Workability Insurance

Talk to an Adviser about Workability Insurance. They can:

Find the best products for your budget and needs

Provide customised advice and keep your insurance up-to-date

Be impartial, as they are not Asteron Life employees

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Life Insurance Company of the Year
Winner – 2023 New Zealand Insurance Industry Awards

Excellence in Workplace Diversity and Inclusion
Winner - Suncorp New Zealand, 2019 New Zealand Insurance Industry Awards

Financial strength
Find out about our financial strength rating and solvency

94% of claims accepted and $121m paid to customers from 1/7/22 - 31/6/23

What is Workability Insurance?

Workability Insurance is designed to help restore your ability to work, supporting you with monthly payments if you’re not eligible for ACC payments. It can also provide assistance with rehabilitation and retraining.

Workability Insurance benefits

Rehabilitation and retraining support

We’ll help you get a plan in place for your recovery and reimburse you for your approved rehabilitation, retraining or support costs subject to policy limits

Short term support

Pays a lump sum if you are diagnosed with a terminal illness. You can use the money for your immediate care and help to plan a secure future for your family

Long term support

Pays you a monthly benefit once your short-term support benefit has expired and your disability means you’re unable to earn at least 75% of your pre-disability income in a role based on your existing education, training and experience

Transition support

If you need to change jobs because of your disability we’ll reimburse you up to $2,000 for costs that come with you securing the new role, for example new work clothes, equipment or tools

ACC continuation

If ACC declines your claim, or stops paying your weekly compensation we’ll assess your claim under our criteria

Premium waiver

We’ll waive your premiums if you’re disabled and you’re receiving a Short-term or Long-term support benefit

Inflation adjustment

Each year your sum insured can be increased without the need for further medical or financial underwriting

Income update

If you’re younger than 55 years, you’re not currently receiving a benefit under this policy and premiums aren’t being waived, then you can increase your monthly benefit each policy anniversary by up to 10%. This can come in handy if you’ve had a pay increase at work

Premium and cover suspension

We can suspend your cover and premiums for a minimum of 3 months and a maximum of 12 months if you meet the criteria

Optional benefits you can choose to include:

While receiving your monthly benefit, the amount will increase at every policy anniversary in line with inflation.

Lets you cover your kids too.

Lump Sum Support when you need it. Receive this benefit if you suffer any of 29 specified injuries (ranging from broken bones to paralysis). The benefit is payable even if you are still able to continue working. Check the policy document for the full list of injuries and payment periods.

If you have an existing policy with Asteron Life, your benefits may be different from our current on-sale products, so it’s a good idea to check things with your adviser.

There are terms and conditions that apply to all benefits within Workability Insurance. Don't worry though, your adviser can take you through these and what they mean.

Other types of cover

Income Protection Insurance is similar to Workability but has a number of additional benefits and options available.

Income Protection Insurance

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Simon’s story

Simon Evans had always insisted that Multiple Sclerosis was never going to define him. Thanks to his Income Protection Cover with Asteron Life it never has.

Read Simon’s story

Ready to speak to an adviser?

If you would like to know more about Workability Insurance we can put you in touch with an adviser who can explain the different options available.

Speak to an Adviser

Frequently asked questions

If I’m receiving weekly compensation payments from ACC will I also be eligible to receive the Workability Insurance monthly benefit?

No, Workability Insurance only offers you income replacement support when ACC doesn’t. It’s good to know that ACC only provides support for accidental injuries.

If my ACC payments stop but I’m still unable to work, will Workability Insurance pay me a monthly benefit?

As long as you meet our benefit criteria, we’ll pay you a monthly benefit if you’re not receiving regular payments from ACC.

What is the difference between Workability Cover and Income Protection Cover?

Workability Insurance is more affordable income protection insurance. It doesn’t include the bells and whistles that come with our premium Income Protection Insurance. Your adviser can help you figure out if Workability Insurance is right for you. If you don’t have an adviser, we can help you find one.

Resources and forms

Workability Insurance brochure

Request a Personal Insurance Summary

Already a customer?