Progressive Care is a type of trauma insurance. Unlike traditional products which only pay out a single lump sum, Progressive Care can pay out more than once, as the payments are linked to the severity of a condition.
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Progressive Care is a policy which pays a non-taxable lump sum benefit if you develop any one of 60+ specified medical conditions. The benefit amount ranges from 10% to 100% of the cover under the policy, based on the severity of the condition. The policy enables multiple benefit payments.
You never know when you might be afflicted by a serious medical condition. And it's not just your health you need to worry about – What about the financial impact it could have on you or your family?
Get covered and protect yourself today with Sovereign TotalCareMax Progressive Care.
Progressive Care covers more than 60 medical conditions across 5 categories:
|Any malignant tumour|
|Any prostate cancer|
|Any malignant melanoma|
|Urinary bladder cancer|
|Any malignant brain tumour|
|Any benign brain tumour|
|Any bone marrow or stem cell transplant|
|Transplant waiting list for bone marrow transplant|
|CIN-3, VIN-3, PIN-3|
|Any heart attack|
|Out-of-hospital cardiac arrest|
|Coronary artery bypass graft|
|Heart valve surgery|
|Minor heart valve surgery|
|Severe congestive cardiac failure|
|Severe peripheral vascular disease|
|Any dementia and Alzheimer’s disease|
|Any Parkinson’s disease|
|Major head trauma|
|Motor neurone disease|
|Any multiple sclerosis|
|Any muscular dystrophy|
|Paralysis – Diplegia and Hemiplegia|
|Loss of independent existence|
|Severe burns/ Major burns/ Serious burns|
|Any loss of sight|
|Loss of sight on one eye and one limb|
|Any loss of hearing|
|Loss of speech|
|Loss of limbs|
|Intensive care benefit|
|Paraplegia/ Quadriplegia/ Tetraplegia|
|Chronic liver failure|
|Chronic lung failure|
|Chronic kidney failure|
|Primary pulmonary hypertension|
|Major organ transplant (or transplant waiting list)|
|Acute renal dialysis|
|Chronic obstructive pulmonary disease|
|Removal of large bowel|
|Severe rheumatoid arthritis|
|Severe ulcerative colitis|
|Severe Crohn’s disease|
|Advanced Type 1 diabetes|
|Type 1 diabetes|
|Advanced Type 2 diabetes|
|HIV and advanced AIDS|
|Systemic lupus erythematosus|
|Severe illness or injury|
A 3 month stand down period (from the date the Progressive Care Benefit commences) applies to certain conditions. Please refer to the Policy Wording for full details, including when a stand down period applies.
Sovereign TotalCareMax Progressive Care includes a range of benefits designed to support you when you need it most:
Progressive Care Benefit
Progressive Care covers more than 60 medical conditions across 5 categories – Cancer, Heart and Arteries, Brain and Nerves, Loss of Function and Other Health Conditions.
Receive a benefit payment based on the severity of your condition. Receive 10%, 25%, 50%, 75% or 100% of the sum insured in each category.
Unlike traditional products, your cover will not cease after you make a claim. You can make additional claims if your condition gets worse, you suffer from a more severe, related condition, or you suffer from a new condition.
Built-in Special Events Increase Facility
You can increase the amount of cover under your policy following certain life events, without any medical questions, examinations or tests. A premium will be applied to the additional cover.
Built-in Future Insurability Benefit
You can increase the amount of cover under your policy at every third policy anniversary date by up to 20% of the original cover (up to a maximum of $200,000), without any medical evidence. An increase in premium applies.
Built-in Financial and Legal Advice Benefit
After you receive your claim payment, get reimbursed for up to $2,500 including GST for financial planning fees paid to an accredited adviser or for legal advice from a legal professional approved by Sovereign.
Built-in Children’s Trauma Benefit
If your child suffers an applicable condition, receive a benefit of 50% of the sum assured (up to $50,000). This benefit provides trauma cover for your children at no additional cost. Payment of this benefit will not reduce the amount of any benefit for you.
Built-in Newborn Children’s Benefit
If your biological child is born with one of five defined congenital conditions and survives for 30 days after birth, receive a benefit of 50% of the sum assured (up to $50,000). Payment of this benefit will not reduce the amount of any benefit for you.
Built-in Return Home Benefit
If you are outside New Zealand and suffer from, for the first time, a covered condition, Sovereign will reimburse the cost of a standard economy flight back to New Zealand for you and one support person, up to a total cost of $10,000.
Built-in Bereavement Support Benefit
Sovereign will pay a Bereavement Support Benefit if a child of yours dies before age 21. A benefit will even be paid if a child of dies prior to birth but after at least 24 weeks gestation and you are the biological mother of the child. If the child is under age 10, the amount payable is $2,000 (the maximum under law), otherwise the amount payable is $15,000.
Built-in Counselling Benefit
Get reimbursed for up to $2,500 including GST for the cost of a psychiatrist or psychologist consultation and/or counselling where the support treatments and/or consultations directly relate to a claim under the Progressive Care Benefit.
Built-in Suspension of Premium Benefit
If you go on parental leave, or go on leave without pay for any reason, you may suspend your cover for up to 12 months. No premium will be payable during the period that the cover is suspended, however no claim will be payable for any condition that occurs during the period cover is suspended.
Built-in Children’s Trauma Conversion Facility
The Built-in Children’s Trauma Benefit can be converted to a standalone Progressive Care Benefit of up to 50% of the original sum assured (up to a maximum of $50,000), without further medical evidence.
Built-in Premium Conversion Facility
At any time before age 65, you can convert all or part of your Progressive Care Benefit from a Rate for Age premium structure to a Level premium structure without needing to produce further medical evidence.
Please refer to the Policy Wording for full details of all benefits and any associated terms and conditions.
Sovereign TotalCareMax Progressive Care includes all the following great features:
Any and all benefits payable under the Progressive Care Benefit are paid as tax-free lump sum benefits under current legislation, directly to the policy owner.
Whether you’re at home, or travelling or working anywhere overseas for any period, you remain insured for every medical condition which is specified.
If any change is made to the underlying policy in the future, and that change would be favourable to you, then guaranteed enhancement means that the change will automatically be applied to your policy. Conditions apply.
If at any time during the 15 days following receipt of your policy you don’t wish to continue with your cover (for whatever reason at all), you can return your policy for a full refund of all premiums paid.
Please refer to the Policy Wording for full details and any associated terms and conditions.
Check out our FAQs for answers to frequently asked questions.
Apply online today to be eligible for a 25% Cash Bonus, a $100 New World Gift Card (minimum premium required) and earn Airpoints Dollars™.
Plus, get a 10% Discount every year for any policy which includes either Life Cover for two people or Life Cover for one person plus at least one other eligible benefit (minimum cover and premium criteria apply).
The above identifies and provides a brief summary only of the principal benefits under the policy. Please refer to the policy wording, including the policy appendix and schedule, for full details of all the benefits and the terms and conditions under which they are provided.