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Life Insurance & Income Protection

Find the right type of Life Insurance for you
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There’s no one-size-fits-all policy when it comes to life insurance options. That’s why we’ve got different choices available to suit you and your family. You’ve probably got protection for things like your home and your car, so don’t skip insurance for your most valuable assets: your life and income. To help you work out the best option for your current needs, here are some of the main features of the different cover types:


What is Life Insurance?

Life Insurance can help minimise the financial burden of a death or terminal illness.

Lump sum

You or your beneficiaries could receive a lump sum of up to $1 million if you die or are diagnosed with a terminal illness.

Urgent payments

To help with immediate expenses like funeral costs, your family may receive an initial advancement benefit of $10,000.

Premium-free 13th month

After you’ve paid your policy for 1 year, your 13th month is premium-free.


What is Income Protection Insurance?

Income Protection can cover income lost due to injury or sickness, to pay for regular expenses.

Monthly payments

You can receive monthly payments covering up to 75% of your regular monthly income, with a limit depending on your cover.

30-day waiting period

A waiting period of 30 days applies with an option of a 1 or 2 year benefit period.

Suspended premium

While you’re claiming your cover, you don’t have to make your premium payments.


What is Accidental Injury Insurance?

Accidental Injury Insurance can help with upfront medical costs or everyday expenses if you suffer from a listed accidental injury.

Lump sum

You could receive a lump sum payment of up to $100,000 depending on your injury type and the package you’ve chosen.

No waiting period

Once your Accidental Injury claim is approved, your cover is paid out with no waiting period.

Waiting and no claim periods, payout limits, benefit periods and exclusions apply. Please see the PDS for more information.

How much life insurance do I need?

How would your family survive without your income and financial contribution? To work out how much life insurance is enough for your family, there are a few factors to consider. The size of your family, your age, your mortgage and debts and your family’s current and future lifestyle expenses will all influence the amount you should aim to be covered for. Being in control of your life insurance gives you the flexibility to make sure your policy covers you for what counts.

Use the Life Insurance Calculator

Apply for life insurance

Set up your Life Insurance or Income Protection Insurance online in three simple steps today. In just 5-10 minutes you can submit your application, enter your payment details and be instantly covered. You don’t need to make a phone call, and there’s no medical check required.


Get a quote

Start the online quote process and answer some simple Yes/No health & lifestyle questions to get your quote.



Review your quote and PDS, then set your premium preferences.


Add payment and confirm

You’re now covered. You’ll get an email confirmation and your policy documents will be posted to you for your records.

What's right for you?

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Frequently asked questions

  1. Includes customers of both AAI Limited ABN 48 005 297 807, AFSL 230859 (AAI), which is part of the Suncorp Group of companies and Asteron Life & Superannuation Limited (Asteron) which hold AAMI branded products. Asteron is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Asteron is authorised to use the AAMI brand. The Suncorp Group is a distributor of life insurance provided by TAL.
  2. Asteron supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email or visit

Accidental Injury

Accidental injuries include fractures, dislocations, severe burns, and loss of limbs or sight. For a full list and conditions, please refer to the PDS.

Monthly payments

Under Income Protection, you may be able to receive up to $10,000 each month. Under Redundancy Cover, you may be able to receive up to $4,000 each month.

Income Protection

Regular expenses could mean rent or mortgage repayments, bills and credit card repayments, childcare and schools, groceries, petrol, or something else.

Lump Sum

The total lump sum you or your beneficiaries are entitled to depends on your cover amount.

Initial Advancement Benefit

The initial advancement benefit is usually provided within 24 hours of an approved claim, and can be used to help meet immediate costs.

Life Insurance

Life Insurance can help with debt payments and your loved ones’ expenses through a tax-free lump sum payout.

Got a question?

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