ahm Life Insurance

You, your beneficiary or legal personal representative can claim by calling or writing to ahm. ahm says it will send a form to be completed, signed and returned. It may also require your treating doctor or specialist to complete a form.

Before a claim can be assessed, ahm says it will need proof that an insured event has happened. This may include any test, examination or laboratory results.

If your insurance claim is approved, ahm will arrange the payment of your benefit.

Generally speaking, premiums for forms of life insurance such as term life insurance, total and permanent disability (TPD) insurance or trauma insurance may not be tax deductible, according to the Australian Taxation Office (ATO).

The ATO, however, states that you can claim the cost of premiums you pay that cover the loss of your income, such as income protection insurance. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details.

ahm charges stepped premiums, which means your premiums will generally increase each year as you age and your risk increases. Additionally, ahm says your life benefit amount will be increased by 5% each year (with a final increase on the policy anniversary after your 75th birthday). This means your premium will also be increased each year to reflect this higher level of cover. You can opt out of these increases by contacting ahm.

At the time of writing, medical tests are not required when applying for ahm life insurance. ahm says your insurability will be determined by your answer to health and lifestyle questions (for ahm life insurance) or your choice of health and lifestyle statement (for ahm life insurance express). However, in the event of a claim, ahm may require additional evidence or do a full review of your medical records.

After buying a ahm life insurance policy, you may be eligible to increase the amount of your cover. Your application to increase your cover will be subject to eligibility criteria such as age requirements and an underwriting assessment.

You should be able to change your level of cover by adding or removing features or coverage, and by increasing or decreasing your sum insured for each type of cover included in your life insurance policy. If you wish to change your policy inclusions, contact ahm to discuss your options.

Keep in mind that increasing your level of cover or adding your spouse or children to your policy is likely to result in you having to pay a higher insurance premium.

This may depend on the condition and policy you decide to take out. When applying for ahm life insurance, you must disclose (tell ahm about) any pre-existing medical conditions you have now or had in the past, as well as current medications and health issues.

ahm was established over 40 years ago and is best known as being a provider of health insurance. ahm is also a provider of life, travel and pet insurance. ahm life insurance is underwritten by Swiss Re.