What happens with loan insurance when ASB approves a loan to more than one person?
If ASB approves a loan to more than one person and two or more of those people wish to take insurance for that loan, a separate policy will be issued to each person. Each person can be insured for a different amount.

Do I need to have a medical examination?
In most cases, if your new loan or total combined cover amount is no more than $300,000, there is no need for you to have a medical examination. If you are unable to confirm a health and employment statement, a medical examination may be required. Sovereign, the underwriters for ASB insurance products, will notify you and will pay for any standard medical examination required.

How are my premiums calculated?
Premium levels are calculated according to cover amount, age, gender, whether you are a smoker or non-smoker, whether there are joint applicants and the type of ASB loan you have, if you are seeking loan protection.

Will my premiums change if I give up smoking or change from single to joint cover?
It’s up to Sovereign, the underwriter, and ASB to decide whether an increase or decrease in premium rates is warranted.

What if I change my mind?
With our 'free look' period, any premiums paid will be refunded in full if you change your mind within 15 days from your policy being received, provided no claim has been made.