Quick Calc
Policy Co-Ownership Eligibility Check?
Committed To Cancelling
For Life Insurance Only
Aged 55+
Policy Expiry Age 99+
Life Insurance Cover

A potential option for people to maintain valuable life insurance cover


Co-owning may protect your beneficiaries' financial commitments

Quick Calc
Quick Calc
Life Insurance Cover
Life Insurance Cover
previous arrow
next arrow

How it works – short video

What does iExtend do?

The iExtend offer is only available through financial advisers who play a central role in advising their policyholder clients whether the iExtend co-ownership arrangement is suitable for them.

To be eligible for the iExtend offer:


A policyholder, first and foremost has decided to cancel or reduce their cover on their Policy; and 


The policyholder’s financial adviser has recommended that the policyholder consider entering into a Co-Ownership Deed with iExtend; and


iExtend has conducted an eligibility health assessment, which includes the risk assessment of changes in the policyholder’s health compared to when the policy was originally taken out.


The policy must be a fully underwritten long-term yearly renewable Term life cover, click here to Find out more about which policies may qualify 

If the policy is eligible for co-ownership, iExtend will make an offer to the policyholder.

Making the offer doesn’t constitute a view by iExtend that you should take the offer to enter the co-ownership agreement. It simply means iExtend is open to entering into the arrangement, if you consider that is suitable for you. iExtend cannot (and will not) make a recommendation for you.

iExtend Disclaimer

iExtend is an authorised representative of Ingenious Brokers Pty Ltd. Any advice given is of a general nature only.

Why iExtend

The problem

For different personal reasons, policyholders, who have been paying life cover over many years, may decide to cancel their Life insurance cover.

Instead of cancelling, co-own

iExtend offers an 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

If the policy is eligible for co-ownership, regardless of policy size, we are committed to providing a high-quality experience for all.

For Advisers

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

We support advisers by helping their clients with a co-ownership model for Life insurance policies. This model lets policyholders stop paying premiums while keeping some claim benefits. It’s important to note that we don’t provide financial advice or offer a specific product. Instead, we offer a co-ownership arrangement to eligible policyholders who have decided to cancel their Life insurance. Our goal is to help Australians retain the value of their Life insurance asset.

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.


Quick Calculation


Health Information



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.

The cancellation process

iExtend provides an option for those who have committed to cancelling some or all of their life cover and walking away from their policy. The journey only starts when your client has committed to cancel.

Indicative percentage payout scenario

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

  • You have the option to retain any portion of the policy (including TPD and Trauma) by paying your share of the premium on that portion.
  • Based on a sliding scale, you will receive a percentage of any claim including indexation, if applicable.
  • 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).

How it works?

iExtend acquires a portion of your eligible life insurance policy from you and shares the ownership of some or all of the policy with you. This is called ‘co-ownership’.
In return for sharing a portion of your policy, iExtend pays all future premiums on the co-owned portion of the policy.
If the life insured passes away and the insurer accepts the claim, a pre-agreed percentage of the claim benefit is paid to your ‘nominated’ beneficiaries or your estate, and iExtend receives the balance.

The pre-agreed percentage is based on how long the policy has been co-owned with iExtend.

*If there is indexation on the policy, the claims pay-out increases.

What type of policies qualify?

Policy Ownership

In order to enter into a co-ownership arrangement with iExtend, a policy must be owned by an individual in their own name or in a structure that allows direct transfer to a custodian*.

Insurance may be owned within different structures
An individual has the right to transfer policy ownership.
A business owned policy can be transferred to another person with arrangement of the company director(s).
An SMSF policy can be transferred to an individual or directly to the custodian with the agreement of the trustee(s) of that SMSF (either individual or corporate trustee).
If a policy is owned under a group arrangement e.g. an industry superfund, it cannot be transferred to another person because it is owned by a separate trustee.
Perpetual Corporate Trust Limited, iExtend’s Custodian, will be the registered legal titleholder and the named party with the life company and will act on instructions from iExtend to distribute the proportionate proceeds of any successful claim to your client and iExtend.

The problem

Policy cancellation means that life cover is forfeited with no residual benefit to the policyholders, often after decades of premium payments. 

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.

The cancellation problem

Cancelling your policy means:

  • You’ve lost all the benefit of previously paid premiums.
  • No benefits are payable to your beneficiaries or estate when you pass away.

If you have decided to cancel your life insurance, iExtend may be an option.

Instead of cancelling, co-own

  • iExtend pays all premiums on co-owned life cover while future claim benefits are shared with your beneficiaries. The claim split is based on how long iExtend has been paying the premiums.
  • The only premiums a policyholder will pay is for cover they have chosen to retain rather than cancel.
  • The policyholder’s share of the claim benefit is higher in the first few years, reducing as iExtend increases its premium payments over time.
  • iExtend will assume the cost of future increasing premiums risk that may extend for many years.

