About life insurance

TPD cover provides a lump sum payment if the insured person becomes totally and permanently disabled. This money can be used to help pay medical expenses or cover the cost of necessary lifestyle changes.

Critical illness cover provides a lump sum payment if the insured person suffers critical illness. The money paid can be used for any purpose; whether it’s to seek specialised medical treatment, reduce debts or make necessary lifestyle changes.

Child cover provides a lump sum payment if the insured child dies, is diagnosed with a terminal illness or suffers a critical illness. It provides financial support to help a family concentrate on what’s important.

Income Support Cover replaces up to 70% of the insured person’s income if they’re unable to work due to illness or injury. This can help cover day-to-day expenses such as school fees and mortgage and car repayments; allowing the insured person to focus on recovery.

A beneficiary is the person (or people) you choose to receive your life insurance benefit if you pass away while you’re covered by a life insurance plan. If you’re choosing more than one beneficiary, you’ll need to let us know what proportion of the total benefit amount you’d like each beneficiary to receive. If you wish to add or update a beneficiary nomination for your plan, you can do so at any time. Simply call us on 1300 090 188 or email us at customerservice@neoslife.com.au.