Why do you need Life Insurance?

Imagine your family after your death - what do their lives look like?

  • Your home: Is there a mortgage, and who will pay it?
  • Your children: What was your vision for your children's future, and what does it look like now?
  • Your income: If you were the major income provider, where does that income come from now?
  • The future: Because your family's future plans have now changed, are their choices limited?

The good news is that you can influence these outcomes.

Life Insurance helps give your family the financial freedom to be able to make the choices you intended and move on with their lives.

Special Events Increase Benefit

Major life events often mean you need to increase your Life Insurance. In the following circumstances you can purchase additional cover, irrespective of your state of health:

  • Marriage
  • Divorce
  • Having a child (by birth or adoption)
  • Becoming a full time carer for the first time
  • Death of your spouse
  • Effecting or increasing your mortgage
  • Entering private practice or becoming a partner or director in a company for the first time.

Terminal Illness Benefit

If you are diagnosed as terminally ill with less than 12 months to live, a maximum of $1,000,000 of your life insurance can be paid early.

Advanced Assistance Benefit

There are many expenses immediately incurred upon death. Our Life Insurance cover can pay up to $15,000 immediately, in advance of the sum insured, upon written notification of death.

Future Life Insurance Option

Your health can change as you age. By selecting this option, you can purchase additional Life Insurance cover every three years prior to your 55th birthday irrespective of your state of health at the time - protecting your ability to get cover in the future. (Terms and conditions apply to this optional benefit).

Recent MAS Life Insurance Claims

Life Insurance is important for people of all ages, as a wide range of unexpected events can and do occur. The following is a sample of Life Insurance claims paid by MAS between 2007 and 2015.

Age at Death Cause of Death Sum Insured
30 Bowel Cancer $50,000
41 Melanoma $290,000
53 Leukaemia $426,100
56 Car Accident $400,000
41 Bowel Cancer $562,900
59 Prostate Cancer $262,000
53 Brain Tumour $111,600
49 Heart Attack $100,000
52 Oral Cancer $692,600
46 Breast Cancer $253,600
49 Lung Cancer $900,000
52 Ovarian Cancer $250,000
64 Heart Attack $100,000
52 Skin Cancer $2,100,000

MAS PLP Interim Cover

Terms and Conditions

Interim cover is insurance we offer policy owners for up to 60 days while we assess an application for Life InsuranceRecovery Insurance, or Total and Permanent Disablement Insurance

Click to view the terms for MAS PLP Interm Cover.

Next Steps

For more information read our Life Insurance summary document. The next step is to meet with a MAS adviser who will conduct a free financial review. MAS advisers are happy to meet when and where it suits to fit into your busy schedule. 

So you want to...prepare for the unexpected? 

Thinking about what would happen to your money if you fall ill or have a serious accident isn’t much fun, but responsible adulting means you need to be prepared for the unexpected. Continue reading...

This webpage is intended as an information guide only and does not form part of the policy document or any contract with MAS. This webpage does not take into account your own personal financial situation or goals. If you would like more detailed financial advice we can get one of our advisors to contact you. Normal underwriting criteria apply for all insurance products. Special conditions and/or excesses may apply to the situations that meets your specific needs.