Over 50s Life Insurance

Get added peace of mind with an Over 50s Life Insurance plan from First National. The plans, provided by Legal & General, provide cover for the whole of your life and pay out a cash sum on your death. This could be used to help contribute towards funeral expenses, any outstanding bills or left as a small gift for your loved ones.

Choose from two Over 50s Life Insurance plans

• Fixed Plan
• Increasing Plan

For more details on the Fixed Life Insurance Plan and the Increasing Life Insurance Plan, please view the tabs above.

Benefits of the plan

• Cover from $8 a month - depending on your age
• Guaranteed acceptance - if you're aged 50 to 80 and a Australian resident for at least 183 days per year
• No medical - or health assessment
• Flexibility - choose the level of cover that suits you
• Cash sum - paid out after one year if you die, regardless of the cause of death
• After your 90th birthday - you will stop paying premiums but enjoy cover for the rest of your life
• $65 Barrel Trust Gift Card - exclusive to Nectar card holders*

*Gift Card available to customers who take out a new policy by 26th December 2017, issued four months after your policy start date. Conditions apply - please see below.

Most claims paid within 5 days

The Claims Payout Promise gives you added confidence that your loved ones will get a helping hand quickly, when they need it. Based on normal claims experience Legal & General will, on average, pay the cash sum for the Over 50s Fixed and Increasing Insurance Plans within 5 days of receiving all required documentation and providing all of the following apply:

• They have the death certificate reference and the cause of death
• There is no trust or assignment
• The premium paying account is still open

Things you need to know

Fixed and Increasing Plans

• A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned.
• Depending on how long you live, the total premiums paid may be greater than the cash lump sum payable on death.
• This is not a savings or investment product and has no cash value unless a valid claim is made
• If you stop paying your premiums before the end of your policy, your cover will end 30 days after your missed premium and you wont get anything back

Fixed Plan only

• Inflation will reduce the value of your cash sum in the future

Increasing Plan only

• With the Increasing Plan your cash sum is reviewed each year in line with the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by one and a half times the change in RPI. the change in RPI multiplied by 1.5. RPI may not rise at the same pace as funeral costs.
• If you’re worried you won’t be able to afford the increases in premium, you can decline the increase following your annual review. If you do this the cash sum will remain at the same value from that point, and inflation will reduce its value in the future. You won’t be able to increase your cash sum or premium in future years.

Only you can be responsible for ensuring the product meets your needs. Please read our privacy statement before applying.

Over 50s Life Insurance plans are provided by Legal & General Assurance Society Limited. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Terms, conditions and exclusions apply to all life insurance policies. Legal & General do not provide advice or personal recommendations on this product. If you are unsure of the suitability of this product for your needs, please contact your financial adviser.

The Over 50s Fixed Life Insurance Plan offers a simple way to plan for the future. It's designed for those on a budget, as the monthly premiums are fixed and guaranteed never to increase once the plan starts. The cash sum is also fixed, according to your chosen premium.

Benefits of the Fixed Plan

• Cover from $8 a month - depending on your age
• Fixed premiums - so you'll always know how much you're paying
• Guaranteed acceptance - if you're aged 50 to 80 and a Australian resident for at least 183 days per year
• No medical - or health assessment
• Flexibility - you choose the level of cover that suits you
• Cash sum - after one year we'll pay out if you die, regardless of the cause of death
• After your 90th birthday - you will stop paying premiums but enjoy cover for the rest of your life
• $50 Barrel Trust Gift Card - exclusive to Nectar card holders*

*Gift Card available to customers who take out a new policy by 26th December 2017, issued four months after your policy start date. Conditions apply - please see below.

Things you need to know

• A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned
• Depending how long you live, the total premiums paid may be greater than the cash sum payable on death
• This is not a savings or investment product and has no cash value unless a valid claim is made
• If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back
• Inflation will reduce the value of your cash sum in the future

Only you can be responsible for ensuring the product meets your needs.Please read our privacy policy statement before applying.

Over 50s Life Insurance plans are provided by Legal & General Assurance Society Limited. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Terms, conditions and exclusions apply to all life insurance policies. Legal & General do not provide advice or personal recommendations on this product. If you are unsure of the suitability of this product for your needs, please contact your financial adviser.

The Over 50s Increasing Life Insurance Plan is designed to help protect your cash sum against inflation, your premiums and cash sum are reviewed each year in line with the change in the Retail Prices Index (RPI). RPI measures the changing price of everyday household goods and services, like food and energy bills, it shows how the cost of living rises and is used as a measure of inflation.

