Asteron Life has a new Specific Injury Support Benefit that is designed to complement your standard Income Protection insurance or ACC cover. It’s a low-cost extra financial benefit that may be used for additional medical costs or to help around the house while you recover. Let’s look at Asteron Life’s new Specific Injury benefit, what it gives you, and if it is worth adding to your current Asteron Life policy.

Specific Injury Benefit (Monthly or Lump Sum) when you need it

Asteron Life’s new Specific Injury Support Benefit can provide additional financial support if you experience any of the 29 specified injuries listed in the table on the policy document here. This benefit will pay regardless of whether you can still work.

Benefit Payment Options

There are two benefit payment options to choose between: monthly or lump sum. This means you can choose to receive a monthly payment or a full one-off payment. It’s up to you how you use this money – you could use it for everyday bills, special transport, or specific treatments. Many people may choose a monthly benefit to ensure a manageable supplement to their income. Best of all, whichever benefit you choose won’t reduce any ACC benefits you may be entitled to.

The maximum sum insured is $5,000, but you can get multiples of this amount.

• Paid in multiples, ranging from 1 – 60 times the sum insured

• For example, if you had $5,000 of cover and experienced ‘Any injury that required surgery under general anaesthetic you will receive 3 x $5,000 = $15,000   or a ‘Heal fracture’ you will receive 2 x $5,000 = $10,000

• This is non-taxable, paid as a lump sum, with no wait period.

How the premium structure works:

• Similar to Level Premiums in that it is a set cost.

• There is no difference in price regardless of age, gender, or smoking status and there are two rates based on Higher Risk and Lower Risk occupations

No Medical Underwriting  |  No Financial Underwriting   |  No Hazardous Pursuit Exclusions  –  Why would you not add this every time? 

If you or a key person suffers an injury due to an accident, you may not get coverage under other insurances or ACC if the injury was deemed minor. How would your business manage financially if you or a key person were unable to work due to the injury? If you are interested in adding Specific Injury Support Benefit to your policy, contact one of our advisers today.