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You want to consider AAMI Life Insurance if you are: Concerned about some risks such as debts should you pass away and mortgage repayments; Worried about poor health; and Aiming to assist your whole family financially like the children's living costs and education.
With Life Insurance, you may ease your worries when you have to deal with the financial strain at the moment you no longer alive, and of course, your loved ones will be taken care of. They can receive a lump sum with the amount of $1,000,000 if you are diagnosed with a terminal illness or die.
What is the AAMI life insurance cover?
You will be the one and only insured person, as the sole owner of the whole policies. Because AAMI Life Insurance cover is a single life policy. But depending on the level of cover, you can apply for as much as $1,000,000 or as little as $100,000 or in the increments of $100,000. Since May 2010, the maximum amount payable that under yearly renewable term life of insurance policies, issued by us to the same insured person is up to $1,000,000. And the most it will pay, under your AAMI Life Insurance coverage, is the sum that insured.
Once when you apply, and your application is ultimately accepted, you’ll be covered for some benefits outlined 365 days a year, 24 hours a day. Unless all your cover stops earlier, the life insurance also guarantees to renew all your policy every year until you reach 99th birthday.
The cover starts as long as you feel satisfied with the eligibility requirements that full cover under your AAMI Life Insurance policy when they have received correct payment details and accepted all of your application . The life insurance will send you a policy document and schedule confirming our acceptance if they take your application to cover under AAMI Life Insurance. These documents set out with full conditions and terms of your insurance. So please store them in a safe place and read all these documents carefully.
Limited Accidental Death Cover from AAMI Life Insurance
The life insurance will provide you with Accidental Death Cover, while your application is being processed. This means while they are processing all of your application , then they will pay your estate of the sum insured you’ve applied for if you were to die as a result of an accident. On the date they receive all of your completed application for assessment, this limited cover will start and will cease on the earliest following events. The date when they advise you that your limited cover is cancelled; fourteen days from the date of your limited cover begins; the date when you die; or the time when your application is withdrawn, declined or accepted.
The cover of AAMI life insurance stops once you reach your 99th birthday. The cover will also stay under this policy at the earliest following events: the date when you die; the date when your policy is cancelled due to non-payment of the outstanding premiums; the time when the Terminal Illness Benefit is paid; or when you ask them to cancel all the policies.
