|
Built in Benefits
These benefits are automatically included in your SmartLife policy. So no matter what other protection options you choose, your policy will have these benefits as standard.
 Death Benefit
In the event of your death, the policy owner(s) will receive a lump sum of funds to assist with planning for the future, carrying out plans made before your death, or for whatever use they deem suitable.
Terminal Illness Benefit
If you’re diagnosed with a terminal illness and are unlikely to live more than 12 months, we will advance your death benefit so that you can get the best medical care and plan a secure future for your family.
Funeral Advancement Benefit
We offer an immediate advance of your death benefit of $10,000 from your sum insured to assist with funeral expenses.
Inflation Adjustment Benefit
We offer to increase the sum insured for SmartLife cover (including Accelerated Trauma or Total and Permanant Disability if selected) on each anniversary of the commencement date. We will increase the sum insured by the greater of the indexation factor and 2%.
$1,500 Financial Planning Benefit
Deciding on the best way to use your lump sum benefit is not easy. To help you get the best financial advice, Asteron will reimburse you up to $1,500 for financial planning advice from an accredited adviser.
Grief Support Benefit
$600 is available to reimburse you for the cost of independent grief counselling so you and your loved ones can get expert assistance. Grief counselling can help you cope with the emotional stress related to death, terminal illness, a major illness or injury or permanent disability.
Special Events Increase Benefit
If you are under 60, you can increase your SmartLife cover if you decide to permanently live with someone in the nature of marrige or civil union, have a child, adopt a child, take out or increase your mortgage by $25,000 your salary increases by $5,000 per annum or you become a carer for the first time. Also, every 5 years you have the option of increasing your cover as well - all without needing to provide any evidence of health. Maximum increase limits apply.
Guarantee of Upgrade
If we make any future improvements to the SmartLife policy without any increase in premium rates, we will provide these improvements to your policy owner without charging any additional premium.
Guarantee of Renewal
Provided premiums are paid we will continue to renew the policy each year until the policy ends, without including any more restrictive terms regardless of the number of claims made or any changes to your health, occupation or pastimes.
Optional Benefits
The following benefits provide added protection against a number of adverse events and may be added to your SmartLife policy for an additional premium.
Early Stage Cancer Option
Asteron's Early Stage Cancer Option is designed to provide additional cover for lower levels of cancers. While these cancers are still serious, they tend to be treatable and non-life threatening in the early stages. By selecting this optional benefit you are providing yourself with a more comprehensive level of trauma cover.
The following types of Early Stage Cancer are covered:
- Breast
- Cervix (Uteri and Uterus)
- Chronic lymphocytic leukemia
- Fallopian Tube
- Melanoma
- Ovary
- Prostate
- Vagina
- Vulva
Terminal Illness Booster Option
If you become terminally ill you're likely to have a wide range of unexpected medical expenses. To help protect you financially, the Terminal Illness Booster Option provides up to $100,000 of additional funds if you're diagnosed as terminally ill.
You can also increase your Terminal Illness Booster sum insured if you access the Special Events Increase Benefit.
Stand Alone Trauma Option
For an additional cost, you can add the Stand Alone Trauma Option to your policy. This benefit covers you in the event of a major health problem such as cancer or heart attack. The Stand Alone Trauma Option an additional amount on top of your life insurance.
Accelerated Trauma Option
For an additional cost, you can add the Accelerated Trauma Option to your policy. This benefit covers you in the event of a major health problem such as cancer or heart attack. The Accelerated Trauma Option is an advance payment of your life cover following a claim for a specified medical problem or procedure, with your life cover reducing by the amount of the Accelerated Trauma benefit paid.
Total and Permanent Disablement Option
For an additional cost, you can protect you and your family’s future in the event that you become permanently disabled. By adding TPD to your SmartLife policy, you will receive a lump sum payment should you suffer a sickness or injury that leaves you totally and permanently disabled.
Trauma Reinstatement Option
Asteron's Trauma Reinstatement Option allows you to take out new trauma cover following a trauma claim (excluding the condition or related condition you have claimed for). The purpose of this cover is to provide protection for other illnesses following a claim for a specific illness. For example, making a claim for cancer does not change your risk exposure to heart attacks.
It's comforting to know that just because you have had a trauma claim you're not automatically going to be excluded from any other trauma event that occurs.
The Trauma Reinstatement Option is a cost effective solution for those wanting to ensure they have future cover for other trauma events following a trauma claim.
We Pay Your Premium Option
For an additional cost, you can ensure your premiums will be paid if you are unable to work in any occupation for a continuous period of 3 months as a result of injury or sickness.
Kids SmartLiving Option
Children also suffer from serious medical conditions or procedures and the financial implications can be just as serious. You may need to take time off work, alter your house or purchase additional medical care.
Medical conditions and procedures covered are:
- Blindness
- Brain Damage
- Cancer*
- Cardiomyopathy
- Chronic kidney (renal) failure*
- Deafness
- Encephalitis
- Intensive care
- Intracranial benign tumour
- Loss of limb or sight#
- Loss of speech
- Major head trauma
- Major organ transplant*
- Meningitis
- Paralysis
- Recoverable stroke#
- Serious accidental injury#
- Severe burns
- Stroke (resulting in functional loss)*
- Terminal illness
*Cover for conditions marked * does not begin until 3 months after the policy commencement date.
# Limits may apply to amount paid under these conditions.
Business Security Option
If you have chosen to include the Business Security Option on your SmartLife policy you can apply to increase the sum insured for SmartLife cover and Total and Permanent Disablement (if included on policy) without supplying further medical evidence.
To make an increase under Business Security Option you will need to provide us with appropriate financial evidence to support your application for increase.
|
