Asteron Life Income Protection

Asteron Life is committed to bringing you life policies that support you throughout life's journey.

They work closely with advisers to provide expert insurance advice and get you the right cover, thus enabling you to live life to the fullest.

Previously known as Royal and Sun Alliance, the company's enduring principles have remained the same throughout various name changes.

As part of the Suncorp New Zealand family, they belong to a leading general and life insurance business.

The Group serves over 9 million customers and manages more than $96 billion in assets, ensuring that Asteron Life is financially secure when you need to make a claim.

They boast a 95% claims acceptance rate, with $116.3 million paid to customers between 01 July 2021 to 31 June 2022.

143 years of unwavering support for New Zealanders

They consider their customers to be at the core of their business. Customers that they’ve provided steadfast support for 143 years.

Commitment to excellence, sustainability, and community 

They have numerous accolades that are a testament to their unwavering commitment to excellence. They received the prestigious title of Life Insurance Company of the Year Winner, a true recognition of their dedication to providing top-notch service to their valued customers.

Backed by an AA- Financial Strength Rating from Standard & Poor's and a stable Ratings Outlook, Asteron Life gives you confidence with its strong financial stability.

At the core of their values lies a profound sense of corporate responsibility. Guided by four fundamental principles, they’re committed to fostering a brighter future and making a positive impact.

Flexible coverage: How it works and what it offers

The income protection cover pays until you can return to work or the policy's payment period ends.

You can choose a waiting period between 30-90 days, with longer waiting periods resulting in lower premiums and increased financial flexibility.

Asteron Life's income protection cover offers reliable support during unexpected illness or injury, ensuring financial stability when you’re unable to work.

It provides comprehensive coverage and monthly payments, serving as a safety net during temporary or extended work absences.  

Asteron Life’s two types of cover

1. Loss of earnings: Ideal for stable incomes like salaried employees, paying 75% of actual income loss.
2. Loss of earnings plus: Suitable for fluctuating incomes, such as small business owners, paying the greater of the monthly benefit minus other income sources or 75% of actual income loss at the time of the claim.

Added benefits for peace of mind

Choosing Asteron Life's income protection cover provides access to valuable benefits, including:

• Financial support each month for illness or injury, with benefit payment periods from 2 years to age 70.
• Assistance with rehabilitation, occupational therapy, or childcare for a smooth recovery.
• Flexibility to increase cover by up to 10% annually without additional medical underwriting.
• Waiving the waiting period if the same disability recurs within 12 months of returning to work.
• Taking care of premiums during periods of receiving short-term or long-term support benefits.
• Covering premiums for six months during extended parental leave.

Optional extras: Personalise your coverage

For added peace of mind, optional benefits are available:

• Mental health discount: 10% premium discount for a 2-year maximum benefit period for mental illness-related claims.
• Specific injury support: Coverage for 29 specified injuries, payable even if you continue working.
• Income top-up package: Includes income booster and income bonus for early claim stages.
• Immediate assist package: Support during the waiting period, including bed confinement and crisis benefit.
• Increasing claim: Option to increase monthly benefit payments annually.
• Redundancy: Monthly payments for up to 6 months.
• Needlestick: Protection for medical and emergency services workers against Hepatitis B, Hepatitis C, or HIV.
• Free kids cover: $50,000 of trauma insurance for each child/grandchild at no extra cost, with an option to increase up to $200,000.