Join the AA

Term Life Insurance

AA Life Term Life Insurance provides a lump sum payout as death cover to cover funeral costs, living costs and help pay off any debts like a mortgage or credit card bill.

It’s straightforward, affordable full term life insurance cover.

Apply online before 31 May 2012 and your first month’s cover is free.

Benefits

Once accepted, you're covered

There are a few medical and lifestyle questions to answer, but as soon as your application is approved, you're covered.

Immediate cover

Immediate cover as soon as we receive your fully completed acceptance form.

Length of cover

Your term life insurance policy will continue to cover you for as long as you want it to.

Early payment for terminal illness

If you're diagnosed with a terminal illness you'll receive your protection insurance payout early - so you can enjoy it in the time you have left.

Money is paid tax-free

It's a lump sum payout just like full life insurance. There is no income tax paid on the policy payout so you get all of the amount you are covered for.

$5000 early payout

Option to have $5,000 paid out early to help cover immediate funeral costs.

You can nominate a joint owner

This can be your partner, spouse or anyone you wish. When you die, the payment will be made directly to them instead of your estate, making the money quickly available.

Annual premium review

Premiums are reviewed annually to account for your age and inflation adjustments to your life cover level. Your term life insurance cover level will be adjusted to keep up with inflation once a year to ensure your insurance life cover won't leave you short.

Easy application process

No lengthy, complicated forms to complete, just a short, simple medical and lifestyle questionnaire to answer.

Reach of cover

You're covered anywhere in the world.

30-day no-obligation review

You enjoy a 30-day no-obligation review - if it's not what you expected or you change your mind we'll cancel your policy and refund any premiums paid.

Other information

What isn't covered

There are a few instances where a death claim will not be paid out, including if you commit suicide within the first 13 months of the start of your policy, die as a result of something excluded from your policy such as a dangerous sport or a pre-existing condition, or as a result of a criminal act. The Policy wording has full details.

Cover for existing medical conditions

The impact of your condition will need to be assessed by our experienced underwriter who may contact you and/or your doctor to discuss your condition. It could result in increased premiums to reflect the extra risk associated with your medical condition or exclusion of your condition from your policy. Then again it may have no effect on your premium or policy. It all depends on the seriousness of your condition and how it's being managed.

Paying premiums

Premiums can be paid monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit, credit card or cheque.

How to make a claim

You, or the person looking after your affairs, will need to contact us on 0800 808 175 to inform us of your illness or death so we can start the claim process. For a claim on the terminal illness benefit, we'll need your doctor's contact details, so we can confirm your prognosis. We'll also need proof of age (passport, driver licence or birth certificate), the policy document and the completed claim form.

For a death claim, we'll need the date of death, cause of death and contact details for the administrator of your estate, e.g. solicitor or a family member. We'll contact the administrator of the estate for any further information needed to process the claim, such as:

the completed claim form
the death certificate
proof of age - passport, driver licence or birth certificate
the policy document
your will (if you have one) - this will not be required if you have selected a second owner
any medical information

We may also require Probate or Letters of Administration (legal documents required if you have more than $11,000 worth of cover going to your estate).

Once these documents are received and the claim is accepted, it will be settled immediately. The payout will go to your estate or second owner, the person you've chosen to receive the payment.