Company History

It was 179 years ago when the very first life insurance policy was written in Australia. It was not long after when the first claim was paid out by the same company but it has not been disclosed whether it was the same policy holder or not. What we do know however is that the very first life insurance policy was written by Asteron Life Insurance. Asteron Life Insurance has been writing policies and paying claims in Australia ever since. Fast forward to 2008 and the same company was found to have paid out more than $369 million in that one year to a total of 6,200 policy holders. That figure equates with paying out $1 million a day to Australian families when they needed help the most.

Today Asteron Life Insurance is part of the Suncorp Group that covers more than nine million policy holders and has assets worth more than $93 billion. Other companies that now come under the Suncorp umbrella include APIA (Australian Pensioners Insurance Agency), Tyndall, Vero, AAMI, Shannons and GIO, making Suncorp a leader in Australian and New Zealand banking, investment, insurance and superannuation matters. Suncorp employs around 16,000 people and is a top ASX listed business.

Asteron Life Insurance is a specialist financial services organisation providing life insurance, risk insurance management, financial planning and trustee services for the Suncorp Group throughout Australia and New Zealand.

Asteron’s Team of Expert Life Insurance Advisors

It has an executive team of its own consisting of industry leaders in life insurance, financial services and management. All have a wealth of experience in the industry as well as a solid record in development and delivery of innovative life insurance products and services. Asteron Life Insurance, with its team of life insurance professionals scattered throughout Australia, have positioned themselves well as one of Australia’s leading insurers. This fact being verified by the company receiving a string of industry awards. It received the AFR Smart Investor Magazine 2010 ‘SMILES’ (Smart Investor League of Exceptional Service) Award, after being voted Australia’s Top Risk Insurance Provider for customer service and value for money. These awards were granted after a readers survey held in the magazine resulted in thousands of readers various service providers on a range of factors which included such things as:

• Product features.
• Level of fees and charges.
• Customer service quality.
• Value for money.

Awards

In November 2010 Asteron Life Insurance was named CoreData 2010 Life Company of the Year for the second year in a row. This award was based on a survey taken from 840 advisers, financial planners and risk insurance specialists. The CoreData study focused on the strengths and weaknesses of life risk manufacturers against each other as well as measuring their attitudes and commitments to advisers and planners.

On making the award, Kristen Paech, the head of Advice and Superannuation Research at CoreData said Asteron received the award for the second time in two years because if its consistency across all service levels measured in the research, particularly new business submissions, overall end to end business processing, post sale administration, call centres and communications. The CoreData study had looked at risk insurance providers who offered products such as income protection, trauma, term life, total permanent disablement and business insurance.

Compare Life Insurance from Income Protection

• Income Protection Insurance: Recieve up to 80% of your pre-tax annual salary in the event of serious illness or injury. Cover mortgage or rent payments, car repayments and everyday bills as your health improves.
• Trauma Insurance: Be relieved of financial pressure so you can concentrate on getting beter if you are suffering from a serious medical condition such as cancer, heart attach, stroke or an accident.
• TPD Insurance: TPD insurance provides you with a financial back-up in the event of you suffering total an permanent disablement. Cover home modifications, long-term medical care and expenses, pay off debts and recieve ongoing funding for your family
• Life Insurnace (Death Cover): Recieve the peace of mind knowing that your family will be financially looked after in the unexpected event of your death. Your dependents will recieve a lump-sum payment if you die or are diganosed as terminally ill.
• Business Expenses Insurance: Recieve monthly reimbursement to help cover the expenses of running your own business. Business Expenses Insurance can help you pay off office rent, leases on cars, equipment or machinery, utility bills, salaries among other common expenses of owning a business.

Asteron Company Culture

Asteron life Insurance is different than many other life insurance providers in that it is a specialist life insurer focused on independent financial advisors. The company’s policy is to offer high quality sustainable products with features made to fit in with the needs of the customer’s lifestyle. It places much emphasis on fully understanding everything concerning its policy holders health relationship. This is what encouraged Asteron to launch its Asteron Life! program so it could assist with the present and future health and wellbeing of its policy holders. Recent improvements in its underwriting requirements, as well as ongoing improvements to the Life! heal;h and wellbeing program, show the company’s determination to focus on aligning its business to support its independent financial advisers.

As we can’t rest easy with the assumption that traumatic or tragic events will only happen to somebody else, it is only sensible that we should protect those we love by insuring ourselves against such an event occurring. Although the emotional loss can not be insured against the financial loss can be. We are failing ourselves, let alone our loved ones, if we don’t take the necessary action to minimise the financial disaster that would result as a result of contracting a serious illness or disablement, let alone death. Asteron Life Insurance can help you with affordable life insurance options that will guarantee your family’s financial future should something happen to you.

Asteron Life Insurance is an important part of Suncorp’s total insurance and financial contribution to the Australian and New Zealand public. From its humble beginning 179 years ago Asteron life Insurance has proven the importance life insurance has in the Australian community.