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Life doesn’t slow down in your 60s. Neither do your responsibilities.
Whether you’re working, supporting your family, or planning for retirement - your life and the people in it still rely on the decisions you make. That’s why life insurance still matters. Explore how your cover can adapt to suit your life.
The insurance cover you have now may have suited your needs when you took it out, but does it still reflect your needs today? To review and make changes to your cover, please speak to your financial adviser or contact our Customer Solutions team on 133 731 option 4 ext 50012.
Why life insurance still matters
Protect loved ones
Provide peace of mind to your partner and family
Cover remaining debts
Help with mortgage, credit card, or final expenses
Leave a legacy
Support your grandkids or a cause you care about
Cost-conscious? Here are some ways to keep it affordable.
Looking for ways to manage premium costs? There are flexible options that can help you stay covered while reducing your premiums. Learn more here.
Consider adjusting your cover
As life changes, you may not need as much cover as before. Reducing your cover amount could lower your premiums, while still keeping protection in place. Speak to your financial adviser or contact our Customer Solutions team on 133 731 option 4 ext 50012. View your current level of cover and your premium details in My Resolution Life.
Opt-out of inflation adjustments
We generally offer an automatic annual increase of your cover to keep up with the rising cost of living. This ‘inflation adjustment’ or ‘automatic inflation’ increases your sum insured by either a fixed percentage or the increase to the consumer price index (CPI). We’ll apply whichever of these is higher, which means you’ll get more cover but also pay higher premiums. Learn more about inflation adjustments here.
You can opt out of this increase either for a year or permanently, with the change taking effect from the next policy anniversary. Opt-out using this online form.
Remove optional extras
Some policies include additional options which carry additional costs, like premium waiver or life cover buyback. These provide extra benefits but also add to the cost. Removing an option that you no longer require can help reduce your premiums but also removes the benefit. If you decide to add some additional options back after they have been removed, this may require underwriting and if your health has changed you may not be eligible to add them back.
Speak to your financial adviser or chat to us to review your policy and to remove any options you might no longer need.
Your cover matters most when it counts: At claim time
When it comes to protecting your loved ones, having life insurance you can count on is crucial. At Resolution Life, 92% of death claims are made by customers aged 50 and over1, highlighting the importance of maintaining your cover as you age. Additionally, our death claim acceptance rate is an impressive 98.8%2, when claims are made through a financial adviser. This means you can have peace of mind knowing that your policy will be there to provide support when it’s needed most. Find out more about how we support our policy holders at claim time.
Common misconceptions (and what’s actually true)
Myth: I’m too old for life insurance to matter
Fact: If you have dependents or debt, life insurance still matters.
Myth: Life insurance is expensive and not worth it
Fact: You can often adjust your cover to make premium payments more manageable, while still staying protected.
Myth: My Super will cover everything
Fact: Super may not cover all expenses, especially if you still have a mortgage, have final expenses or want to leave something behind.
Understand what you may be giving up before cancelling
Cancelling your cover now may mean:
- Losing cover that may leave you or your loved ones without a financial safety net.
- Needing medical tests if you reapply for cover later.
- Potentially being ineligible for new cover, if your health circumstances change or you are above entry age for the cover.
You’ve maintained your cover for a reason - ensure it still meets your needs.
What’s your next step?
Want to adjust your insurance cover or need a quote? Please speak to your financial adviser or contact our Customer Solutions team on 133 731 option 4 ext 50012.
Important information
Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), is general advice and does not take into account your objectives, financial situation or needs. 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 product disclosure statement and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations for our products can be found at resolutionlife.com.au/target-market-determinations.
Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.
Resolution Life can be contacted at resolutionlife.com.au/contact-us or by calling 133 731.
