Superior Life Insurance Cover

Our Superior Life Insurance offers you comprehensive life insurance cover to help protect your family’s future and give you peace of mind, knowing your loved ones will be taken care of financially if you die suddenly or suffer from a Terminal Illness.

With our Superior Life, you can apply for a Life Insurance lump sum benefit between $100,000 and $1,500,000* to help your family or other loved ones cope with the financial impact of your death or Terminal Illness. This money can be used for anything from paying off a mortgage to covering medical expenses.

Plus, with Superior Life you have the option to apply for additional cover for Trauma and/or Total and Permanent Disability (TPD), for even greater protection and peace of mind.

You can apply for our Trauma Cover up to $500,000* to assist with your additional medical costs for specified trauma events such as Cancer or Heart Attack.

You can apply for our Total and Permanent Disability (TPD) up to $1,500,000* to secure your family’s financial future and safeguard your existing lifestyle in the event that you are total and permanently disabled.

(*Maximum cover depends on your age at the Policy Commencement Date)

When is the benefit payable?

Your life insurance lump sum payment from your Superior Life Insurance Policy is paid when you die and whilst a claim is being assessed we will advance $10,000 of the Life Insurance Benefit Amount to assist with the costs associated with funeral and other final expenses.

In the event of your diagnosis with a Terminal Illness, while your Policy is in force, we will pay you 100% of the Life Insurance benefit as a lump sum, to assist you financially during this difficult time.

Our optional covers of TPD and/or Trauma payments are made as per your pre-agreed policy wording.

Who can have this cover?

As of 1 April 2021, IA Life is no longer accepting applications for new Superior Life Insurance
Cover. Existing policies will remain unaffected.

Australian residents aged 18-64 years were able to apply for Superior Life Insurance Cover until 31 March 2021. As long as premiums are paid it continues for your whole life.

For our Total and Permanent Disability and Trauma cover you must be 59 or under and cover continues up to the Policy Anniversary following your 65th birthday.

Download our product information guides here

Summary of Cover

Product FeatureLife CoverTPD CoverTrauma Cover
Minimum age at entry18 yrs18 yrs18 yrs
Maximum age at entry64 yrs59 yrs59 yrs
Benefit expiry datePolicy cancellationPolicy anniversary following your 65th birthdayPolicy anniversary following your 65th birthday
Minimum sum insured$100,000$50,000$50,000
Maximum sum insured at Policy Commencement
Age 18 - 44$1,500,000$1,500,000$500,000
Age 45 - 54$1,000,000$1,000,000$500,000
Age 55 - 59$750,000$750,000$500,000
Age 60 - 64$500,000N/AN/A
Inflation protection (automatic unless you opt to decline the increase)5% p.a. each Policy Anniversary up to age 705% p.a. each Policy Anniversary up to age 645% p.a. each Policy Anniversary up to age 64
Built in benefitsTerminal Illness Benefit - an advance payment of 100% of your life insurance benefit.

Advance payment of $10,000 to assist with funeral and other final expenses.
    

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