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.
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.
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.
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.
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.
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
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
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.
It makes sense that an option exists to realise value from their life insurance when it is no longer needed or affordable.
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
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Or, if you have a question, get in touch with our team.