If you become totally and permanently disabled, Disability Insurance will provide you with a lump sum payment to help make life a little bit easier. It can only be purchased alongside Life Insurance.
If you have Disability Insurance with us we’ll pay a tax free lump sum to the owner of the policy, if you become permanently unable to work or meet our Total and Permanent Disability Definitions due to an accident or illness.
Getting a policy
Disability Insurance can be added as an early payment option to your Life Insurance. From $100,000 to $1 million, you decide on the amount that’s right for you.
You have to be aged between 18 to 59 years and living in NZ, Australia, USA, Canada, UK, Ireland, Hong Kong or Singapore.
If you want to add Disability Insurance cover to your Life Cover you’ll need to
Once your policy is in place
If you get married, divorced, take out a mortgage or become a parent, you may be able to increase your cover by up to 50% with no medical questions asked. We understand that life changes!
You can decrease or remove your Disability Insurance from your Life Insurance policy at any time without penalty.
Your payments will increase each year as you get older.
When you turn 65 your policy will expire.
When you need to claim on your policy
You will get a cash lump-sum payment of up to $1 million (depending on the cover amount you’ve selected). Once paid, your level of Life Insurance will reduce by that amount.
Your claim will be paid in New Zealand Dollars anywhere in the world, to the person who owns the policy.
Your policy will be reinsured by Hannover Life Re, one of the largest reinsurers of life insurance in the world.
We can show you what life insurance products people planning for a similar future have asked about.
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