Mortgage Protection insurance
Trauma Insurance Available
| Eligible entry ages | 20 - 55* | ||
| Maximum sum insured | $1,000,000* (20-49). $500,000* (50-55) | ||
| Cover ends | Age 100 | ||
| Benefit type | Lump Sum payment | ||
| Free look period | 14 days to ensure you are happy with your policy | ||
| Policy Documents |
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What benefits are included in my cover for no additional premium?
Special Events Increase Benefit
This is a valuable benefit that recognises your increased needs and financial responsibilities as your life evolves. If you marry, have a child (by birth or adoption), divorce, increase your mortgage, or move house and as a result take out a mortgage, this benefit allows the sum insured under Life Cover to be increased regardless of your state of health, after one of the following events:
? Marriage or civil union
? Divorce
? Birth or adoption of a child
? Dependent child starting secondary school
? Attainment of ages 25, 30, 35, 40 and 45
? Taking out or increasing a mortgage
An additional premium will be applied for any increased sum insured.
Bereavement benefit
On application, we will pay up to $15,000 on death as an immediate benefit, to cover funeral and other costs. This is deducted from the eventual payout.
Terminal illness benefit
If you are diagnosed as terminally ill and are likely to die within 12 months, you can apply for early payment of the sum insured.
Inflation indexation
You can ‘inflation proof’ your cover by increasing it each year in line with inflation. Each year Fidelity Life will advise the level of indexation that you can choose to accept or decline. There is no limit on the number of times you can decline this option.
Financial planning benefit
If a benefit greater than $100,000 is paid, a further benefit of up to $2,500 may also be payable. We will reimburse the reasonable costs of a fully documented financial plan prepared by a qualified financial adviser as approved by Fidelity Life.
Premium holiday option
You may suspend cover and premiums on certain events such as redundancy, bankruptcy, tertiary studies, or overseas travel. Cover can be reinstated without evidence of health within one year of the suspension. The maximum sum assured under this option is $500,000. The Premium Holiday Option may be exercised once in the lifetime of the policy.
Child’s Funeral Benefit
If your child from age 2 to 20 (inclusive) dies, we will pay up to $3,500 that can be used towards the cost of their funeral. One payment is made for a child regardless of the number of covers you have with us and the amount paid depends on their age at the time the event happens.
Some exclusions and limitations apply.
Additional future insurability option
With business growth comes increased risk. This option allows an owner to increase life cover each year without requiring further medical evidence.
You can increase your life cover without further medical evidence
on the occurrence of certain events. These events include reaching
certain ages, getting married, civil union, having children, taking out a
mortgage, or death of a spouse, partner or child or stopping work to take
full time physical care of a dependent relative, or your shareholding in a
business increasing.
Refer to policy document for details.
Optional benefits
Additional future insurability option
Children’s life cover
Provides life cover for children aged 10 to 15 years to a maximum of $200,000. (The policy must have at least one adult on it).
