Essential Life Accidental Death Cover
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At a glance
Essential Life Accidental Death Cover (Essential Life) is life insurance cover which pays a lump sum benefit to help your family or other loved ones cope with the financial impact of your death as a result of an accident.
With this valuable protection, you are covered worldwide, 7 days a week, 24 hours a day and your benefit payment can be used however needed – to pay off the mortgage, to provide medical or other assistance during a difficult time, or to provide ongoing financial support for your family. Plus with Essential Life, you have the option to apply for cover for Accidental Serious Injury, for even greater protection and peace of mind.
What cover is available?
With Essential Life you can choose an Accidental Death benefit from $100,000 up to $1,000,000 (depending on your age at the Policy Commencement Date). Accidental Death cover is one of the simplest and quickest ways of providing insurance protection for your family as all Australian residents aged 18-64 years are guaranteed acceptance for this valuable cover, regardless of health or medical circumstances. Cover can continue through to age 70 (as long as premiums remain paid).
$10,000 of your Accidental Death benefit benefit can also be advanced as a funeral benefit to assist with the immediate costs of your funeral or other final expenses.
You also have the option to apply for up to $250,000 cover for Accidental Serious Injury which provides financial protection in the event you suffer a serious accidental injury such as a Major Head Trauma, Severe Burns or Paraplegia. (Your optional cover cannot exceed the amount of Accidental Death cover).
10 reasons why you should consider Essential Life Accidental Death Cover:
- Simple, cost effective cover – as little as $1 a day for $220,000 cover
- From $100,000 up to $1,000,000 cover to help protect your family’s financial future in the event of your Accidental Death.
- Advance Funeral Benefit payment of $10,000 paid from your Accidental Death benefit to assist with the immediate costs of a funeral.
- Option to apply for up to $250,000 Accidental Serious Injury cover to help safeguard your family’s lifestyle in the event that an Accident leaves you seriously injured.
- Easy to obtain cover is available online in just a few simple steps.
- Guaranteed acceptance for all Australian Residents aged 18-64 years, with absolutely no medical or blood tests.
- Worldwide cover, 24 hours a day, 7 days a week so you are always protected.
- Automatic cost of living increases – up to 5% p.a. automatic benefit increase to help your cover retain its future value (age limits apply).
- Premiums do not increase with age making it easy to budget your cover.
- Flexible payment options, pay either monthly or annually at by credit card or direct debit with no additional charges or policy fees.
Summary of Cover
|Product feature||Life Cover||Accidental Serious Injury|
|Minimum age at entry||18 yrs||18 yrs|
|Maximum age at entry||64 yrs||64 yrs|
|Benefit expiry date||Policy Anniversary following your 69th birthday.||Policy Anniversary following your 69th birthday.|
|Minimum sum insured||$100,000||$50,000|
|Maximum sum insured at Policy Commencement|
|Age 60-64||$ 500,000||$250,000|
(automatic, unless you opt to decline the increase)
|5% p.a. each Policy Anniversary up to age 69||5% p.a. each Policy Anniversary up to age 69|
|Built in benefits||Advance payment of $10,000 to assist with funeral costs|