Helping you always have the cover you need

Taking out life insurance cover may be one of the most important things you can do for your loved ones – providing future financial security after you pass away. But it can be tough to know whether you have the right level of protection, especially as your needs and circumstances often change throughout your lifetime.

You can speak to your adviser about whether your existing product has features that may allow you to change the level of cover you hold. One of these features – guaranteed future insurability – could make it simple to get the amount of cover you need, without any complicated paperwork, if there’s a significant change in your life.

How it works

A change in personal circumstances can trigger the need to increase your level of life insurance cover. With guaranteed future insurability, you may be able to simplify this process by automatically increasing your cover when certain ‘life trigger’ events occur. Unlike the usual process of applying for an increase in insurance cover, you won’t have to go through the underwriting process or provide any medical information – as long as the policy you hold has guaranteed future insurability included.

Generally, you may be able to apply to increase your cover once in any 12-month period by either a percentage or a set amount. You can find out whether you have guaranteed future insurability by contacting AMP Life or by asking your financial adviser to review your policy in detail. This can help give you peace of mind that you’ll always have the level of protection you need, no matter what happens in life.

What are the common life trigger events your policy may hold?

  • Getting married or divorced
  • Having or legally adopting a child
  • Your child starting school
  • Taking out a home loan to buy your first home
  • Completing your first undergraduate degree
  • Becoming a carer for the first time
     

Get the protection you need

While guaranteed future insurability can give you higher cover in specific circumstances, it’s still important to review your life insurance policy regularly to make sure it’s appropriate for your needs.

Your financial adviser can help you make sure you have the right type and amount of cover for your situation – taking into consideration your budget, income, debts and lifestyle.

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Find out more

If you have any questions about your insurance, speak to your financial adviser or call AMP Life.

AMP Life

Monday to Friday 8:30am – 7:00pm (AET)

Important information

Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP at amp.com.au or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.

Products in the AMP Eligible Rollover Fund, National Mutual Retirement Fund, and NM Pro Super Fund are issued by Equity Trustees Superannuation Limited ABN 50 055 641 757 (trustee). Risk products are issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. AMP Life has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.

Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.

Life Insurance Code of Practice

The Life Insurance Code of Practice is issued by the Financial Services Council (FSC) and sets out the life insurance industry’s commitment to high customer service standards, consistency and principles of conduct.

As a member of the FSC, AMP supports the Life Insurance Code of Practice. You can find more information here.