Life Cover

Take care of what's important

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Life Cover

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 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.

Get a quote      Retrieve a quote

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.

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.
  • 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.

How much do I need? 

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 our Cover Calculator to find the cover amount you might need.

Calculate cover amount     Get a quote

 

AA Life Insurance Policies

Funeral Cover can be used to pay towards for your funeral expenses and other associated costs. We'll provide up to $30,000 cover when your family needs it most.

Accidental Death Insurance covers you for death as a direct result of an accident, though not for death as a result of health issues.

Cancer Care Insurance gives you a lump sum of money to help you overcome the financial stress that accompanies the diagnosis of certain types of cancer.

Paying premiums

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

FAQs

The application takes between 15 - 30 minutes to complete online.

You can add a beneficiary as part of the application process, or if you'd like to add one later, you can do so by completing the Beneficiary Form on our website, or getting in touch with us. Their details are loaded against your policy so that any payouts are made to them directly. We recommend you put some provisions in place on how you'd like payments to be administered i.e. organising a will, trustee or guardian.

You may be able to, but the terms of your policy may be changed. For instance, a premium loading may apply (this means that your premiums may be more expensive). Any exclusions or premium loadings are made clear to you as part of the application process before making a decision to purchase.

If you have been smoke-free for 12 months, you may be eligible for a premium decrease. Please contact us to discuss your individual situation.

We'll ask you to answer the questions we need to know now, so that we can be transparent on price and you can tick life insurance off your list more easily. We won't need you to follow up with further medical information or complete any medical checks - once it's done, it's done.

Our insurance partner

AA Life is a partnership between The New Zealand Automobile Association Incorporated (AA) and Suncorp Group New Zealand Limited. Asteron Life Limited is Suncorp New Zealand's specialist life insurer and underwrites AA Life's products.

Financial strength rating

Asteron Life Limited has been given an A+ financial strength rating by Standard & Poor’s.

Financial advice

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life that really matter. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice.

If you'd like to receive financial advice, you can get professional advice from an adviser who’s registered under the Financial Advisers Act 2008.