Life and Terminal Illness
In the event of death or terminal illness, 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 could Life Cover help you?
• Paying off the mortage
• Providing future financial support for your children
• Providing extra income for your family or contributing to your spouses retirement fund
• Paying for childcare support in the instance that you are a primary caregiver
What are the benefits of 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 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 conversion benefit: You can choose to convert up to $30,000 of your Life Cover to a level premium funeral benefit. 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.
• Special events increase benefit: 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.
Income Protection Insurance
How would you or your family survive if you were unable to work as the result of an accident? Income protection insurance through Aon is designed specifically to protect your ability to earn. In the event that you were unable to work due to illness or injury, income protection insurance will pay you a benefit to replace lost income. There are multiple policy options that are available to you that will provide cover regardless of whether you are a wage/salary worker, self-employed or run your own business. Some of our income protection 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
Contact us for more information on our income protection insurance options.