Reward Premium Life Cover provides a benefit of up to $500,000 if the life insured dies due to sickness or an accident. To be eligible for this cover the life insured must be an Australian resident aged 18-65 years. Acceptance for this cover is subject to the life insured passing some simple health questions. No medicals are required.
Reward Premium Life Cover is generally suitable for anyone with larger debts such a home mortgage and anyone wanting to provide some longer term financial protection for their partner or family.
Reward Premium Life Cover offers all the usual features of standard life insurance policies but with very competitive premiums. Reward Premium Life Cover is a quality, affordable, low-cost life insurance solution for people requiring higher levels of cover. Add Reward Trauma Cover or Reward Injury Cover for even greater protection.
Up to 2 adult family members can be insured under a Reward Premium Life Cover benefit.
Core Benefit Features
- The life insured must be an Australian resident aged 18-65 years at policy commencement
- A lump sum benefit is payable if the life insured dies of any cause (some exclusions apply)
- $50,000 to $500,000
- Inflation Protection: automatic 5% annual benefit amount increase (may be declined)
- Some simple health questions
- No medicals required
- suicide with 13 months of commencement
- criminal activity
- aerial activity
- motorised sport
- war or terrorism
- alcohol and drugs
- specific occupational risks