How It Works

Have you committed to cancelling your Life insurance? Then iExtend might be right for you. Imagine retaining your policy for security, but with no more premiums to pay.

With the iExtend Co-Ownership proposal, you retain a share of your policy, with iExtend paying all the premiums on the co-owned portion of that policy. iExtend allows Life insurance policyholders to receive benefits from policies which have become too expensive to maintain.

Instead of cancelling a policy you’ve invested so much in, iExtend ‘shares’ ownership of the policy with you – which means:

  • You stay covered (albeit at a lower level); and
  • You have no more premiums to pay.

To date, at a time when premiums are rising and the decision to renew your cover is needed, there have only been “four options” for Life insurance policyholders; now there is iExtend.

In short, you will only pay the premiums on the amount you fully retain with no more premiums paid on the amount co-owned by iExtend.

iExtend does not provide advice of any kind; the information provided is not intended to provide a substitute for comprehensive or specific professional advice. You should not act in reliance upon any information without first obtaining professional, independent advice relevant to your individual circumstances.

Why iExtend


The problem

For different personal reasons, policyholders, who have been paying life cover over many years, may find that they need to cancel their cover when it is needed the most


Instead of cancelling, co-own

iExtend offers a powerful alternative to life insurance policyholders who have committed to cancelling or reducing their life cover.


How iExtend works

iExtend is not an alternative to policyholders simply trying to decide whether to retain their cover. It is for those committed to cancelling or reducing their life cover.


Process experience

Unfortunately, we cannot help everyone. Our focus is on helping those who stand to lose the most under the cancellation option. However, regardless of policy size, we are committed to providing a high-quality experience for all.

For Advisers

iExtend works with policyholders through their trusted adviser – that’s you!

We’re here to help advisers help their clients, by offering a co-ownership model on Life insurance policies, where policyholders no longer need to pay premiums but can retain some of the benefits of a claim. It’s worth knowing that we don’t give financial advice and we don’t offer a product – we simply offer a Co-Ownership Arrangement to certain clients that have already committed to cancelling their Life insurance.

There’s no better feeling for advisers than meeting a client who has committed to cancelling their insurance and then showing them a way to keep some of their benefits. Life insurance is valuable, so let’s help more Australians retain it.


Quick Registration
Access Portal


Best interest

iExtend provides the opportunity for advisers to fulfil with their ‘best interest’ obligations to their clients.



We pre-qualify and assess your client’s policy and health using intuitive, plain English questions.



We are committed to fulfilling our responsibilities to all our stakeholders.

Client Onboarding Journey

If you need assistance, please get in touch with us today. We communicate clearly and in a language you can understand. Our dedicated team will devote their full attention to your case.


1. Contact & Licensee Information
2. Agree to T&C’s
3. Access to Adviser / Client Portal

Quick Calculation
Quick Calculation

1. Self-Directed 3Q’s
2. Real-Time Indicative Decisions
3. Pre-Qualify / Ineligible


1. Privacy / Consent
2. Policy & Health Information
3. Qualify / May Qualify / Doesn’t Qualify

Health Information
Health Information

1. Tele-Health Questionnaire
2. Medical Records


1. Policyholder Co-Ownership Agreements
2. Policy Transfer Confirmation


The iExtend offering presents a meaningful extra choice and is wildly innovative. It makes sense that an option exists to realise value from their life insurance when it is no longer needed or affordable.
Matthew Christensen

Advisor at Hill Capital


It makes sense that an option exists to realise value from their life insurance when it is no longer needed or affordable.
Damien Jones

Australian Financial Risk Management


The iExtend offer uniquely enables some death insurance cover to be retained for years longer than would otherwise be affordable. If you’re planning to cancel or to reduce your term life cover over time as premiums become unaffordable I’d certainly recommend you have a chat with the people at iExtend.

We're here to help

Start your quick and easy online registration today.
Or, if you have a question, get in touch with our team.

Your four options

iExtend four options graph

Your advantage with iExtend

Potential iExtend Advantage To Canceling Your $1,00,000 Life Cover

Assumption: Starting sum insured on the co-owned portion is $1,000,000 and the policyholder retains all indexation.
Benefits: All premiums on the portion not retained but co-owned with iExtend will be paid for by iExtend. You pay no more premiums on this portion and receive the claims benefits above.
Disclaimer: This chart is of a general and educational nature only and does not take into account an individual’s particular circumstances (whether financial, medical or otherwise).


