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Utilising ‘Special Event Increases’ for Insurance Adjustments


Utilising ‘Special Event Increases’ for Insurance Adjustments


In the ever-evolving landscape of life’s milestones, navigating health insurance adjustments can become an unexpected hurdle. Recently, a client’s situation presented a compelling case for a “Special Event Increase” option offered by certain health insurance providers.


The scenario involved a client who, upon welcoming a child into their family, chose to establish health coverage for the child (accepted at the standard rate) and increase life insurance coverage for the husband. However, due to a change in their health status, a loading (additional premium) was applied. While understandable, further investigation revealed a potentially overlooked solution.

The “Special Event Increase” allows policyholders to change their coverage without undergoing full medical underwriting, provided the increase coincides with a qualifying event, such as the birth of a child. This avoids potential premium hikes stemming solely from health changes associated with the qualifying events.

In this instance, having a child undoubtedly constituted a qualifying event. I therefore contacted the insurance provider, advocating for the retroactive application of the “Special Event Increase.” Fortunately, the insurer recognised the validity of my argument. The loading was removed, resulting in a refund of the previously paid premium difference.

This case shows the importance of understanding and utilising available options within your insurance policy. By leveraging the “Special Event Increase” in qualifying situations, people can ensure their coverage aligns with changing life circumstances while potentially avoiding unnecessary premium increases.

Overview of Special Event Increase:

What it is: An option to increase your life insurance coverage without new medical checks after specific life events.

Eligible events: Marriage/civil union, child birth/adoption,becoming legally separated, divorced or the dissolution of the life assured civil union, financially supporting a dependent child through a first course of full-time tertiary education, the commencement of secondary school for the first time by a child of the life assured, becoming responsible for the full-time care or payment for long term care of a close relative, death of spouse/partner, mortgage increase/new purchase, salary increases.


  • No new medical underwriting required.

  • Useful if your health has changed since your initial policy.

  • Can help cover increased financial responsibilities.


  • Increase amount varies by company and event (typically 25-50% of original cover or $250,000 max).

  • Can only use benefits once per event and per year.

  • Age restrictions apply (usually under 55-60).

  • Requires documentation and notification within specific timeframes.

  • Increased coverage incurs additional premium.

Companies offering: Asteron Life, AIA Insurance, Fidelity Life, Partners Life, CHUBB Life.

Remember: Check your specific policy wording for detailed terms and conditions.

Overall: A valuable tool to adjust your life insurance as your life changes without going through another medical exam.

If you would like to learn more about this, or review your current risk insurance cover, get in touch with me for a confidential and complimentary review.