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Life Insurance

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No medical or blood tests are required to apply and you can get a preliminary quote in minutes. When you take out Life cover, you have the option of including Critical Illness cover and Permanently Unable to Work cover. You’re also entitled to a 30 day cooling off period if you change your mind8.

Industry Awards and Code of Practice

Outstanding Value Direct Life Insurance 2018 - 2020
Roy Morgan Research Customer Satisfaction Awards 2016
Life Insurance Code of Practice Subscriber since 2017
how to claim

How to claim

  • To make a claim call 1300 362 108
  • Making a claim can be a time of great stress, so it is important that all cases are handled sensitively and as quickly as possible. At Allianz, we believe we have a duty to all our customers to consider each claim fairly and professionally, with empathy and in a timely manner.
  • It is our business to pay genuine claims that are covered by the policy. Each claim will be assessed fairly, based on medical and other relevant evidence, using consistent guidelines and procedures in line with the policy terms and conditions.
  • Claims that meet the policy terms and conditions will be paid promptly when all reasonably necessary information has been received and assessed.

Policy Documents and Important Information

For terms, conditions and exclusions about our life insurance, please refer to the Product Disclosure Statement

Important information: This product is not suitable for purchase within a superannuation fund. We would encourage you to speak to your financial planner or accountant who may be able to provide you with advice.

Important note: Information on this website is general information only and does not take into account your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider the appropriateness of the information, having regard to your objectives, financial situation and needs. Terms, conditions, limits and exclusions apply. Before making any decision you should consider the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS). If necessary, please seek advice from a Financial Adviser before deciding on appropriate insurance cover.

Existing Customers: If you are an existing customer,  click here for up to date policy information and access to PDS, documents and forms.

Any advice here does not take into account your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision please consider the relevant Product Disclosure Statement (PDS)/Policy Wording, Supplementary PDS (where applicable)  & PDS Update

 (privacy notice) which are available on this website.
  1. A policy must include Life cover, and you can also choose to apply for Critical Illness cover and/or Permanently Unable to Work cover. Maximum cover amounts apply and are dependent on your age at the time of application. The cover amount of Critical Illness cover and Permanently Unable to Work cover cannot exceed the Life cover amount. The minimum cover amount is $50,000 for Critical Illness cover and $100,000 for Life cover and Permanently Unable to Work cover. Please refer to the 'How much cover can I apply for?' and 'Maximum benefits payable' section in the Product Disclosure Statement for details.

    The maximum total payable amount under this policy is the Life cover amount listed on the Policy Schedule.

    If you take a combination of cover, your other benefits under the policy will reduce by the payment amount of the claim. If we make a full Life cover payment in the event of death or Terminal Illness, then that Life Insured’s policy will cease. Any payment for Critical Illness cover or Permanently Unable to Work cover will reduce any other covers by that payment amount. If a payment made under the Critical Illness cover or Permanently Unable to Work cover, reduces any other cover amount to $0, then that cover will cease for that Life Insured. If Critical Illness cover or Permanently Unable to Work cover is paid in full, we may reinstate the Life Cover Amount that was reduced as a result of the Critical Illness or Permanently Unable to Work payment after a 12 month waiting period. For example, if you had: $700,000 of Life cover and $200,000 of Critical Illness cover and $500,000 of Permanently Unable to Work cover; then in the event a $200,000 Critical Illness benefit is paid to you, your Permanently Unable to Work and your Life cover amount would both reduce by $200,000. Therefore, your Permanently Unable to Work cover amount would then be reduced to $300,000 and your Life cover amount would then be reduced to $500,000. After a 12 month waiting period, we may reinstate the $200,000 in Life cover, increasing the Life Cover Amount back to $700,000 under the Life cover Buy Back feature. Permanently Unable to Work cover will remain at $300,000. Please refer to the 'Taking a combination of cover' and the 'Life cover Buy Back’ sections in the Product Disclosure Statement for details.

  2. "$9.50 a week" as at 5 March 2021: Provisional quote based on 39 year old, non-smoking male for $500,000 life cover. Premiums may vary depending on lifestyle and health risk factors.

  3. Each policy anniversary cover amounts are automatically increased by 5% or the change in the Consumer Price Index, whichever is greater. Increases to cover amounts only applicable until the policy anniversary after your 65th birthday. Premiums increase from year to year in line with the increased cover amount. Any annual increase can be declined, by contacting us.

    Please refer to the Product Disclosure Statement for details of ‘Inflation Proofing Increases’, ‘Premium, fees and other charges’ and ‘Premium calculation and payment’ for details.

