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Life Cover

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.



 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.

 Terminal illness

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.

 Great discounts

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.

 Yearly review

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.

 Adjustable cover

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

What's covered

What's covered

  • 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.

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.


Making a claim

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.

Do it online

Have a question or need life insurance guidance?

Call us at 0800 808 234

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