Insurance Glossary

Some policies may not cover you for certain conditions, based on pre-existing medical conditions and lifestyle factors. These are referred to as Exclusions and will be outlined in your policy.

An Expiry Age is the expiration date of your insurance policy as specified in the policy schedule unless the policy ends earlier (for example for non-payment of premium or if you choose to cancel your policy). You are not covered under the policy for events occurring after the end of the policy. However, you can claim after expiry age but only if the illness, sickness or event occurs during the period of time your policy was in place. The end date may be a fixed time or tied to a certain age of the insured.

Funeral expense or advanced funeral benefit is a percentage of your life insurance benefit that is paid to your beneficiaries in advance of the total sum insured being paid out, to cover funeral costs.

Future insurability is a feature built into your policy where you can increase your cover by a certain amount without underwriting after a major life event. This could include getting married, having a child, or taking out a mortgage.