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Life Insurance & Income Protection

Find the right type of Life Insurance for you
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Why insure with AAMI?

   Over 45 years' experience insuring Australians

   Straightforward claims process

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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:

LIFE INSURANCE

Life Insurance

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

What is Life Insurance?

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

Lump Sum

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

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.

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.

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.

INCOME PROTECTION

Income Protection

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

What is Income Protection Insurance?

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

Lump Sum

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

Monthly payments

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

Choose a 14, 28, or 90 day claim waiting period

The claim waiting period is the amount of time you must be off work due to sickness or injury before benefits are payable.

Choose a 6, 12, 24 or 60 month benefit period

The benefit period is the maximum period of time a claim will be payable.

Suspended premium

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

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

LIFE INSURANCE CALCULATOR
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

HOW TO
Apply for life insurance and income protection

Set up your Life Insurance or Income Protection today. Applying is quick and easy, there are no lengthy forms or medical tests to apply, plus you can get a quote online in minutes.

STEP 1

Get a quote

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

STEP 2

Review

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

STEP 3

We’ll be in touch

Someone from the AAMI Life team will give you a call to discuss your quote and answer any questions you may have.

LIFE INSURANCE
What's right for you?

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LIFE & INCOME PROTECTION INSURANCE
Frequently asked questions

  1. Includes customers of Asteron Life & Superannuation Limited (Asteron) and TAL Life Limited (TAL Life) which hold AAMI branded products. Asteron and TAL Life are part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Asteron and TAL Life are authorised to use the AAMI brand. The Suncorp Group is a distributor of life insurance provided by TAL.
  2. Asteron and TAL Life support and adhere 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 info@fsc.org.au or visit www.fsc.org.au.

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?

Ask the AAMI Virtual Assistant