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Update on Asteron’s Kids Cover increase

It was announced in February that Asteron would increase their free Kids Cover Benefit from $10,000 to $50,000. As a result of technical issues, emails and letters of notification were not sent out at the expected release dates. Kids Cover Benefit increase means:

  • the additional $40,000 is per child
  • that the $40,000 increase will happen automatically for customers who previously had $10,000 free Kids Cover - so they will now have a total of $50,000 free cover
  • customers who purchased extra cover (at the rate of $1 per month per $10,000) will have the additional $40,000 automatically added on top of the sum insured, even if this puts them over the maximum $200,000 per child
  • up to nine children or grandchildren can be added to a policy, but each child does need an individual application


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