How iExtend works

  • Qualification for an iExtend co-ownership agreement relies on several criteria including:
    • Policy terms and conditions
    • Premiums payable relative to the sum insured; and
    • The changed health circumstances of the life insured.
  • iExtend will meet all premium payments on the co-owned portion of the policy with the policyholder paying the premiums on any retained portion.
  • For policies that meet its criteria, iExtend may propose a co-ownership arrangement. A policyholder can elect to co-own the entire cover with iExtend or retain a portion of the cover and co-own the residual with iExtend.
  • Under an iExtend arrangement, ownership of the policy is transferred to a 3rd party custodian. Both iExtend and the original policyholder have an absolute contractually binding legal share in the ongoing beneficial ownership of the policy as per the co-ownership deed. If a claim is successfully made, the claim benefits are paid to the custodian who will share the benefits between iExtend and the original policyholder as per the co-ownership deed
  • When a claim is made, the policyholder receives 100% of the cover they are paying for as well as a share of the cover iExtend has paid for on a sliding scale  depending on how long iExtend has been paying premiums.
  • iExtend has the discretion to cancel its interest in any policy at any time in the future. If this occurs, iExtend guarantees to offer to transfer the ownership of the policy (with full rights) back to the original owner without requiring any form of compensation for all premiums paid by iExtend to that point.

Process experience

  • As co-owner, iExtend takes on the future increasing premium risk of your insurance policy. As a result, we need to understand your changing health situation and capture this information in the most efficient and non-intrusive way possible. All health and personal data collection is carried out in line with government regulations and our privacy policy
  • iExtend provides an intuitive, end-to-end service for financial advisers. We use digital technologies for  a compliant registration, self-service, pre-assessment and policy communication. The result – a faster, easier high-tech service backed by high-touch personal support.
  • iExtend has designed some practical options to fast-track health information and an innovative expert medical opinion panel. iExtend has partnered with an independent market-leading medical services platform provider to help manage all health information requests.
  • We assess your policy and health using plain English, behaviourally informed questions designed to capture the key information required with minimal effort from the policyholder. We simplify the application process including offering real-time calculators to help manage the onboarding journey.
  • The policy will be assessed against iExtend’s stringent investment criteria. If the policy has met those criteria, we quickly have it reviewed by our Policy Acquisition Committee for final approval.

Best interest

  • iExtend places advisers at the heart of the process by providing an alternative for their clients who have decided to cancel their Life cover.
  • Using our self-service digital pre-assessment tools, you get to test if any of your policyholders intending to cancel cover are potentially eligible for an iExtend Co-Ownership Arrangement.
  • We provide an electronic, auditable client trail and printable outcome for your records.


  • Decades of Life insurance experience allows us to understand that a person living with chronic illness should only ever need to answer 3 to 5 questions within our pre-assessment tool about their changed health circumstances.
  • Efficient, best practice risk and compliance processes allows us to be sustainable for the long-term.
  • Contemporary ‘Digital First’ experience – innovative ‘self-service’ pre-assessment tools provides real-time, evidenced based decisions enabling ‘better’ outcomes faster.


  • Commitment to engaging and applying the highest level of corporate and ethical standards.
  • iExtend is focused on ESG and the impact of our business policies.
  • Governance from the board by way of various specialist committees.
  • Building an ecosystem of world class strategic partners that excel in what they do, allowing iExtend to evolve quickly to a mature organisation.
  • Custodian stewardship – administering policies for iExtend and policyowners.
  • Efficient and transparent claims advocacy services by an AFSL accredited provider.

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?

    • Realising time was quickly running out, the iExtend Distribution Manager, who also received the indicative email in real-time, contacted the adviser within half an hour to discuss the best approach to fast track the eligibility process. The privacy and consent authorities were completed over the phone and signatures obtained by DocuSign
    • Next, John provided more information via a signature free Tele-health Diabetic and Heart Questionnaire, over the phone, this was entered into the unique ID pre-assessment .
    • The iExtend Risk Team received an automatic request to finalise the risk assessment and quickly requests  a copy of health records and within 10 days was able to finalise the health risk assessment

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.

We acknowledge the Gadigal of the Eora Nation, the traditional owners and custodians of the land on which we work. We pay our respects to Elders past, present and emerging. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who work and live on this land.

Disclaimer: iExtend Holdings Company Pty Ltd ABN 88 651 044 503 is an authorised representative (Authorised Representative Number 1306639) of Ingenious Brokers Pty Ltd ABN 53 656 735 956 AFSL 538868. Please read our Financial Services Guide. Any advice given by us is general in nature only. Please consider your financial situation, objectives, and needs before making any decision on whether to use our financial services, as any advice that we may provide does not take these into account. By using our website, you agree to our Privacy Policy and website Terms & Conditions.

@ Copyright 2024 iExtend Holdings Company Pty Ltd. All rights reserved. Hosted by 1Cyber.