A Manifesto

As the proverb says: “If you want to go fast, go alone. If you want to go far, go together”.
‘Together’ is the key.

We believe that Life insurance is about collaboration

Collaborate with the policyholder, who bought the policy all those years ago as an act of prudence and kindness;

Collaborate with the adviser who helped clients navigate the tough choices, always looking out for their best interests; and

Collaborate with the insurer who agreed to always be there – no matter what happens.

We believe that great collaborations need to continue

Collaborating on Life insurance is always a smart decision and smart decisions need to be rewarded. However, in too many cases, the collaboration ends too soon. Instead of the investment paying off, value vanishes when the policy is cancelled, or cover reduced.

Value is greatest when it is shared. That’s why iExtend is motivated to retain value when it would otherwise be lost.

By bringing the resources to step in and help those who need it most, Life insurance collaborations can be sustained long into the future.

We are iExtend

Our focus is on giving back to the people who need our offering and helping the industry provide a renewed positive outcome and longevity to Life insurance.

We believe collaborations are the key to making Life insurance last. Our ultimate reward will come from our commitment to our collaborators.

How iExtend may help

iExtend does not provide advice of any kind; the information provided is not intended to be a substitute for comprehensive or specific professional advice. You should not act in reliance upon any information without first obtaining professional, independent advice relevant to your individual circumstances.

Share the cost, share the value

Cancelling your life policy saves you the costs of further premiums but it throws away the value of all past premium payments and forfeits any potential future benefits. Sharing ownership with iExtend means you retain a share of your policy and its benefits with iExtend paying the future premiums on the co-owned portion of that policy.

Simple, flexible service

Extending your insurance protection shouldn’t be a hassle.

iExtend is here to help policyholders and their advisers finalise the acquisition process. We use digital technologies for registration, self-service, pre-assessment tools and policy communication. The result is a faster, easier hi-tech service, backed by high-touch personal support when required.

Easy, cost-effective set-up

Working quickly and collaboratively is our mantra; we endeavour to find better ways to complete the process. To make keeping your cover easier, we strive to fast-track the initial pre-assessment of a policy. There are no administration or establishment fees charged to you or your adviser.

We have you protected

iExtend pays all premiums on co-owned life cover while future claim benefits are shared with the original policy owner based on how long iExtend has been paying the premiums.

In later life, when incomes can flatline or fall, policy retention can become unaffordable. For most, irrespective of their short-term claim prospects, eventual cancellation, with the loss of all accrued benefits, becomes inevitable.

Policy cancellation means that life cover is forfeited with no residual benefit to the policyholders, often after decades of premium payments. The result can be financially devastating for families left behind.

Partially cancelling your cover may provide short term relief, but with premiums rising sharply in the later stages of life, this relief is often short lived with nothing to show in return for the additional year’s premiums if the policy is eventually cancelled.

This situation can be especially difficult for aging policyholders with deteriorating health for whom, as much as they know their cover would eventually pay a substantial amount, maintaining premiums is very difficult.

The cancellation problem

Cancelling your policy means:

If you find yourself with this problem and have decided to cancel your life insurance, iExtend may be able to help.

5-Steps Onboarding Explained

1. Registration:

A two-step online initiated process, followed by an introduction to the compliance friendly, educational learning pathway FAQs so you can read and listen to our thought leaders on how the proposition was developed and some financial projection illustrations.

2.  Quick Calc - Vetting a policy

The Quick Calc gives you the opportunity to do multiple quotes to test potential transfer eligibility 24/7 with the ability to delete or save the outcome for up to 30 days. This calc supports advisers with their ‘best interest’ duties by providing an option to save and store the indicative decision with their client’s compliance records.

