How it works
iExtend offers an alternative option for policy owners who have committed to cancelling or reducing their life insurance cover.
Step 1:
Register Your Interest
Get in touch with iExtend to register your interest, or complete our QuickCalc to check if your policy may qualify for a Life Co-Ownership Arrangement. If your policy is likely to qualify, our team will contact you to guide you through the next steps.
Start here:
Contact Us
Check your eligibility through our pre-assessment QuickCalc tool
Step 2:
Provide Your Consent
Provide your communication preferences and your privacy health consent as part the General Advice process.
To speed up the pre-assessment, we recommend downloading the relevant iExtend condition-specific or general health questionnaire (located to the right).
The short questionnaires provide more information about specific health conditions, helping us assess your qualification quickly and efficiently.
Step 3:
Assess Policy and Final Approval
Submit your life insurance policy and health information for final assessment.
Once approved, you are eligible to apply for the iExtend Life Co-Ownership Arrangement.
Your may need:
Privacy Policy
Step 4:
Share Claim Proceeds
When a successful claim is paid by the insurer, you, your nominated beneficiaries or estate will receive your share of the claim proceeds.
You may need:
Policy Owner Explainer Brochure
The Basics
If you have decided to cancel or reduce your life insurance policy, you may be eligible for an iExtend Life Co-Ownership Arrangement (Arrangement).
iExtend will pay all the premiums on the co-owned life insurance cover and share the proceeds from any future claim with you, your beneficiaries or estate. The proportion of the claim proceeds shared will depend on how long the Arrangement has been in place.
iExtend is a referral only choice for most advisers. This means we do all the heavy lifting, give the General Advice and complete the administration. The adviser simply refers you to us.
The pre-agreed share is based on how long the policy has been co-owned with iExtend
*If there is indexation on the policy, the original sum insured increases
Indicative Percentage Payout Scenario
Potential iExtend advantage to cancelling your $1,000,000 Life Insurance Cover
Based on a sliding scale, you will receive a percentage of any claim including indexation, if applicable.
Disclaimer: This chart is of a general and educational nature only and does not take into account an individual’s particular circumstances (whether financial, medical or otherwise).
Process
If you have a trusted financial adviser, we suggest speaking with them first.
You can also contact iExtend directly:
- Phone: 1800 299 501
- Email: [email protected], or
- Complete our QuickCalc and our friendly General Advice team will call you if you are likely to qualify.
