What's the difference between life insurance products?
Some life insurance products offer more comprehensive cover than others:
- Some are designed to payout only if you die as a result of an accident
- Some are designed to pay for your funeral while others are intended to help you through critical illness or to recover from an accident
Full life insurance gives you more comprehensive cover for death and will payout for most of the ways you could die such as a natural cause, an illness or an accident.
Mortgage Protection Insurance is full life insurance designed to help pay the mortgage in the event of death.
Here's a comparison between our AA Life Insurance products
| Product benefits |
Funeral Cover |
Term Life Insurance |
Guaranteed Life Insurance |
Accidental Death Insurance |
Accident Recovery Insurance |
| Age eligibility |
16-74 years |
16-59 years |
50-79 years |
16-74 years |
16-70 years |
| Cover Levels |
$5,000 - $15,000 |
$50,000 - $400,000 |
Dependant on Premium |
$75,000 - $350,000 |
Standard or Superior |
| Guaranteed Acceptance |
√ |
x |
√ |
√ |
√ |
| Immediate cover on acceptance |
For accidental death only |
√ |
For accidental death only |
√ |
√ |
| Payout for death as a result of an accident |
√ |
√ |
√ |
√ |
√ |
| Payout for death by natural causes |
After two years |
√ |
After two years |
x |
x |
| Early payout for Terminal Illness |
x |
√ |
After two years |
x |
x |
| Payout for disability or injury |
x |
x |
x |
x |
√ |
| Cash for hospitalisation |
x |
x |
x |
x |
√ |
| Covered while being overseas |
√ |
√ |
√ |
√ |
√ |
| Fixed premiums |
√ |
x |
√ |
√ |
√ |
| Fixed cover levels |
√ |
x |
√ |
√ |
√ |
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