Living Assurance can give you substantial financial resources in the event that you suffer any one of a number of serious medical conditions, so that you can focus your energies on dealing with your condition and not on dealing with the day to day demands of others.
Living Assurance is a policy which pays a tax-free lump sum benefit if you develop any one of 45+ specified medical conditions. The benefit is normally the full amount of cover provided under the policy, but for some lesser conditions it is part of that amount.
Living Assurance can make up for loss of earnings (including loss of earnings for a partner who stops working to care for you), and clear debt which might otherwise be a drain on your finances. It can also meet often substantial expenses involved in private treatment.
Protect yourself from the effects of serious illness with Sovereign TotalCareMax Living Assurance.
Apply online today and receive
25% Cash Back plus a $100 New World Voucher
when your policy is issued.
Living Assurance provides cover for 47 medical conditions across 5 categories:
|7.||Coronary artery bypass surgery|
|9.||Heart valve surgery|
|10.||Out-of-hospital cardiac arrest|
|13.||Benign brain tumour|
|18.||Idiopathic Parkinson’s disease|
|19.||Major head trauma|
|21.||Motor neurone disease|
|28.||Loss of independent existence|
|31.||Permanent loss of hearing|
|32.||Permanent loss of speech|
|33.||Permanent loss of use of limbs|
|34.||Quadriplegia / Tetraplegia|
|37.||Chronic liver failure|
|38.||Chronic lung disease|
|39.||Chronic renal failure|
|43.||Major transplant surgery|
|44.||Severe Crohn’s disease|
|46.||Severe rheumatoid arthritis|
|47.||Severe ulcerative colitis|
Sovereign TotalCareMax Living Assurance includes all the following great features:
There are more than 40 medical conditions covered in total, ranging from cancer, stroke, heart attack and neurological disease, to coma, paraplegia, advanced diabetes and HIV.
Receive a benefit payment if you suffer for the first time any one of a wide range of well-known medical conditions, to the extent which is specified in the policy.
Receive a partial benefit payment if you suffer a specified medical condition to a less serious extent than that which would normally trigger a full benefit payment.
If your child suffers a covered condition, receive a benefit of 50% of the sum assured (up to $20,000). This benefit provides trauma cover for your children at no additional cost. Payment of this benefit will not reduce the amount of any benefit remaining for you.
If your biological child is born with one of five defined congenital conditions and survives for 30 days after birth, receive a benefit of 50% of the sum assured (up to $20,000). Payment of this benefit will not reduce the amount of any benefit remaining for you.
Increase the amount of cover under your policy following certain life events, without any medical questions, examinations or tests. An increase in premium applies. See the Benefit Appendix of the Policy Wording for details and terms.
You can increase the amount of cover under your policy at every third policy anniversary date by up to 20% of the original cover (maximum $200,000), without any medical examinations, tests or even questions. An increase in premium applies.
Any and all benefits payable under your trauma insurance policy are paid as tax-free lump sum benefits under current legislation, directly to the policy owner.
Whether you’re at home, or travelling or working anywhere overseas for any period, you remain insured for every medical condition which is specified.
After you receive your claim payment, you can spend up to $2,500 including GST on fees for financial advice obtained from an approved and accredited adviser.
If any change is made to the underlying policy in the future, and that change would be favourable to you, then guaranteed enhancement means that the change will automatically be applied to your policy.
If at any time during the 15 days following receipt of your policy you don’t wish to continue with your cover (for whatever reason at all), you can return your policy for a full refund of all premiums paid.
Check out the FAQs for answers to frequently asked questions.
View or download a copy of the policy wording.
The above identifies and provides a brief summary only of the principal benefits under the policy. Please refer to the policy wording, including the policy appendix and schedule, for full details of all the benefits and the terms and conditions under which they are provided.