You can’t anticipate an accident happening, but you can be prepared with accident insurance. Our Accident Recovery Insurance provides a cash payout to help you recover from certain types of accidental injuries.
Our Accident Recovery Insurance is available to people aged under 70 years. The policy covers you for 15 years. At the end of 15 years you can choose to renew your policy (if you're under 70 years) to be sure you're still protected. If you've been lucky and haven't claimed during the 15 year period, we'll refund 50% of the total premiums you've paid.
The amount you get depends on how severe your injury is and which of our two plans you have chosen. If your injury isn't included in the list below and you have to stay in hospital for more than 48 hours, you still benefit - we'll give you a cash allowance each day you're in hospital (up to a maximum of 10 days).
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.
You enjoy a 30-day no-obligation review – if AA Life Accident Recovery Insurance is not what you expected or you changed your mind we'll cancel your policy and refund any premiums paid.
If you're a New Zealand resident under 70 years, you're eligible. If you're older and would still like Accident Recovery Insurance call us on 0800 808 175 - we'll work something out for you.
If the accident results in your death, there is an accidental death benefit of $20,000. This could help your family pay for your funeral and tie up loose ends.
Your level of insurance cover reduces by 10% each year between your 75th and 85th birthdays.
Personal accident insurance premiums stay the same for the term of your policy.
You decide how and what you spend your payout on.
You do not need a medical, nor do you need to answer any medical questions.
All cover will end when you turn 85.
You're covered anywhere in the world.
|Who it covers||People under 70 years|
|Application process||Guaranteed acceptance with no medical questions|
|Coverage begins||Immediate cover on acceptance|
|Coverage types||15-year coverage for Accident Recovery; Accidental death payout of $20,000|
|Coverage term||Covers you up to age 85|
|Payout amount||Pays out up to $125,000|
Under this policy, cover is provided if you:
Please see the Accident Recovery policy document for a full list of exclusions, but these are some of the main areas not covered:
Premiums can be paid fortnightly, monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit, credit card or cheque.
Yes, you can reduce your cover at any time. If you want to increase your cover, you’ll need to answer a few simple questions about your health.
Yes, there is a 30-day, no-obligation review period. If the product is not what you expected or you change your mind we'll cancel your policy and refund any premiums paid.
Yes, we will refund a proportion of the premium, depending the date of cancellation. For example, if you pay an annual premium in January and you cancel in June, we’ll refund your premiums from June until December.
Yes. We can send you a nominated beneficiary form to fill out with your beneficiary’s details. Their details will be loaded up with your policy and any payouts will then be made to them.
It should take less than 30 minutes.
Accident Recovery is not an investment policy so there is no surrender value and no cash back if you decide to cancel your policy.
To make a claim, contact AA Life on:
You must tell us in writing of any Accident or Injury that you might put in a claim for as soon as possible.
We will tell you what evidence we require. The Policy Owner or your estate is responsible for the cost of providing this evidence.
When a claim for a Disability Condition is made we may require you to have 1 or more medical examinations at our expense.
Payments under this policy will be made when:
You can only be covered by one AA Life Accident Recovery Insurance policy issued by Asteron Life. If you have another AA Life Accident Recovery policy we will use the one with the earliest start date. We will cancel any later AA Life Accident Recovery Policy and return any premiums paid.