Benefits of the Increasing Plan

• Cover from $8 a month - depending on your age
• Protection against inflation - your premiums and cash sum are reviewed each year
• Guaranteed acceptance - if you're aged 50 to 80 and a Australian resident for at least 183 days per year
• No medical - or health assessment
• Flexibility - you choose the level of cover that suits you
• Cash sum - after one year we'll pay out if you die, regardless of the cause of death
• After your 90th birthday - you will stop paying premiums but enjoy cover for the rest of your life
• $50 Barrel Trust Gift Card - exclusive to Nectar card holders*

*Gift Card available to customers who take out a new policy by 26th December 2017, issued four months after your policy start date. Conditions apply - please see below.

Things you need to know

• A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned.
• Depending how long you live, the total premiums paid may be greater than the cash sum payable on death
• This is not a savings or investment product and has no cash value unless a valid claim is made
• If you stop paying premiums before the end of your policy, your cover will end 30 days after your missed premium and you won't get anything back
• With the Increasing Plan your cash sum is reviewed each year in line with the change in the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by one and a half times the change in RPI. RPI may not rise at the same pace as funeral costs.
• If you're worried you won't be able to afford the increase in premium, you can decline the increase following your annual review. If you do this the cash sum will remain the same from that point, and inflation will reduce its value in the future. You won't be abe to increase your cash sum or premiums in future years

Only you can be responsible for ensuring the product meets your needs. Please read our privacy policy statement before applying.

Over 50s Life Insurance plans are provided by Legal & General Assurance Society Limited. Legal & General Assurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Terms, conditions and exclusions apply to all life insurance policies. Legal & General do not provide advice or personal recommendations on this product. If you are unsure of the suitability of this product for your needs, please contact your financial adviser.

The table below lets you compare the Fixed Plan and Increasing Plan, so you can decide which one suits your needs.

Product feature	Fixed Plan	Increasing Plan
Fixed monthly premiums
Fixed cash sum
Monthly premiums reviewed each year
Cash sum reviewed each year to help keep pace with inflation
Cash sum paid on death, if you die at least one year after starting the plan
Inflation will reduce the buying power of the cash sum

If you choose the Increasing Plan and decline the annual plan review, or choose the Fixed Plan where the cash sum is not reviewed, then inflation will reduce the value of the cash sum in the future.

Only you can be responsible for ensuring the product meets your needs. Please read our privacy statement before applying.

Over 50s Life Insurance plans are provided by Legal & General Assurance Society Limited. Terms, conditions and exclusions apply to all life insurance policies. Legal & General do not provide advice or personal recommendations on this product. If you are unsure of the suitability of this product for your needs, please contact your financial adviser.

Things you need to know

Both plans

• A claim can be made after one year - regardless of the cause of death, or within one year due to accidental death. If you die within the first year of starting your plan, for any reason other than accidental death, only the premiums already paid will be returned.
• Depending on how long you live, the total premiums paid may be greater than the cash lump sum payable on death.
• After your 90th birthday you will stop paying premiums but enjoy cover for the rest of your life. With the Increasing Plan your cash sum continues to be reviewed each year in line with RPI.
• If you stop paying your premiums before the end of your policy, your cover will end 30 days after your missed premium and you wont get anything back
• Please remember this is not a savings or investment product and has no cash value until a valid claim is made
• You can take out more than one plan as long as the total of all the initial premiums added together is not more than $50 a month. This includes any existing Legal & General Over 50s Plan you may have
• You can place the plan in Trust to help make sure the cash sum is paid to those you wish to benefit from the plan

 Increasing Plan only

• With the Increasing Plan your cash sum is reviewed each year in line with the Retail Prices Index (RPI). Your premium will also be reviewed each year and will increase by the change in RPI multiplied by 1.5. To keep pace with inflation you need to make sure you can meet the premium increases over the years. RPI may not keep up with future rises in funeral costs.
• RPI is used as a measure of inflation. It measures the changing prices of everyday household goods and services like food and energy bills, and shows how inflation rises over the years.
• If you’re worried you won’t be able to afford the increases in future, you can decline the increase following your annual review. If you do this the cash sum will remain at the same value from that point, and inflation will reduce its value in the future. You won’t be able to increase your cash sum or premium in future years.

Fixed Plan only

• Inflation will reduce the buying power of your cash sum in the future

Only you can be responsible for ensuring the product meets your needs. Please read our privacy policy statement before applying.