3. Pre-Assessment and Assessment- Qualifying a Policy

The pre-assessment (application) builds on the Quick Calc decision  with two more flexible self-service  options:

Adviser Tip (Step 3)- Tele  Health Questionnaire

To speed up the pre-assessment qualification for those clients with a real-time ‘Qualify’ or ‘Borderline’ indication from the Quick Calc or  Pre-assessment Calc, we recommend downloading the iExtend Tele-health condition-specific or general health  questionnaire located in our Resources folder.  The signature free short questionnaires can make all the difference and help to fast track the pre-assessment finalisation, providing more information from the client on a specific health condition and prior to the requesting health information as set out in step 4 of the journey.

4. Health Information – Getting Policy Holders Approved Faster

This pre-assessment phase moves to the  final risk assessment phase in this step. iExtend has designed some practical options to support fast tracking of health information or requesting an independent specialist opinion. This alleviates the need to ask your clients to request medical records and reduces administration burden in chasing up medical reports.

iExtend has partnered with a market leading medical services platform provider to help manage all health information requests, including:

iExtend has built a Virtual Specialist Health Opinion Panel Network. This independent Panel allows iExtend to access imminent specialists across all fields of medicine and health sciences to obtain expert opinions within days.

5. Finalisation

Using all necessary policy, premium and health information garnered through the on-boarding process explained in steps 1 to 4 and ensuring that all necessary consent authorities and approvals have been obtained, the policy will be assessed against iExtend’s stringent investment criteria.
If the policy is deemed to have met those criteria, it will be reviewed by our Policy Acquisition Committee for final approval. If final approval is given, a Co-Ownership Deed will be issued to the adviser for agreement and execution by the client. Our Custodian will then maintain ownership of the policy in throughout the life of the Co-Ownership Deed.

Policyholder case study - Part Co-Ownership with iExtend

*Real name withheld

John*, aged 65, had a $800,000 Life policy taken out in 2002,  he decided to reduce his cover significantly as he could only afford to retain $100,000. His adviser offered the option prior to cancellation of doing a complementary iExtend online pre-assessment before reducing John’s cover. The policy was in pre-lapse arrears by one-month and was set to lapse fully within the next 3 to 4 weeks.

Q. How had John’s health changed since he took out the policy?
 John developed type 1 insulin dependent diabetes in 2012 and in 2020, he experienced a sudden heart attack that required a triple coronary artery bypass. John has recovered well and is taking medication to control his blood pressure, cholesterol, and diabetes.

Q. Was John eligible for the iExtend co-ownership offer?
The adviser, having a good understanding of John’s changed health over the last 2 years, proceeded to an online Quick Calc pre-assessment by inputting current sum insured, premium and selecting the option to retain $100,000. John was able to answer the intuitive 3 general health questions, which took him 2 to  3 minutes. The adviser received a real-time ‘indicative’ pre-assessment and unique reference  ID email confirmation that John ‘may qualify.’

Q. What happened next?

Adviser case study - Full Co-ownership with iExtend

Michael  aged 66 has a $2 million insurance policy since 2015. Unfortunately, due to his ongoing chronic health conditions, he had to retire early in 2021. With rising premiums becoming unaffordable, he has decided to cancel his policy, even though with his changed health, he sees the value of keeping his cover.

Q. How has Michael’s health changed?
Michael is overweight 5 foot 7 inches and 122 kgs. In 2017, he was diagnosed with severe sleep apnoea and in 2019, he developed high blood pressure and diagnosed type 2 diabetes. Michael suffered a mild stroke in 2021 with mild impact to his day-to-day mobility,  and as a precaution he has stopped driving for 12 months.
Michael’s adviser prior to cancellation decides to check if he might be eligible for an iExtend offer. He answers the 3 questions and policy information on behalf of his Michael into the iExtend Quick Calc, that indicated Michael ‘May Qualify’ .  From there, the adviser continued to pre-assessment which confirmed eligibility and received a real-time email confirmation.

Q. How was Michael able to get a pre-assessment so quickly?
Due to the urgency with Michael’s policy being overdue by 6 weeks, time was of the essence. Michael signed the privacy and medical consent forms. Fortunately, Michael had a copy of this hospital records from 2021 and blood sugar levels. With this information, iExtend Risk Team were able to finalise Co-Ownership eligibility without needing to obtain medical reports. An offer was made to Michael within 5 days to co-own his cover with iExtend.