AMP Insurance Review - Car, Home, Life

AMP Insurance is another brand that offers products in the life insurance area. There come in both comprehensive and basic insurance products, covering different levels of protection. First a bit of history; they are one of the leading wealth management companies in Australia and New Zealand and gives their customers access to several services such as financial advice, superannuation and more. Seeing that they are already so established in the financial industry, I have no doubt that they would be great in providing insurance as well.

The comprehensive insurance products

I saw a full range of different products that can be tailored suited to your needs. The first was their Flexible Lifetime Protection plans. There are several to choose from depending what you need protected. The first being Death, TRP and Trauma, you are covered with receiving a lump sum payment if you become terminally ill or even if you were to die. The second one which is income protection will secure your ability to receive an income even if you are too ill to work. What I love about this is that you can choose the level and type of cover, and the period in which you will be able to enjoy the benefits. The third is business overheads insurance which gives you protection for expenses like rent, salaries and vehicle leases.

The other type of comprehensive insurance is known as AMP Elevate. The first plan offers life insurance, TPD and Trauma. It is written on their website that they are affordable and will able to pay you with a lump sum payment. The one after this is income protection and lets you choose from a further five different policies, depending on what plan you want and how old you are. The final elevate plan is for business expenses insurance and this is designed to pay for the fixed costs of running your business.

Basic insurance products

Now let us look at the more basic insurance products.

For those that want to make sure they can keep paying their home loan repayments should get Loan Cover. In this cover, you are guaranteed to be able to keep making payments towards your home loan if you suddenly become terminally ill or even in the worst case scenario where you die. The thing that I really love about this plan is that if the estate is shared, both partners can get cover under the same plan, meaning there is no need to spend extra money to get two plans.

The Funeral Plan is for people that want to make sure their families get the peace of mind to pay for their funeral after they have passed away. This as you can see, is a very basic life insurance policy that only pays out after you have died, and not before you die such as if you suffer a life changing g disease. The only thing to remember though is that there is a cooling period of 30 days.

The final basic plan is Life Insurance. You are able to get up to a million dollars’ worth of life protection benefits and will let you be covered up to the age of 70. It is available for anyone between the ages of 16 and 60 and is also a worldwide cover.

AMP Insurance has been rated 4.5 out of 5 by Insurance Reviews.

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