“Policies were easy to follow and a good price.”David Bloomer
$500,000 Life Cover for $16.43 fortnightly
“…less difficult than I thought it would be.”Zoe Evans
$459,000 Life Cover for $22.02 fortnightly
“I’ve been to a lot of tangi…you see the struggle.”Carli Te Hira
$500,000 Life Cover for $26.12 fortnightly
“It feels good to know it’s done.”Sarah Gatjens
$250,000 Life Cover for $9.77 fortnightly
“You think it’s not going to happen, but it does...”Leanne Ellis
$350,000 Life Cover for $11.48 fortnightly
Take care of what's important
Life Cover pays out a tax-free lump sum if you die or are diagnosed with a terminal illness, plus $10,000 can be paid early to help with funeral costs.
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Easy set up
The application process involves a few easy questions you can answer online, over the phone, or at an AA Centre.
Tax-free, lump sum payout
Accepted claims will have the full amount of cover you’ve chosen paid out as a lump sum.
If you’re diagnosed with a terminal illness this policy pays out early.
Who is cover for?
Anyone in New Zealand aged 16 to 55 can apply.
Cover never expires
You’re covered as long as you keep paying the premiums.
Flexible payment options
Choose to pay at a frequency that works for you. Basic cover (recommended at a minimum) starts at $20 a month.
AA Members get a 5% discount on new policies, plus you may qualify for a 10% health and lifestyle discount depending on your answers to a few simple questions.
We’ll make sure your cover keeps pace with inflation and your age, and adjust your premiums accordingly. Or you can ‘freeze’ your premiums and we’ll adjust your cover each year in line with your increasing age.
You can decrease your cover at any time and we’ll adjust your premiums to suit. Talk to us if you need an increase and we can check if you’re eligible.
Designate a beneficiary
Your payout can be made to someone you choose, bypassing your estate and making the money available more quickly.
Funeral costs paid out immediately
You'll immediately receive a $10,000 pay out to help cover your funeral costs.
Sound financial backing
Life Cover is backed by Asteron Life’s A+ Standard & Poor’s Financial Strength Rating, which indicates strong financial security characteristics.
30-day trial period
You can cancel your policy within 30 days and we’ll refund 100% of the premiums you’ve paid.
|Who it covers||Most people aged 16-55 can be covered|
|Application process||Health and lifestyle questions|
|Coverage begins||Immediate cover on acceptance|
|Coverage types||Death, terminal illness, and funeral support|
|Coverage term||Annually renewable|
|Payout amount||Up to $1 million|
- Death, with an immediate payout for funeral expenses.
- Terminal illness diagnosis of any kind where life expectancy is less than 12 months and excluding HIV/AIDS.
What's not covered by this policy
- Any death as a result of participating in a criminal or illegal act is not covered by this policy.
- Death by suicide is not covered for the first 13 months of cover.
- Death at any time as a result of HIV or AIDS.
- Some hazardous activities and sports are not covered – see policy wording for full details.
- Death that occurs from being in a country or region deemed ‘Extreme’ or ‘High’ risk by the New Zealand Government.
- Please see the Life Cover policy document for a full list of exclusions.
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 to ensure you are eligible to increase.
The money is yours to spend as you like. There are no restrictions on what you can or can’t spend your payout on.
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 on 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.
Your premium generally increases each year based on your age, gender, smoker status, and your amount of cover. You’ll receive a statement every year updating you about your adjusted premium.
Yes. We can send you a nominated beneficiary form to fill out with your beneficiary’s details. It is recommended that you put into place some provisions on how you’d like the payment be administered, I.e. organising a will, trustee or guardian. Their details will be loaded up with your policy and any payouts will then be made to them.
Human Immunodeficiency Virus (HIV) or Acquired Immunodeficiency Syndrome (AIDS) are excluded.
It should take less than 30 minutes.
Life Cover is not an investment policy so there is no surrender value and no cash back if you decide to cancel your policy at any time.
It’s our job to make any insurance claim process as easy and straightforward as possible – we appreciate this may be a difficult time for the person submitting the claim. You or your representative can simply call us on 0800 808 175 to get the ball rolling.
To claim a terminal illness benefit
Please provide us with:
- Your doctor’s contact details so we can confirm your prognosis.
- Proof of age (passport, driver license, or birth certificate).
- The policy document.
- A completed claim form.
To make a death claim
Your representative will need to provide the date of death, cause of death, and contact details for the administrator of your estate. We’ll contact them to get the rest of the information we’ll need to process the claim, which may include:
- A death certificate.
- A copy of your will and other legal documents.
- Your medical records.
- A completed claim form.
Once these documents have been received and your claim has been accepted, the money will immediately be paid to your estate or the person you’ve chosen to receive it.