Life

Life

Taking care of those left behind

While nobody likes to think about dying, many people don't make it to retirement age. In New Zealand, one in six men and one in nine women over 30 will die between the ages of 30 and 65*.

The purpose of life cover is to look after the people who would miss your financial support if you were to die prematurely, particularly your partner/spouse and children.

To balance the risk of premature death, ASB offers four types of life cover:

Term Life
This type of cover could provide a lump sum if you die from illness or accident. The lump sum can be used for any purpose, such as clearing debt, replacing income or investing for the future.

MyLife
MyLife is life cover that you get online. It’s quick and easy to arrange, with no medical tests required. You could have cover in as little as 20 minutes.

Accidental Death 
Accidental Death could pay a lump sum if you die as the result of an accident. Because it only covers accidental death, it costs less than regular life cover.

Family Protection
Family Protection could provide your family with a monthly income if you die, instead of one lump sum. The money helps your family to maintain their usual lifestyle.


* Statistics New Zealand (2004), New Zealand Life Tables 2000 - 2002.

Terms and conditions: The availability of insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, maximums, exclusions or premium loadings may apply. For full details, refer to the Policy Document which is available on request from ASB. This insurance is underwritten by Sovereign Assurance Company Limited ("Sovereign").

Sovereign is part of the Commonwealth Bank of Australia Group and is a related company of ASB Bank Limited and its subsidiaries (the "Banking Group"). Neither the Banking Group, the Commonwealth Bank of Australia, nor any other company in the Commonwealth Bank of Australia Group, nor any other person, guarantees Sovereign or its subsidiaries, or any of the products issued by Sovereign or its subsidiaries.