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Why is Life Insurance Important?
Life Insurance can help ease your worries that your loved ones will be taken care of and may not have to deal with the financial strain that could arise from you no longer being around. They could receive a lump sum up to $1,000,000 if you die or are diagnosed with a terminal illness.
You may want to consider Life Insurance if you're;
- Aiming to assist your family financially e.g Children's education and living costs
- Suffering with or are worried about poor health
- Concerned about risks such as mortgage repayments and debts should you pass away.
How much cover do you need?
Calculate your cover needs in 3 simple steps
In the unfortunate event that you need to make a claim, we're here to ensure you receive the help you need as quickly and painlessly as possible. We're here to help.
1. Call us on 13 22 44 as soon as possible after the event
2. We will send you a claims pack to fill in
3. Send us the completed claim form & requested info
An insurer will generally take into account a range of personal and lifestyle attributes when considering your application, including your age, height, weight, medical history, occupation, family health history and smoking status.
Fortunately, most people are surprised to learn that life insurance is actually cheaper than they think. Adequate cover can start from as little as the cost of a takeaway coffee each week.
We’re sorry you’re thinking of cancelling. For policy cancellations or to discuss your situation further, please call us on 13 22 44. If you do cancel, you may qualify for a refund for the unexpired portion of the premium less our cancellation fee and any non-refundable government charges (if applicable).
It’s true that most super funds offer at least a basic level of life insurance, as well as income protection and Total Permanent Disability (TPD) insurance to protect members and their families from the financial hardship of death or a terminal illness.
The level of cover and types of insurance provided through your super are limited. Payments are also sometimes delayed after you’ve made a claim, and coverage ends after you reach a certain age (usually 65 or 70). Read more about the pros and cons about using the life insurance included with your super fund at Money Smart.
You can use our life insurance calculator to better understand your personal needs and identify any gaps in what you’re currently covered for through your super.
Because of the way premiums are calculated, it’s important we understand the health conditions and needs of every Life Insurance applicant. With AAMI Life Insurance, we don’t need you to go to the doctors or get any medical tests. You will be required to answer a number of Health and Lifestyle questions as part of the application, but this should be a quick and easy process without the need to consult a doctor.
You may be worried about the potential of your Life Insurance application being rejected as a result of the answers you provide us, but it’s important you don’t omit or hide information from us. If you do, you may end up not being able to receive payment for a claim you make down the track, when you might have been fully eligible for cover if you’d been up front in the first place.
- Premiums vary. The above is based on a 35 year old female non-smoker, $200,000 sum insured.
- 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.
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 firstname.lastname@example.org or visit www.fsc.org.au.