Life insurance is what keeps your family’s finances secure if you die or are diagnosed with a terminal illness. Life cover pays out a lump sum to your nominated beneficiaries that can be used however it is needed, which allows your family to maintain their lifestyle without suffering financially. At a time when your loved ones are grieving, not having to worry about money can make a big difference.
What types of life insurance are there?
Term life insurance/Life Cover: A lump sum payment that goes to your beneficiaries if you pass away or are diagnosed with a terminal illness.
Trauma Cover: If you are diagnosed with a major medical illness or suffer an injury, trauma cover provides a lump sum that can cover your short-term expenses while you’re in treatment and recovery.
Total and Permanent Disability (TPD) Cover: If you become totally and permanently disabled and are no longer able to work, TPD insurance provides a lump sum payment.
Income Protection: If you are unable to work due to an injury or illness, income protection cover provides a monthly payment for a fixed period.
Before he came to us, Frank was paying for three separate insurance policies that were costing him over $10,000 a year. He was frustrated and disappointed with his insurers but didn’t know where to start.
With the help from one of our Senior Advisers he was able to amalgamate his policies into one comprehensive plan. With a new yearly premium of $6,000, and an insurer that has paid out over $2 billion in claims to Australians over the past two years Frank’s family was better protected and he was paying less.
Frank has since returned to us and we’re helping him with his Income Protection claim. As he recovers from knee surgery this money will help him support his family while he’s unable to work.
After years of paying premiums to the same insurer Maggie found herself in trouble when they suddenly refused to renew her policy. Due to a change in her health and her finances, she was told that no insurers would protect her. That’s when she came to us.
Our advisers were not only able to get Maggie the peace of mind that an underwritten life insurance policy brings; they also helped her save a few thousand dollars on her yearly premium. She was even able to save on her out of pocket expenses by opting to fund the new premium through her SMSF (self-managed super fund).
Maggie is now in the process of upping her cover to include a Trauma Insurance benefit with the help of one of our Senior Advisers.
With our help she’s making the journey from uninsurable to fully protected.
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Asteron Life wrote the very first life insurance policy in Australia more than 179 years ago. Today, Asteron Life remains a top trusted provider of life insurance throughout Australia. Asteron Life paid out more than $369 million in claims to 6,200 policyholders over the course of last year, providing much-needed help to families facing health crises or the death of a loved one.
Those who want a trusted and reliable life insurance provider offering a wide range of different types of cover can consider Asteron Life to get the coverage they need.
Asteron is a specialist insurance provider focused on offering high quality life insurance products that are designed to fit the lifestyles of customers. Asteron became the first major life insurance provider to offer no medical insurance coverage, allowing for a faster application process and more timely approval of your insurance application.
Specialist medical exams and mandatory ECGs are no longer required to obtain coverage and Asteron also allows you to use your own GP for some types of medical exams to secure coverage. Asteron also offers a broad range of Income Protection Insurance Options that require limited or no medical exams.
For those seeking TPD insurance, Asteron has made this process easier as well, reducing its eligibility period from six months to just three months. Claims can be made sooner, providing more immediate protection for you and your loved ones.
Asteron TPD cover, life cover, and income protection policies can be held through Super, including through a self-managed superannuation fund. Additional features include child cover; a waiver of premium options if you become disabled and unable to work; and a financial planning benefit to family members who receive a benefit payment under life cover. Asteron also offers Life Plus, a health and well-being program aimed at helping clients reach personal health and lifestyle goals.
Asteron Life provides many different types of cover including:
for each of your children with an adult policy. This ensure those you care about most are protected whether you face an untimely death or whether your children experience a serious injury.
tax salary to ensure your rent and bills are paid when you cope with serious medical issues.
it is possible to extend this coverage to age 70.
of mild or major heart attacks, among other medical problems.