About Seniors Final Expenses Insurance
Australian Seniors Insurance Agency has been providing quality, trusted insurance cover for Australians since 1998. We specialise in over 50’s seniors insurance. That’s why Seniors Final Expenses Insurance is cover that you can count on to help protect your family from the financial burden of your remaining costs like funeral expenses, household bills and credit card debt.
Many people don’t realise how expensive funerals can be, or how quickly remaining bills can add up, which may leave your loved ones with unexpected financial stress. If you are looking for a funeral insurance product, then Final Expenses Insurance could offer your family the financial solution they need. Seniors Final Expenses Insurance is designed to help ensure your family has the funds to cover the costs you could leave behind.
Request a quote to find out how easy it is to get peace of mind.
Don’t spend time worrying about whether or not you’re eligible for Seniors Final Expenses Insurance. If you’re an Australian resident aged 50 to 79 and looking for insurance to help cover your funeral, you won’t be turned down. We also won’t ask you any questions about your health, medical history or lifestyle when you apply.
Final Expenses Insurance to cover your family
You can choose to extend your Seniors Final Expenses Insurance to cover your family with the family plan, which covers your partner and all dependent children until they reach age 21, provided they are Australian residents.
Products tailored to seniors – Final Expenses Insurance with a flexible premium structure
At Australian Seniors, we understand that everyone’s budget and needs are different. That’s why we offer a flexible premium structure. You can choose either the age-based or fixed premium rate option to suit you and your budget.
Age-based premium option
If you’re looking for cost-effective insurance now, with an automatic increase feature to ensure your cover keeps up with rising costs, then take a look at our age-based premium option. Your premium starts lower than with a fixed premium option, and is calculated when you take out your Policy and again at each Policy Anniversary.
To help you keep up with rising costs, your cover is automatically increased by 5% each year on your Policy Anniversary until you attain the age of 80. However, you can choose not to accept this increase, we will write to you at each Policy Anniversary and give you this option.
Once the oldest Life Insured on the Policy is older than 79, your premium rate won’t increase due to age. What’s more, from age 90 you will no longer have to pay premiums, and your cover will still continue so you can enjoy the benefits without the expense.
Fixed premium rate option
If you are aged 50 to 79 and want that little bit of extra help managing your budget, along with the peace of mind knowing your premium won’t change based on your age, consider our fixed premium rate option. Although your premium starts higher than the age-based premium option, each Policy Anniversary your premium will be calculated at the same rate as applied at the commencement of your policy – even though you’re getting older!
Your Benefit Amount will automatically increase by 5% each year each Policy Anniversary until you attain the age of 80. Because we consider your age to be fixed, your premiums will only increase by 5% each year. However, you can choose not to accept this increase. We will write to you at each Policy Anniversary and give you this option. With this future knowledge, you’ll have extra help managing your budget.
Plus, from age 90 you will no longer have to pay premiums, and your cover will still continue.
Some things you should know
- Cover is for Accidental Death only in the first 12 months, then death by any cause thereafter.
- The Benefit Amount automatically increases by 5% annually up to age 80 with a corresponding increase in premium annually but you can choose to decline this increase.
- In addition, if you have selected the age-based premium option, your premium rate will increase on each Policy Anniversary if the oldest Life Insured on the Policy is aged between 44 and 80. While the oldest Life Insured on the Policy is younger than 44, or older than 79, your premium rate won’t increase due to age.
- If cover ends, no benefit is payable and there is no refund of premiums after the cooling off period.
- Please be aware that if you hold your Policy for an extended period of time, it is possible that you could pay more in premiums than the Benefit Amount.
- After the Commencement Date on the fixed premium rate option, you are unable to change the premium option you have selected, without cancelling and restarting your cover.
30 day cooling off period
Choosing a policy that’s suitable for you is important, and we strive to give our customers security and peace of mind. That’s why we give you a full 30 day cooling off period from the time you receive your Policy. That means you’ll have 30 days to review your Policy documents, and decide for sure that it’s right for you. During this time, you may cancel your Policy by writing to us and returning your Policy documents. Any premiums you may have paid will be refunded in full, unless you have lodged a claim.
Choose your level of Final Expenses Insurance
Everyone’s financial circumstances are different, so we allow you to select a cover option that suits your needs and budget, in $1,000 increments from $3,000 through to a $15,000 Insurance benefit (benefit paid for Accidental Death only in the first 12 months, any cause of death thereafter).
If cover ends, no benefit is payable and there is no refund of premiums after the cooling off period. Please be aware that if you hold your Policy for an extended period of time, it is possible that you could pay more in premiums than the Benefit Amount.
Triple benefit paid if death is the result of an Accident – up to $45,000
If your death is the result of an Accident, then 3 times your selected Benefit Amount will be paid. This means if you have a $15,000 Insurance benefit, and you die as the result of an Accident, the benefit payable to your loved ones would be $45,000.
Guaranteed renewable for life
Life throws unexpected things at us sometimes, and we’re determined to offer you Final Expenses Insurance cover that you can depend on for life.
Your Policy is guaranteed renewable for life as long as you continue to pay your premium – even if your health and circumstances change. You’ll even be free to go overseas and see the things you’ve always wanted to, as once your Policy is in place, you’ll be covered anywhere in the world, 24 hours a day while your Policy is in force.
What’s more, from age 90 you will no longer have to pay premiums, and your cover will still continue.
Optional Accidental Serious Injury Insurance
No matter what your lifestyle, accidents sometimes happen which can cause serious injuries. A serious injury would not only affect your quality of life, but also the wellbeing and quality of life of your partner, family and loved ones.
Australian Seniors Final Expenses Insurance can help you be prepared if you were to suffer a serious injury directly as the result of an Accident. If you are aged up to 69 years of age, you have the option of adding Accidental Serious Injury Insurance to your Seniors Final Expenses Insurance. Accidental Serious Injury Insurance pays a lump sum benefit if you suffer an Accidental Serious Injury (as defined in the Product Disclosure Statement). The Benefit Amount is equal to 3 times the sum insured on your Seniors Final Expenses Insurance.
If your partner or dependent children are covered under your Policy, they will be covered by the Accidental Serious Injury option as well.
You can apply online or simply call 1300 145 532 and we can take your application over the phone.
Call 1300 145 532 for an obligation free quote or to apply.