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Life insurance

Financial peace of mind to protect what matters most

Life insurance is designed to financially protect your loved ones, if the worst happens. If you died, or were diagnosed with a terminal illness and weren’t expected to live for more than 12 months, life insurance could pay out a lump sum which could be used as your family wished.

Whether that’s paying off large debts like your mortgage or covering your medical expenses, it can give your family financial support during a difficult time.

This might suit you if…

  • you’d like to provide some financial security for your family in the event of your death or terminal illness.
  • you need personalised cover to meet your needs.
  • you want to choose the right level of protection for you and your family.

Here’s what you get:

  • A lump sum payment upon death or the diagnosis of a terminal illness (where you’re expected to live less than 12 months) 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.

Talk to your adviser
or call us on

0800 267 263

Monday to Friday
8:00am - 6:00pm

How much life insurance do you need?

Your life insurance cover depends on lots of factors. An adviser is the best person to talk you through the level of cover you may need. Our life insurance calculator can give you an indication of how much cover you may need.

Calculate

How much your life insurance costs depends on:

  • your age
  • gender
  • smoking status
  • your and your family’s health and medical history
  • level of cover
  • the options you have selected.

Talk to an adviser or call us on 0800 267 263 for your individual cover 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 are not expected to live for more than 12 months. They can use this lump sum as they choose.

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The benefits of life insurance

With AMP life insurance, 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.
  • 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.

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.

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 2014, the average AMP life insurance payment was $259,048.
  • In total, AMP paid out $61,394,531 for life insurance and terminal illness to financially support families in need that year.1
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Get started
Apply for life insurance cover

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.

Find an adviser

We make the claims process simple

We know that making a personal insurance claim often comes at a stressful and traumatic time. That’s why we have a team of experienced, caring case managers who will support you and keep you updated throughout the process.

Our aim is to make the claims process as easy and clear as possible.

How to make a claim

If something happens and you need to make a claim, get in touch with us as soon as possible. We’re here to help and can talk you through the different options available to you.

You can get in touch by phone, online, email or post and we'll help you with the information required.

Online

Notify AMP of your Death claim, all other Personal Insurance claims via this online notification.

Learn more about the personal insurance claims process.

Life, trauma, income protection and disability claims
(Includes business claims that relate to personal injury/illness)

0800 267 425

Monday to Friday
8:00am - 6:00pm

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Protect your income in case of illness or injury

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See our range of personal insurance options

How much life insurance do you need

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Important information

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*The story is true. Names have been changed to protect individual privacy.

1 These figures are for AMP’s on-sale life products only.  Figures for products which are no longer on sale are excluded.

This information provides a general summary of the key features of the products described and is subject to change without notice. Terms, conditions, criteria, definitions and exclusions apply as set out in the relevant policy document and schedule. In addition, waiting periods, qualifying periods, no claims periods, and/or survival periods may apply. Full details are set out in the policy document and schedule, which is available on request. Applications for cover are subject to approval by AMP Underwriting. 

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.