cover that will only pay a lump sum if you pass away as a result of an accident Accidental Death Cover. Total and Permanent Disablement (TPD) TPD Cover provides a lump sum payment should you suffer a sickness or injury that leaves you totally and permanently disabled. Covers Cancer Cover Cancer Cover provides a lump sum of money if you are diagnosed with cancer. All early stage cancers are eligible for a partial that is the greater of $10,000 or 20% of the Cancer Cover sum insured. 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 44 medical conditions and procedures, as well as cover for all early stage cancers. What Monthly Income Covers are available with Asteron Life Personal Insurance? Mortgage and Rent Cover Mortgage and Rent Cover pays you a regular monthly payment if you re unable to work because you re sick, injured or have been made redundant or bankrupt. Mortgage and Rent Cover is designed to pay for your mortgage and rent while you re not receiving your salary or wages. We will pay you until you can return to work, or until you reach the end of the payment period on your policy. You can take out Mortgage and Rent Cover for your investment, residential or rental property. You can make as many claims as you need over the life of your policy. You can also keep the original amount you re insured for even if your mortgage reduces. Income Protection Cover Income Protection Cover pays you a regular monthly payment if you re unable to work temporarily or permanently because you are sick or injured. Income Protection Cover is designed to provide you with money to live on while you re not receiving your salary or wages. A is paid to you if you continue to be disabled after a predetermined waiting period. You choose how long you want the waiting period to be. Most people choose between 30 and 90 days. The longer the waiting period, the lower your premiums. We will pay you until you can return to work, or reach the end of the payment period on your policy. This can be up to the age of 70. Workability Cover Workability cover is designed to help you get back on your feet if you re unable to work as a result of sickness or injury. We ll help put a plan in place to assist with rehabilitation, retraining or support, to get you back to work if you experience a sickness or disability that s not already covered by ACC. Workability Cover can also pay you a regular monthly until you re able to get back to work, or you reach the end of the payment period on your policy. What s does Asteron Life Personal 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 to 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. Special Events Increase You can increase your existing life cover whenever a special event occurs in your life, such as taking out a mortgage or getting a pay rise. You can do this at a later date without any medical underwriting. This is useful because the amount of insurance you need may change as you get older. See your policy document for more information on special events. Special Events Conversion If you are under 50 years of age and you experience a special event, you can add accelerated Recovery or accelerated Modified TPD cover to your policy, without having to provide any further medical evidence. If there is no Life Cover attached to your policy, you may elect to convert your Stand Alone Recovery cover to Life insurance with Accelerated Recovery cover. You also have the option of increasing your cover every five years. 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 If you re given less than 12 months to live, you ll receive your Life Cover payment straight away. You can use the money for your immediate care, and help to plan a secure future for your family.

3 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. Partially Disabled Most disability income claims result in you unexpectedly becoming totally disabled and then progressively getting better over time i.e. shifting from total disablement to partial disablement before being able to resume work fulltime. Having a built-in Partially Disabled ensures you are protected until you resume work fulltime. Funeral Conversion You can choose to convert up to $30,000 of your Life Cover to a level premium Funeral. You can use this option at any time if you ve had your Life Cover for more than 10 years and you re 65 years or older. What s can you add to your Asteron Life Personal Insurance? We Pay Your Premium We ll pay your life insurance premiums if you re ill or injured, and can t work in your usual job for more than 10 hours a week. Needlestick For those who work in the medical and emergency service industries, a Needlestick gives you protection against the financial impact of contracting Hepatitis B or C or HIV. Terminal Illness Booster If you re diagnosed with a terminal illness and are given less than 12 months to live, we will immediately pay you your Life Cover plus an extra 25% (up to a maximum of $100,000). This will help you pay expenses related to your illness so you don t need to tap into your life insurance payment. Early We will make a partial payment (the greater of $10,000 or 20% of your total cover) for an additional 20 conditions such as serious accidental injury. We will pay this in addition to the 44 conditions that you re covered for your 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. Kids Cover You can have $10,000 of free trauma insurance for each of your children or grandchildren as part of your policy. Make sure you fill out the Kids Cover section in your application form to take advantage of this. You can also choose to increase the amount of Kids Cover up to $200,000 for just $1 per $10,000 per month. Conditions covered by Kids Cover includes: benign tumour of the brain or spinal cord blindness brain damage burns cancer* cardiomyopathy chronic kidney failure* deafness encephalitis intensive care loss of limbs or sight loss of speech major head trauma major organ transplant* meningitis paralysis stroke* terminal illness Extras Package The Extras Package for your Income Protection Cover gives you more s for greater protection, such as: an accommodation, which pays for your family to be with you if they live more than 100km away a family assist, which pays for a nurse or a family member to look after you at home a crisis, which pays you if you suffer from a listed condition such as cancer, heart attack or stroke, even if you re able to keep working a number of other valuable s see your policy document for a full list of what s available and how much money you ll receive for each 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.

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 Personal 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. RP320 (08/15)