Asteron Life Cover

Protect your family's future with the life insurance from Asteron

Asteron life insurance provides a death benefit in a lump sum paid to the surviving family members of the insured. This is to help the surviving members cope or deal with the changes brought about by sudden death or terminal illness, especially if the insured is the main wage earner in the family. It helps the family of the insured make a smooth transition without incurring financial stress with the emotional stress.

This review will explore what is covered under the Asteron life insurance policy. If your ready to receive a quote for cover, simply enter your details in the form below.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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What does the Asteron Life Cover policy cover?

Built-in BenefitsWhat's Included?
Life Cover Benefit
  • Yes
Terminal Illness Benefit
  • Yes
Funeral Advancement Benefit
  • Yes
Financial Planning Benefit
  • Yes
Waiver of Premium Due to Serious Disablement
  • Yes
Loyalty Funeral Benefit
  • Yes
Premium and Cover Suspension Benefit
  • Yes
Premium Freeze Option
  • Yes
Continuation of Cover
  • Yes
Optional Benefits
Business Security Option
  • Yes
Child Cover
  • Yes
Waiver of Premium Option
  • Yes
Healthy Life Option
  • Yes
Healthy Plus Option
  • Yes

Key features of Asteron Life Insurance

Life insurance is not just beneficial during a person’s death. Life insurance is about life and letting you enjoy life without being afraid of the unexpected things.

Therefore, Asteron Life Insurance (Death Benefits) does not just focus on what you and your family can get at the event of death, but also while you are still alive.

  • Child Cover: Asteron Life Insurance not only benefits you, but also protect your child as well. Through this insurance policy, each child you have can receive $10,000 worth of cover just by paying a $1 extra through their Child Cover Premium-free.
  • Recovery Package: Furthermore, it has a Recovery Package that is worth $10,000 in its first 2 years and increases to a maximum of $20,000 from five years onwards. And in case you are worried how much all of these is worth, there is no maximum amount life cover. So it still depends n your needs and goals how much life cover you want.
  • Lump Sum: You might still be wondering what benefits there is in the event of death since this is all about Asteron Life Insurance (Death Benefits). For starters, the surviving family members of the insured will receive a lump sum when the insured dies or the insured himself will receive the lump sum if diagnosed with a terminal illness.
  • Advance Funeral Benefits: Another benefit that the surviving family members will receive through the Asteron Life Insurance (Death Benefits) is the Advance Funeral Benefit which could be up to a maximum of $20,000. This helps with any costs associated with arranging a funeral for the family.
  • TPD Cover: Another feature the life insurance has is the Total Permanent Disability or TPD. This cover pays you out a lump sum which helps ease the financial strain if you become totally or permanently disabled. This cover has 3 types of benefits you can choose from. The Single TPD Pay Out and the Single TPD with no Buy Back Pay Out which pay the full sum insured of the TPD benefit, but reduces the amount of the life cover by the amount of the TPD benefit payment.

The third type of benefit is the Double TPD Payout which pays you the full amount insured of the TPD benefit before you are 65 and without decreasing your life cover.

What premium can I choose?

When choosing Asteron Life Insurance (Death Benefits), you should bear in mind that there are two ways that you can pay the premium – stepped and level.

A stepped premium lets you pay a lower initial payment but one that increases every year as you grow older. On the other hand, a level premium lets you pay a much higher initial payment but maintains the same level of premium unless you requested additional cover.

The entry age for a stepped premium is 17 to 74 years old; while the premium level is from 24 to 59.

Other benefits of choosing Asteron?

With so many life insurance providers in Australia, you might ask what makes Asteron different than other insurance providers. There are a number of reasons which are summarised below:

  • Strong claims record: Over a period of time, Asteron has paid $228 million in total claims.
  • Long history: Asteron has been in the insurance industry for 175 years.
  • Award winning company: Asteron has received various awards over the years from different insurance award giving bodies including the AFA Life Company of the Year.
  • Great Rewards: Asteron gives special loyalty rewards for every year you stay longer with them.

Choosing life insurance cover is not as complicated as it may look like when you know your goals and needs. Asteron Life Insurance (Death Benefits) has all the necessary you need in life and in death. However, if you are still unsure, you can talk to a financial adviser to help you strategise which life cover is the best for you.

Asteron Life Cover exclusions to be aware of

Your Asteron Life Cover insurance claim will not be paid if death is caused by an intentional self-inflicted act within 13 months of:

  • The cover commencement date;
  • An increase to the sum insured; or
  • The most recent reinstatement of the cover

Who is eligible for Asteron Life Cover?

Entry age limits for Asteron Life Cover vary depending on the premium structure you select:

  • Stepped premiums: You must be aged between 18 and 75 years when you apply for cover
  • Level premiums: You must be aged between 18 and 60 years when you apply for cover
  • Cover expires on the policy anniversary following your 100th birthday

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William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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