AIL of New Zealand is responsible for distributing Life, Accident and Supplemental Health insurance policies to New Zealand families on behalf of American Income Life Insurance Company.
It’s not about you. Life insurance is something you do to protect those you love, so they don’t suffer financially if your income is no longer there and you don’t leave them with a financial burden. Life insurance can be the only thing that stands between your loved ones and financial hardship.
What Is Life Insurance?
Life insurance is needed for the “what ifs” in life. What if I die unexpectedly? Could my family continue to afford to live in our home? Will my family have the funds on-hand to pay for my funeral and final expenses? Life insurance is there to provide financial assistance to those affected by the “what if” situations.
Permanent Life Insurance and Term Life Insurance
There are two types of insurance: Permanent Life and Term Insurance. The specifics of your life — your age, income, and other factors — will help determine which type of and how much life insurance is appropriate for you. But one fact is always true: Funds for your funeral and final expenses will always be needed. If the loss of your income would negatively impact those who depend on you, consider adding a term life policy to a permanent life policy. Term life insurance can help your family if you die during your peak earnings and asset accumulation years.
|PERMANENT LIFE INSURANCE||TERM LIFE INSURANCE|
|Provides you with the knowledge you will have permanent coverage for the entire existence of the policy and the benefit amount upon your death will be paid in full to your beneficiary||Provides you with knowledge you will have term coverage to cover the needs of a temporary nature, such as pay off a mortgage or to protect your income during your working years|
|Provides coverage up to age 120 years||Provides coverage for a limited period of time|
|Premiums never increase during ownership of your Permanent Life policy||After that period, policyholders typically pay increased premiums to continue coverage|
|Provides a Funeral Benefit through our Freedom of Choice Certificate. Where a beneficiary can assign a specified amount to be paid directly to the chosen Funeral services company||Term life insurance policies are ideal for receiving the best coverage for a set period of time.|
Additional benefits built into Permanent Life Insurance and Term Life Insurance
- Strike Waiver
Provides a Waiver of Premiums while the insured is on authorised strike and is prevented from engaging in their usual occupation. One-month premium is waived for each month of strike. If strike lasts less than a month, one-month premium will be waived. Maximum waiver is 12 months.
- Redundancy Waiver
Provides a Waiver of Premiums if the insured is made redundant from their occupation they have held consecutively for the last 12 months. A qualified redundancy is termination of employment due to a reduction in force for economic reason. Maximum waiver is 3 months.
Additional optional benefit
- Terminal Illness Rider
This rider can be added to a life insurance policy at no cost to the insured. The Accelerated Benefit pays 50% of the coverage face amount when the insured is diagnosed with a terminal illness and has a life expectancy of less than 12 months. The policy premiums remain the same after payment of the Accelerated Benefit to the insured and the beneficiary receives the remainder of the policy proceeds upon death of the insured.
We can help you decide which policy will best fit your family’s needs. You can protect your family for when the inevitable occurs.
Accident and Supplemental Health Insurance
Being prepared is important … especially if you develop a health problem like cardiovascular disease or stroke, cancer, or are involved in an auto accident that lands you in intensive care. These events can impact not only your health, but also the financial wellbeing of your family. We can help you be more prepared to face the future.
Our supplemental insurance products complement any insurance you may already have in place.
Accidental Death and Dismemberment
The thought of an accident taking the life of a loved one is very troubling. No matter what your age or circumstances, you or a family member could be a victim. Just as accidents happen in an instant, the lives of your loved ones are changed in that same instant. The Accidental Death and Dismemberment policy pays benefits for accidental injuries.
No one can predict when they will get sick or have an injury. How would you handle an illness or injury where you were admitted into hospital for treatment? Could you pay your bills and take care of your family financially? The hospital indemnity insurance policy can help protect your family from the unexpected.
When cancer strikes, it shows no favouritism. Everyone is at risk. Medical advances have increased chances of survival, but surviving a cancer diagnosis often causes financial hardship for families whether the patient is the primary wage earner or another member of the family. The majority of working men and women don’t have the financial resources to survive while they are unable to work. Our Supplemental Cancer plans may help offset the financial burden.
How would you handle a critical illness? Could you pay your bills and take care of your family financially if you were unable to work for weeks … or months? What is your risk of having a critical illness? With people living longer, they’re more likely to experience a critical illness like a heart attack or stroke. A critical illness policy, covering defined critical illness, can mean the difference between financial security and financial hardship. This benefit can help ease your financial burden and lessen your worry.
We can help you decide which policy will best fit your family’s needs. You can protect your family.
We are proud to offer a variety of no-cost products to help provide valuable protection for you and your family.
Child Safe Kit
Every parent has had the frightening experience of looking away from their child for mere seconds, only to find them gone when they look back. Fortunately, they are usually quickly found close by. But what if they’re not? The Child Safe Kit makes pertinent information about your child available in one place, at a moment’s notice, when seconds count the most. American Income Life provides these kits at no cost to all New Zealand parents and or guardians.
Group Accidental Death and Dismemberment
Since opening the New Zealand Agency in 1995, our focus has been on providing insurance products through our Trade Union, Credit Union and Association partnerships. Over 200,000 Kiwi families from a wide range of industries, communities and backgrounds enjoy AIL protection as part of their membership in these groups.
For your final wishes and requests. Make your decisions now and relieve your family from making the choices later. Outline your personal wishes and desires for your funeral arrangements.