But they also bring new financial responsibilities. To keep your insurance aligned with these changes, many personal insurance policies offer Special Event Increases. This feature lets you adjust your cover to meet new needs, often without additional health checks. Here’s a closer look at how they work, when to use them, and what to consider if you’re thinking about a cover increase after a significant life event.
What are special event increases?
Special Event Increases are available on many life, trauma, and income protection policies, allowing you to increase your cover after major life events. They help ensure your policy remains sufficient as your responsibilities grow. For instance, if you buy a new home, a special event increase lets you adjust your cover to reflect the increase in your mortgage without reapplying or undergoing additional medical assessments.
When can you use special event increases?
Here are some of the most common qualifying events for a Special Event Increase:
The qualifying events can vary by insurer, so check with your adviser to confirm what’s covered in your policy.
The benefits of special event increases
Special Event Increases offer valuable flexibility, with benefits like:
What you should consider
A few things to keep in mind:
Ready to align your cover with life’s changes?
Special event increases offer an easy way to keep your insurance aligned with your life. If you’ve recently experienced a significant event or are planning for one, reach out to your Haven Financial Adviser. We’ll help you explore your options and ensure you’re well-covered for life’s important moments.
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