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Understanding personal insurance

Protect yourself and your loved ones against the unexpected

Personal insurance is a range of products designed to protect you and your loved ones from the unexpected. If the unexpected happens, personal insurance can help you or your loved ones financially.

Two of your greatest assets are your health and your ability to earn an income. Personal insurance can help financially safeguard these two assets against disability, illness or injury, and provide support for those you leave behind.

Personal insurance at AMP includes life insurance, income protection, trauma cover, disability cover and health insurance.

Why personal insurance?

If the worst should happen - if you died, became terminally ill, or suffered illness, injury or disability - personal insurance is vital to financially support what matters most: you and your loved ones. Depending on the cover you choose, personal insurance can provide support through a difficult time by:

  • paying out a lump sum to be used as you wish
  • paying out a monthly benefit 
  • providing you access to private healthcare services
  • helping you get back to work
  • reimbursement of medical expenses.

Explore AMP’s personal insurance products.

How much cover do I need?

To help choose your level of cover, there are a few elements to consider:

  • If you have dependents and you died, what would happen to your family assets?
  • If you suffered serious illness or injury that meant you were unable to work, would your bills be covered by other income?
  • If you couldn’t work, would you have enough money to cover your mortgage and maintain a reasonable living standard?
  • If you were diagnosed with a serious condition such as cancer and needed expensive treatment not covered by health insurance, how would you pay for it?

All of these considerations will inform how much cover you need.

The cover you need also depends on your personal circumstances, such as:

  • your earnings
  • the level of debts you have
  • how many dependents you have.

How an adviser can help

To make sure you have insurance that suits you it’s good to talk to an adviser. They can share their expertise and experience and help you get the right cover at the right price. Advisers can also give ongoing help on how to keep your cover relevant over time.

Just as your life is unique, your protection can be purpose built to address the areas of risk that most affect you.

An adviser adds value by:

  • identifying your priorities
  • helping you balance your risks
  • offering options
  • sharing their expertise and experience.

They also help by keeping in touch – if the time comes to make a claim, you can call on your adviser for help. Their knowledge and experience can make all the difference at a stressful time.

Find your nearest adviser.

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Understand how the claims process works

See our range of personal insurance options

Find out more

Request a personal insurance quote

How much life insurance do you need

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Important information

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The content on this website is for information only. The information is of a general nature and does not constitute financial advice or other professional advice. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.

A disclosure statement is available from your adviser, on request and free of charge.