Life Insurance

Talk to an Adviser about Life 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

Public notice of Financial Strength rating downgrade
Find out more 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 Life Insurance?

Life Insurance pays a lump sum of money if you pass away or become terminally ill. It is designed to help your family pay costs that you would have helped with if you were still alive.

Most people use Life Insurance for:

Ensuring funds to cover funeral expenses
Providing funds to their family after they've gone
Clearing debt such as credit card, personal loans, mortgage
Paying for childcare support if the person who passed away was the primary caregiver
Providing future financial support for their children
Some people who are terminally ill choose to access a portion of their life insurance to help with the cost of treatment or to tick experiences off their bucket list

Life Insurance benefits

Death benefit

Your family or nominated beneficiaries will receive a lump sum of money if you pass away. If you have been diagnosed with a terminal illness and have a life expectancy of 12 months or less, you may receive payment of your Life Cover early.

Repatriation benefit

Your family or nominated beneficiaries can be reimbursed for the direct costs of bringing your body back to your home country if you die overseas. This is an advance payment from the Life Cover.

Early payment for some terminal conditions

If you have been diagnosed with one of 8 specific conditions or you have been given a life expectancy of 24 months or less, you may receive early payment of part of your Life Cover. This can you and your family more options.

Funeral advancement

We will make an advance payment from your Life Cover when a life insurance claim is accepted. This pays for the immediate funeral expenses.

Financial planning

We will pay for your family to receive professional advice from an approved financial planner. This helps your family decide the best way to use the money they will receive.

Grief support

We will pay to help with the cost of professional grief support during the grieving process.

Funeral conversion

You can choose to convert some of your Life Cover to a level premium Funeral benefit.

Optional benefits you can choose to include:

Lets you cover your kids too.

We pay your Life Cover premiums if you can’t work more than 10 hours per week due to illness or injury.

Covers medical workers who contract Hepatitis B or C or HIV during work.

Pays out a lump sum if you die or become terminally ill.

Pays a lump sum if you’re given less than 24 months to live. You can use the money for your immediate care and help to plan a secure future for your family without having to tap into your Life Cover.

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 policy 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 Life Cover. Don't worry though, your adviser can take you through these and what they mean.

Other types of cover

If full Life Insurance is not for you, you may want to consider Accidental Death Insurance, which will pay a lump sum benefit if you pass away as a result of an accident.

Accidental Death Insurance

Unsure?

Talking to an adviser will help you focus on what’s important to you, and it's even more effective with a little preparation.

Use our handy LifeSnap tool to prepare for your conversation with an adviser so you don't have to think on your feet!

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

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Frequently asked questions

How much life insurance do I need?

How much you'll need if something happens isn't always obvious. Your adviser will work with you to uncover both the obvious and the hidden needs that crop up, so you can decide what your priorities are and how much you'll need.

Who gets the money should I die?

Generally, the person who owns the insurance policy or their nominated beneficiary will get the money. A financial adviser can help you make sure the money goes to the people you want to receive it, without any hiccups.

Resources and forms

Life Insurance brochure

Request a Personal Insurance Summary

Life claim form

Already a customer?