You can choose the “policy owner” (this is the person that the insured amount is paid to if a claim is made). The policy owner could be you, or if you’re setting up cover with a partner you can choose to have a “joint” policy, which means that you both own the insurance.

If you have a policy owner, they straight away get the money if you die. In case, you don’t have an owner, the money gets distributed as per your Will or Trust. We highly recommend you have a Will or Trust in case you do not have a policy owner.

There are certain events where you can increase your Life Insurance without the need for more medical evidence. These include when you get married or enter a civil union, have kids, take out a mortgage, or reach a certain age. Have a look at your policy for the full list of these events.

Trauma cover pays lumpsum if you’re diagnosed with a illness, injury or have undergone a medical procedure. These medical conditions are listed on the policy. Since this is lumpsum, you can spend the money wherever you like e.g. hospital bills, pay your debts, pay your mortgage, renovation for your house etc.

If you have selected a Stepped policy, then on your policy’s yearly anniversary your premiums will increase with age. In order to stop the yearly increase in your policy premiums, we recommend you have “LEVEL” term policy which keeps the insured amount and the premiums constant. You can have level insurance depending on your needs, this can be level to age 65, 80 or even 100.

It is likely that your circumstances will change a few years after you get the policy. To tackle this problem, our dedicated advisers will contact you on annual basis on the date of your policy anniversary and meet you again to review the options.

Yes, Health assessment is the most important part of your insurance application. Basically, you need to answer all the health questions to the best of your knowledge and the insurer will decide what happens to your application based on your health disclosures.

Yes, the insurers will bear the cost of your health assessment.

We recommend applying for pre-approval first. This solves the problem of you paying for your claim first and generally health insurers do maintain agreements with doctors and hospitals so claims can be directly done by them as well.

An “Exclusion” basically means something that is not covered under your policy. Also, usually pre-existing conditions are not covered by insurers, but this is considered on case-by-case basis.

Usually, income protection insurance comes with a wait period. Your claim will be paid depending on your wait period. Ideally, we recommend you have less waiting period when you have less savings. This means you can get your claim early. Income/ Mortgage protection can pay claim depending upon the benefit period written in your policy. This benefit period can be for 2 years, 5 years, to age 65 or age 70.

If your salary increases, you can apply for a bigger sum insured for Income protection. This increase will be subject to full medical underwriting at the time of application with your payslips.

If your mortgage repayments increase, you can increase your covers. This increase will be subject to full medical underwriting.