Asteron Life Cover

Asteron Life Cover

What would your family do if you were no longer able to provide for them? Looking after the financial future of those you care for can be possible with Asteron Life – Life Cover. If you suddenly die or are diagnosed with a terminal illness, the policy can pay you or your nominated beneficiaries a lump sum payout to cover your family’s future needs. This can help prevent your family from drawing down on their assets or taking out loans to provide for their basic day-to-day expenses.

Along with TPD Cover, Trauma Cover and Income Protection, Asteron’s Life Cover forms part of Asteron Life Complete, a comprehensive suite of insurance covers that can be held inside or outside of your super.

Asteron Life Complete Life Cover can help you with:

  • Loss of income to help your family with ongoing financial support needed to maintain their lifestyle. This can help ensure the education and health of your family doesn’t change in the event of your death.
  • Reducing debt with a lump sum paid to your family, should you choose to obtain your policy as a lump sum rather than monthly installments.

What’s included?

Asteron Life complete Life Cover can provide your nominated beneficiaries with a lump sum payment in the event of your death, plus a whole range of built-in and optional extras. In addition to receiving worldwide coverage, automatic inflation increases, grief support, guaranteed upgrades of features and guaranteed insurability, Life Cover also provides:

  • Terminal illness benefit
    If you’re diagnosed with a terminal illness and not expect to live, Asteron will pay you your lump sum in full.
  • Funeral advancement benefit
    In the event of your accidental death during the first 3 years of your cover, Asteron will pay an advanced benefit of up to $20,000 to your family.
  • Financial planning benefit
    If Asteron pays you or your family your Life Cover benefit or a Terminal Illness benefit, you could be reimbursed for up to $2500 to cover the costs of getting a financial plan written up.
  • Waiver of premiums
    You won’t have to pay your premiums if you’re under 65 and become disabled.
  • Premium and cover suspension benefit
    If you’re unemployed, take maternity/paternity leave, take long term leave or experience financial hardship, Asteron Life lets you suspend your cover for up to 12 months.
  • Premium freeze option
    If you’re paying your premiums on a stepped basis, you have the option to freeze your premiums at any time. This means your future premiums will stay the same.
  • Business security option*
    You can triple your Life Cover benefit sum once a year if you experience one of the specified business events.
  • Child cover*
    If your child becomes seriously ill, Asteron will pay you a benefit amount to cover the costs of medical treatment or to give you the financial means to take time off work to be by your child’s side.
  • Healthy life option*
    You could receive a discount on your premium if you’re paying it on a stepped basis.

* Only available at an extra-cost.

Want to compare this policy with others? You can compare Asteron’s insurance policy’s with other insurance providers online for free.

© 2012 Wealth Smart Life InsurancePage last updated: April 12, 2014