Take care of what's important
Whether you have any outstanding debts, or simply want to leave something extra for a loved one, Life Cover can be there to help.
Life Cover from AA Life Insurance is a simple insurance policy that:
- Pays out a tax-free lump sum up to $1 million, if you die or are diagnosed with a terminal illness
- Allows up to $15,000 of your cover to be paid early to help with funeral costs
Anyone aged 16 to 59 can apply online, at an AA Centre or over the phone with our New Zealand based team. Just bear in mind that you'll need to be a New Zealand citizen, resident or hold a valid work visa for the next 12 months.
A quick summary
- Anyone aged 16-59 can apply
- Cover up to $1 million
- No medical checks on application
- Immediate cover on acceptance
- Benefits include death or terminal illness, and funeral support
- Tax-free, lump-sum payout
Be confident knowing what your policy covers
We want to make sure you’re confident in knowing what you are or aren’t covered for. That means reading your policy wording to understand the benefits as well as your responsibilities, and the cover limits and exclusions of your policy.
Life Cover Benefits
Death or Terminal Illness Benefit
We will pay out your cover amount benefit if you die, or pay out early if you are diagnosed with a terminal illness.
Funeral Support Benefit
We will pay a $15,000 funeral support benefit when we receive written notification of your death to help support arrangements being made in a timely way. This amount then gets deducted from the full death benefit payment, received afterwards.
Here's a guide to help you understand the Life Cover policy benefits
Things you should know
- There's a 30 day no-obligation period that gives you further peace of mind in knowing that if you change your mind in this time, we'll refund 100% of the premiums you've paid.
- Premiums can be paid fortnightly, monthly (direct debit and credit card only), quarterly, half-yearly or annually by direct debit or credit card.
- You should also consider that Life Cover isn't an investment policy, which means that if you cancel the policy, you won't receive any benefit or premium refund.
- Death by suicide is not covered for the first 13 months of cover.
- Some additional exclusions may apply depending on your situation - these exclusions are made clear to you during the application process.
- You can nominate a beneficiary which allows your cover payout to be made to someone you choose, bypassing your estate and making the money available more quickly.
Things you could consider when thinking about your cover level might include any outstanding debts like mortgage or credit cards, simple provision (maintaining lifestyle and covering kids' education), or doing something extra, like leaving a legacy.
Use the Cover Calculator to help you estimate your cover amount.