Here’s what you get:
- A lump sum payment upon death or the diagnosis of a terminal illness (where you have less than 12 months to live) to help your loved ones financially.
- Financial support for your family following your death or terminal illness diagnosis.
- Assistance with funeral and other related costs.
Why you need life insurance
If the worst should happen - if you died or became terminally ill - life insurance is vital to financially protect what matters most: your loved ones.
Life insurance pays out a lump sum to your loved ones after your death or if you become terminally ill and have less than than 12 months to live. They can use this lump sum as they choose.
The benefits of life insurance
As an existing customer you’ve got the flexibility to choose the amount of cover that best suits your needs. There are a few key benefits.
- A lump sum payment in the event of your death. This payment can be used to pay off large debts, or for your family to use however they wish.
- Terminal illness benefits, which allows you to receive an advance payment if you have 12 months or less to live.
- Funeral benefits, which provides an advance payment of up to $15,000 to help with funeral costs.
Consider life insurance if...Show more
- You have a mortgage and/or people who financially depend on you – it can help to ease their financial burden or maintain their current living standards.
- You want to have insurance in the long term, post-retirement, with a view to there potentially being some money available on your death to cover your loved ones’ ongoing expenses or to provide a legacy for your children.
How life insurance helped a Kiwi family*Show more
Max was a 50-year-old businessman, married with four adult sons. He had an AMP Adviser who looked after everyone in the family’s insurance.
He frequently used his AMP Adviser to arrange insurance for his various work trips as well as arrange his life insurance. One day after returning from another work trip, Max had to make a very different call to his Adviser.
He’d been diagnosed with a brain tumour. His Adviser gathered the life insurance paperwork and immediately went to his home.
A year later Max passed away, but before he died he had the comfort of knowing he’d helped provide financial security for his wife and family. The type of tumour he had meant that he qualified under his policy for a trauma cover payment of $250,000, which gave them greater freedom during the year. His life insurance policy will help his wife to maintain the lifestyle they worked so hard to achieve.
How AMP helped Kiwi families in 2017Show more
The reality is that many of our customers have experienced unfortunate times, causing them to claim on their life insurance. AMP was there for those going through difficult times:
- In 2017, the average AMP life insurance payment was $260,000.
- AMP paid out over $83m in life cover claims to financially support families in need that year.
Speaking to a financial Adviser will help you to decide the right level of cover for you. They’ll be able to tailor insurance cover to meet your needs, and advise on the best options.