There are many different types of insurance available. Policies can be created to offer a combination of benefits to best suit your specific needs and budget. That’s why it’s important to make sure you understand what each one does, to make sure it’s right for you.
Life insurance is probably one of the first types of personal insurance most of us think about. Although there may be variations, the main reason for having it is to provide your loved ones with an appropriate level of financial cover when you pass away. It gives you the peace of mind that those close to you can be cared for after you’ve passed away.
If you become unable to work through sickness or injury, income protection insurance can provide you with a steady stream of monthly income. You can also choose to add on cover for redundancy.
Critical conditions insurance can provide much-needed financial help for you and your family, at a time when you may need it most. If you suffer a serious medical condition in accordance with your policy, you can receive a lump sum to help cover things like:
Total Permanent Disablement cover provides a lump sum payment in the event that you become totally and permanently disabled and are unable to engage in either your 'own' or 'any' occupation, depending which type of cover you have. Having cover would help relieve some of the financial stress and worry for you and your family, in having to cope with a major impact to your life and lifestyle. The money can be helpful in covering the many additional expenses that can be incurred including:
As your life changes, your insurance needs can too.
Review your insurance cover regularly, to make sure that you have the right level of protection. One of our ASB Insurance Managers can help you in selecting the right level of cover that you need.
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The availability of insurance cover is subject to your application being approved. All applications are subject to individual consideration. Special conditions, exclusions or premiums loadings may apply. An excess may apply for health insurance policies. For full details refer to the policy document which is available on request from any ASB Branch. This insurance is underwritten by AIA New Zealand Limited ("AIA").