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Features
Life insurance, otherwise known as death cover, can give you peace of mind knowing your family will have financial security if you were to die or become terminally ill.
Your dependents receive a lump sum payment that they can use to meet future expenses, pay off the mortgage or other debts and maintain their lifestyle when they need it most.
Often included within death cover is a terminal illness benefit. This is an important benefit where we pay all or part of your cover if you are diagnosed with a terminal illness and have less than 12 months to live.*
*This may vary between products
Here’s what you get
Our claims track record
Did you know we have a strong history of paying claims? So if the unexpected does happen, you know you can count on us.
Our life insurance products
Elevate - Life insurance
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- Future insurability allows you to increase your sum insured without the need to provide further health evidence when one or more specified personal or business events occur
- Automatic inflation increases your sum insured each year by the greater of 5% or the increase in Consumer Price Index (CPI). You may decline the increase for any particular year
- Advancement of funeral expenses up to $20,000
- Premium freeze feature for stepped premiums, allowing you to maintain your current premium at the time this option is exercised. Your sum insured will reduce each year that this option is exercised
- Find out more
Firstcare - Lifetime Protection
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- Guaranteed future insurability, allows you to increase your sum insured without the need to provide further health evidence when one or more specified personal or business events occur
- Advancement of funeral expenses up to $20,000
- Waiver of premium option, an additional premium option allowing for premiums to be waived if the insured person was to become totally disabled before the first plan anniversary after their 59th birthday.
- Find out more
This product is closed to new business.Please refer to your policy documents or speak to your financial adviser about the specific features your policy offers.
For information on our other closed life insurance products, please refer to your policy documents or speak to your financial adviser about the specific features your policy offers. Log in to the My Resolution Life online portal to request a copy of your policy documents.
How to apply for Elevate
Elevate is open to new applications for existing Resolution Life customers only. If you are a Resolution Life customer and would like to apply, get a quote or transfer your existing policy to Elevate, please speak to your financial adviser or contact us. Refer to the PDS and other important documents before making a decision.
Example
Greg is 48 years old and runs a small business with his wife, Sue. They have three children under the age of 12, when Greg has a sudden heart attack and passes away. To add to the family’s devastation, Sue is left wondering what will happen to the business and how she will support the kids on her own.
Because Greg took out comprehensive life insurance, Sue receives a lump sum benefit of $2 million. She uses the money to cover the costs of the funeral and clear the mortgage and bills while she tries to adjust to life without Greg and work out what to do next. It’s a relief to her that she doesn’t have to worry about money on top of everything else that follows Greg’s death.
Thanks to the financial support the family receives, Sue is able to take adequate time to make a decision about the business: whether she wants to keep running it on her own, sell it, or hire a replacement for Greg’s role.
As Greg calculated a level of cover that would ensure the same standard of living for as long as the children are still in school, Sue has peace of mind knowing her kids will be taken care of until they achieve financial independence.
Please note this example is illustrative only and is not an estimate of the insured amount you will receive or fees and costs you will incur.
Documents and downloads
Elevate - Insurance product disclosure statement
Resolution Life - Target Market Determinations are available here
Elevate - Insurance Application Form
Important information
Any advice on this website is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), which is general in nature and it does not take into account your objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the relevant product disclosure statement or policy document, available from Resolution Life at resolutionlife.com.au or by calling 133 731, before making a decision about the product.
Read Resolution Life’s Financial Services Guide (FSG) for information about our products and services, including the fees and other benefits that Resolution Life Group companies and their representatives may receive in relation to products and services provided to you. You can access the FSG by clicking here.
Resolution Life is part of the Resolution Life Group and can be contacted on 133 731 or askus@resolutionlife.com.au.
