Family Protection

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

This type of insurance can be a good choice if you want to simplify financial management for your family, because it replaces (more or less, depending on the level of cover you choose) the income that you would usually generate.

Good reasons to get Family Protection

• Choose the benefit term: You can choose how long you wish the monthly income to be paid for after death.
• Special events increase: Lets you increase cover without the need for medical evidence at certain times, such as when you move house, increase your home loan, have a child (natural or adopted), get married, get divorced, or become responsible for the care of a close relative.
• Bereavement benefit: An immediate lump sum payment of $10,000 will be available in the event of your death. This can be used for grief counselling, estate advice, flights and accommodation, or whatever your executors see as appropriate.
• Part of your plan: This cover may be written in conjunction with the full range of ASB Lifestyle Security Plan benefits.
• Underwritten by Sovereign: You have the security of knowing that your policy is underwritten by Sovereign, New Zealands leading life insurance provider.

A Family Protection benefit will not be payable where death occurs as a result of the life assured committing or attempting to commit suicide, whether sane or insane, within 13 months of the risk commencement date. This exclusion applies to any subsequent benefit increase made by the life assured.