You talked, we listened. To complement our current Trauma Cover and to better meet the changing needs of your customers, we’ve launched a new Moderate Trauma Cover option under Assurance Extra.
Moderate Trauma Cover offers a more affordable alternative to Trauma Cover. It provides protection for the same Full Trauma Benefit conditions as Trauma Cover but requires a higher level of severity to be met on 11 of the more common conditions to be eligible to claim.
Customers have the option to take Moderate Trauma on its own or mix and match their cover level across both Trauma and Moderate Trauma Covers - giving them more flexibility to choose a cover structure that meets their needs and budget. They’ll also have the option to take out Continuous Trauma on both covers.
Find out more about our Trauma Cover options
Alongside the release of Moderate Trauma Cover, we’re pleased to share the following enhancements to our Assurance Extra Trauma Covers and Assurance Extra Business Life, Trauma, Complete Disablement and Monthly Disability Covers.
The following enhancements apply to Assurance Extra policy holders*
| Benefit | Details |
| Newborn Children's Benefit | To support families in their time of need we’ve added an inbuilt Newborn Children’s Benefit for Assurance Extra Trauma and Moderate Trauma Cover customers. The benefit provides up to $50,000 to help cover treatment or any other costs if a biological child is born with one of the following conditions.
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| Complimentary Children's Benefit conversion enhancement | We’ve enhanced the Complimentary Children’s Benefit conversion option under Assurance Extra Trauma Cover to allow conversion to a standalone cover if the child leaves home prior to the age of 24. Policy owners who have had an eligible child move out of home after 26 September 2024 and before their 24th birthday can also apply to have their cover converted retrospectively until 10 April 2026. |
| Moderate Trauma Conversion Option | To maintain affordability and support customers to retain their cover we’ve introduced a new Moderate Trauma Conversion Option under Assurance Extra Trauma Cover. This new option allows customers to convert some or all of their Trauma Cover sum insured to Moderate Trauma Cover at any time without additional underwriting. |
These new options are available to Assurance Extra Business policy holders*
| Option | Details |
| Level to Age 65 and Age 70 Premium Review Periods for Lump Sum Covers | To provide businesses with more flexibility and assurance of their insurance costs aligned with key life stages, we’ve introduced to Age 65 and to Age 70 level premium review periods under Assurance Extra Business Life Cover (guaranteed), Trauma Cover (non-guaranteed) and Complete Disablement Cover (non-guaranteed). |
| Two-year payment term for Replacement Labour Cover | To provide businesses with extended financial support to cover replacement labour costs and ensure greater stability during prolonged employee absence, we’ve extended our payment term options to include a two-year payment term for Replacement Labour under our Assurance Extra Business Monthly Disability and Start-up Monthly Disability Covers. |
Download the policy enhancement brochure for more information
*The enhancements came into effect on 10 April 2025 and apply to events that occur on or after that date. They do not apply if the relevant illness, injury or condition showed signs or symptoms, or was diagnosed before this date.
The product enhancements apply to relevant covers and options for Chubb Life Assurance Extra policies issued on or after 1 May 2004 subject to the terms and conditions of your applicable Policy Enhancement Benefit.
The product enhancements also apply to the relevant covers and options for Assurance Extra Business policies regardless of the date your policy was issued.
New cover options will not automatically apply to your cover. We recommend speaking to your Adviser before applying for any new cover or options.
Customers should speak to their Adviser if they’re looking to convert any Trauma Cover to Moderate Trauma Cover.
