Life and Income Protection

 

 

Life insurance

Life insurance offers you the peace of mind knowing that your family will be financially protected should the unthinkable happen. Many people choose to take out life insurance because losing a loved one, or watching them suffer through illness, is distressing enough without adding a financial strain to everything. 

Aon offers four types of Life Insurance, including Income Protection Insurance, each designed to cover a range of different requirements.

Life and Terminal Illness - Aon Life Cover

In the event of death or terminal illness, Aon Life Cover pays a lump sum to eliminate any debt and provide security for your family should you die prematurely, or be diagnosed as terminally ill. The level of cover is designed to be enough to eliminate all debt and, when invested, adequately cover your family's future income needs. We are also able to offer an Accidental Death benefit, where if the insured dies within 90 days as the result of an accident, a benefit is paid.

How can Aon Life Cover help you?

  • Paying off the mortgage
  • Providing future financial support for any children you may have
  • Providing extra income for your family or contributing to your spouse’s retirement fund
  • Paying for childcare support in the instance that you are a primary caregiver  

What are the benefits of Aon Life Cover?

  • Death benefit: your family or nominated beneficiaries will receive a lump sum of money if you pass away
  • Terminal illness benefit: You'll receive your Aon Life Cover payment straight away if you're given less than 12 months to live
  • Financial planning benefit: We will pay you up to $2,500 for your family to receive professional advice from an approved financial planner
  • Grief support: We will pay up to $900 for your family to receive grief counselling from a professional counsellor
  • Funeral advancement benefit: We will make an advancement payment from your Aon Life Cover when a life insurance claim is accepted
  • Funeral conversion benefit: You can choose to convert up to $30,000 of your Aon Life Cover to a level premium funeral benefit. You can use this option at any time if you've had your Aon Life Cover for more than 10 years and you're 65 years or older.
  • Special events increase benefit: You can increase your existing Aon Life Cover whenever a special event occurs in your life, such as taking out a mortgage or getting a pay rise.

To find out more about Aon's Life Insurance Cover, get in touch with your local Aon Insurance Broker today. 

Talk to your local Aon Insurance Broker

Trauma Insurance

Living insurance, or trauma insurance pays a lump sum payment upon the diagnosis or suffering of one of a specific number of critical conditions and serious illnesses. The most commonly diagnosed illnesses in New Zealand are cancer, heart disease and stroke.

Common uses for Trauma Payments include:

  • Loss of income due to taking time off work to rest and recover
  • Paying for your spouse or family to take time off work to support you
  • Paying for alternative treatments or rehabilitation that are not covered by health insurance
  • Reducing debt
  • Paying for additional personal costs such as child care  

The above are examples, but the money can be used for whatever you choose that will help you during a difficult time.

Total and Permanent Disablement

Total and Permanent Disablement Insurance offers a lump sum payment that is made in the event that you are deemed unlikely to ever work again in your own/any occupation (dependent on your choice of cover). As with Trauma Cover, the money can be used for whatever you choose, but in most cases, is used to eliminate or reduce debt and provide cash reserves for treatment, rehabilitation or lost income.

Income Protection Insurance

Aon's Income Protection insurance is designed to pay you a benefit to replace any lost income in the event you cannot work because of illness or an accident. There are multiple options available that will provide you cover regardless of whether you are a wage/salary worker, self-employed or run your own business.

Some of our Income Protection Insurance solutions include:

  • Salary/Wage protection: receive a pre-agreed benefit on the basis that you cannot work in your normal occupation\
  • Business expenses: receive a pre-arranged amount on a monthly basis to offset on-going monthly expenses
  • Labour replacement: pays for alternative labour replacement. Common in the farming and transport sector where work must be done e.g., milking cows, managing livestock, replacement driver

To find out more about Aon's Life and Income Protection insurance solutions, get in touch with your local Aon Insurance Broker today. 

Talk to your local Aon Insurance Broker