Guaranteed future insurability and future insurability benefit

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 ways to change the level of cover you hold. One way, known as guaranteed future insurability or future insurability benefit, is an in-built feature available in many products that makes it easier to get the amount of cover you need if there’s a significant change in your life, while avoiding unnecessary paperwork.
 

How it works

A change in personal circumstances can trigger the need to increase your level of life insurance cover. With guaranteed future insurability or future insurability benefit, you may be able to simplify the application process to increase your cover after certain ‘life trigger’ events have occurred. 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 this feature included.

If you are eligible for this feature you can apply to increase your cover once in any 12-month period by either a percentage or a set amount. You can find out whether your specific insurance plan includes this feature by contacting Resolution Life, reviewing the information forms below or by asking your financial adviser to review your policy in detail. Ensuring you have the right level of protection can provide peace of mind, 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

Find the right form

Use the below form to review your eligibility and increase your insurance cover under the Future Insurability benefit for the following Resolution Life insurance plans:

• Elevate insurance
• Ex-NMLA insurance (commencing after 25 July 2005).

Use the appropriate form below to review your eligibility and increase your insurance cover with Guaranteed Future Insurability under your Firstcare - Lifetime Protection plan.

Guaranteed Future Insurability application form for Death, Total and Permanent Disablement (TPD) and Trauma cover (Form NS3261_RLA)

Guaranteed Future Insurability application form for Income Protection plan (Form NS3380_RLA)
 

Get the protection you need

While guaranteed future insurability or future insurability benefit can be used to apply for higher cover following specific life events 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.