  4. Cover is guaranteed until you the Life Insured reaches the age specified in the Product Disclosure Statement for the relevant cover, regardless of how your health may change. Applies subject to payment of premiums when due.

  5. Critical Illnesses covered under this product are certain types of Vascular Disease, Cancer of specified severity, Degenerative Diseases, Cardiac Surgery, and Major Organ Failure. Each critical illness has a specific definition and you should read the Product Disclosure Statement for the specific definition. Please refer to the 'When a Critical Illness benefit will be payable' section in the Product Disclosure Statement for a full description of covered conditions and events.

    In some cases a 90 day exclusion period applies. In the case of Cancer of specified severity, Cardiac Surgery, and Vascular Disease we will not pay a benefit if the insured event occurs, is first diagnosed, the symptoms leading to the diagnosis become apparent, or the recommendation for surgery is made within 90 days of:

    o    the commencement of the benefit;
    o    any increase in the benefit (but only in respect of the increase); or
    o    the reinstatement date where we have agreed to reinstate the benefit after it has lapsed.

    If one of these conditions or events occurs again after the 90 day exclusion period and is not related to the first occurrence, a benefit would then be paid. 

    We will not pay a Critical Illness benefit where the Critical Illness is intentionally self-inflicted. Please refer to the Product Disclosure Statement for details of 'When is a benefit not payable (policy exclusions)?'.

  6. We will pay a benefit when, solely because of Sickness or Injury, you have been continuously unable to work for a period of at least 90 consecutive days and due to that Sickness or Injury you are unlikely ever to work again in any occupation for which you are suited based on your work experience, your education and any training you have had. To apply for Permanently Unable to Work cover you must be working on a permanent basis in an eligible occupation type for at least 20 hours per week. Please refer to the ‘When a Permanently Unable to Work benefit will be payable’ section in the Product Disclosure Statement for a full description of covered conditions and events.

    We will not pay a Permanently Unable to Work benefit where the condition is intentionally self-inflicted. Please refer to the Product Disclosure Statement for details of ‘When is a benefit not payable (policy exclusions)?’.

  7. This benefit is only available where certain reasonable proof and documentation is provided. Any policy exclusions applicable to Life cover, will also apply to the Advancement for Funeral Expenses. Other conditions apply. If we pay the $15,000 Advancement for Funeral Expenses, the Life Cover Amount will be reduced by the amount of this advancement.

    Payment of the Advancement for Funeral Expenses is not acceptance of a Life cover claim. 

  8. You can return the policy within 30 days of receiving the first Policy Schedule (“cooling-off period”) by contacting us and we will refund any premiums paid unless a claim has been or can be made under the policy.

  9. 5% discount
    When you buy a new life insurance policy online using My Benefits, a premium discount of up to 5%  is applied to your first year's premium and anniversary premium (unless advised otherwise).

    Minimum premiums may apply
    If you are eligible for more than one discount, Allianz applies them in a predetermined order.  This means the effect of applying any subsequent discount means that you will not see the full benefit of both these discounts. Discounts do not apply to government taxes or charges. Any discounts may be subject to rounding and only apply to the extent any minimum premium has not been reached.

  10. A Terminal Illness means a Sickness which is likely to result in your death within 24 months. This requires the written opinion of a Specialist supported by reasonable medical evidence in relation to your life expectancy.

  11.  If Critical Illness cover or Permanently Unable to Work cover is paid in full, we may reinstate the Life Cover Amount that was reduced as a result of the Critical Illness or Permanently Unable to Work payment after a 12 month waiting period. For full details and eligibility criteria, see the 'Life cover Buy Back’ section of the Product Disclosure Statement.

  12. Awards
    Five Star CANSTAR rating for Outstanding Value in Direct Life Insurance 2009 – 2013, 2018 – 2020
    “Risk & Life Insurer of the Year” Roy Morgan Research Customer Satisfaction Awards 2016
    Voted Most Trusted Life Insurance brand by Australian consumers in the Reader's Digest Trusted Brands survey in 2015-2018
    2012, 2013 AB+F Insurance Awards "Life Insurance Product of the Year"
     


Important note:

The insurance is issued by Allianz Australia Life Insurance Limited ABN 27 076 033 782, AFSL 296559. The information on this website is general information only and does not take into account your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider the appropriateness of the information, having regard to your objectives, financial situation and needs. Terms, conditions, limits and exclusions apply. Before making any decision you should consider the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS).  If necessary, please seek advice from a Financial Adviser before deciding on appropriate insurance cover.

 



Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the general insurer except in respect of life insurance, in which case Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer.