Life insurance means having peace of mind about the future. It’s knowing that you’ve helped to take care of your loved ones. 1300 Insurance can refer you to Allianz Life for LifeCover Plus. If you die or become terminally ill,1 LifeCover Plus pays out a lump sum to help provide for their needs.
If you meet the eligibility criteria, you can also add protection in case you suffer a defined critical illness event or become permanently unable to work as a result of sickness or injury. LifeCover Plus will pay out a lump sum to help you meet expenses like your medical bills, mortgage payments and living costs.*
LifeCover in brief*
You can insure up to $1,500,000 in Life cover depending on your age2, with world-wide protection and automatic increase of your cover amount every year until you reach the age of 65 to keep up with inflation.3
When you take out Life cover you can also apply for Critical Illness cover, which pays a lump sum if you suffer a defined critical illness event such as cancer or heart attack4, and/or Permanently Unable to Work cover, which pays a lump sum if you suffer a major physical impairment like blindness or a sickness or injury which means you are unlikely ever to be able to work again. 5 *
You can apply for Life over if you’re aged between 16 and 65, and for Critical Illness or Permanently Unable to Work cover if you’re aged between 16 and 55. If we accept your application your cover will remain in place for as long as you pay your premiums – renewal is guaranteed up to age 99 (Life cover), 70 (Critical Illness cover), or 65 (Permanently Unable to Work cover). 6
You can get an indicative quote and apply for LifeCover Plus online. There are no blood tests or medical tests required to apply.
We realise that buying life insurance is a big decision. If you change your mind within the first 30 days, you can cancel your policy and Allianz Life will refund any premiums paid, unless a claim has been or can be made under the policy.
* For the standard terms, conditions, limits and exclusions of cover, please refer to the PDS.
It’s hard to think about how your loved ones would manage without you, or how you’d cope if you were no longer able to work – but making preparations now means less to worry about later.
Life cover can help you provide for your loved ones should the worst happen to you. It payments a lump sum amount if you die or become terminally ill (with a life expectancy of less than 12 months). Your family can use the money for any purpose, for example:
- To repay debts or pay out your mortgage
- To cover medical or funeral expenses
- To pay living expenses like utility bills or school fees
- To invest for a regular income to replace your earnings
LifeCover Plus is a simple way for you to protect your family. It’s an easy way to help provide for your family if you die, become critically ill or are permanently unable to work. There’s no need for medical examinations, blood tests or interviews in order to apply.
The maximum amount of Life cover you can apply for will depend on your age:2
- Age 16 – 45: $1,500,000
- Age 46 – 55: $1,000,000
- Age 56 – 65: $500,000
As long as you keep up with your premium payments, renewal is guaranteed every year up to the age limit for each type of cover (age 99 for life cover, 70 for Critical Illness cover, and 65 for Permanently Unable to Work cover.) 6 To make sure your benefits remain in line with inflation, we’ll automatically increase your cover amount each year by 5% or the change in the CPI, whichever is greater, until you reach the age of 65. 3
The cost of your premiums will depend on a number of factors such your age, gender, occupation and lifestyle, and whether you are a smoker. If you choose to apply for Critical Illness cover and/or Permanently Unable to work cover, you’ll pay additional premiums for this protection.
We understand that life insurance claims can be daunting. That’s why we have partnered with Allianz Life, who has a simple claims process so that claims are handled as quickly as possible. For information on how to claim, click here.
Waiting periods may apply to certain covers and benefits, so please refer to the Product Disclosure Statement for the standard terms, conditions, limits and exclusions of cover before you apply.
For a summary of the cover available under LifeCover Plus, check out the table below.
|Life Cover||Critical Illness Cover||Permanently Unable to Work Cover|
Life cover pays a lump sum if you die or suffer a terminal illness where death is likely to occur within 12 months.
You must be between the ages of 16 and 65 to apply for Life cover.
Critical Illness cover, also known as Trauma cover, pays a lump sum if you suffer one of the defined Critical Illness events.
You must be between the ages of 16 and 55 to apply for Critical Illness cover.
Critical Illness cover must be taken out in conjunction with Life cover.
Permanently Unable to Work Cover pays a lump sum if you either suffer a sickness or injury which means you are unlikely ever to be able to work again, or you suffer a major physical impairment.
You must be between the ages of 16 and 55 to apply for Permanently Unable to Work cover.
Permanently Unable to Work cover must be taken out in conjunction with Life cover.
Up to $1,500,000 cover depending on your age2
Insure up to 2 people on the same policy
Accidental injury benefit for loss of sight or limb
Automatic increase of cover amount every year until you reach the age of 65 to keep up with inflation 3
Keep your cover – guaranteed renewal of cover to age ninety nine6
Up to $500,000 cover 2
Cover for serious illnesses specified in the PDS, such as cancer, stroke and heart attack4
Automatic increases of cover amount every year until you reach the age of 65 to keep up with inflation3
Keep your cover – guaranteed renewal of cover to age seventy6
Up to $1,500,000 cover depending on your age 2
Cover for major physical impairment such as blindness or loss of hearing 5
Automatic increase of cover amount every year until you reach the age of 65 to keep up with inflation 3
Keep your cover – guaranteed renewal of cover to age sixty five 6
This is a summary only. Before making a decision, please refer to the Product Disclosure Statement for the standard, terms, conditions, limits and exclusions of cover.
How to apply for cover
You can apply for LifeCover Plus online or by calling 1300 467 872. If you meet the eligibility criteria and decide to go ahead to purchase LifeCover Plus, your cover will start from the moment your application is accepted and payment is made, except for certain parts of the Critical Illness cover where a three-month waiting period applies. When your application is accepted and payment is made, you can receive your policy documents by email.
This information is a summary only, and exclusions do apply. It's important that you read the Product Disclosure Statement and ensure that you understand the standard terms, conditions, limits and exclusions of cover before you make a decision on this insurance.
1300 Insurance Pty Ltd ABN 50 124 845 727 AR Number 327609 is authorised to refer you to the insurer Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFSL 296559 (Allianz Life) and to provide written general advice on this insurance as the insurer’s agent.
We do not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits and exclusions apply. Before making a decision, please consider the Product Disclosure Statement.
If you purchase this insurance, we will receive a commission which is a percentage of the premium. Ask us for more details before we provide you with services.
1 Applies for terminal illness only where death is likely to occur within 12 months.
2 Maximum cover amount is 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 PDS for details.
3 Cover amounts are automatically increased on each policy anniversary by 5% or the change in the CPI, whichever is greater. Increases to cover amounts only applicable until age 65. Premiums may increase from year to year in line with the increased cover amount. Please refer to the PDS for details.
4 Conditions covered under Critical Illness cover are certain types of Vascular Disease, Terminal Cancer, Degenerative Diseases, Cardiac Surgery, and Major Organ Failure. Three month waiting period applies for certain illnesses. Please refer to the ‘When a Critical Illness benefit will be payable’ section in the Product Disclosure Statement which sets out the standard list of covered conditions and events.
5 Conditions covered under Permanently Unable to Work cover include Loss of Limbs or Paralysis, Loss of Sight, and Loss of Hearing. Please refer to the ‘When a Permanently Unable to Work Benefit will be payable’ section in the Product Disclosure Statement which sets out the standard list of covered conditions and events.
6 Renewal of cover is guaranteed until the insured reaches the age specified in the PDS for the relevant cover, regardless of how their health may change. Applies subject to payment of premiums when due.
Want to know more about life insurance? Here are the answers to our most frequently asked questions.
Life cover is a type of life insurance that pays a lump sum if you die, or if you are diagnosed with a terminal illness and your life expectancy is less than 12 months. This kind of insurance cover is sometimes referred to as 'term life insurance' or ‘death benefit’. The payment can be used for any purpose.
With our policy you can choose the amount of cover you need, between $100,000 and up to $1,500,0001, depending on your age. You can renew your cover each year until you reach age 99, provided that you keep your premiums up to date2.
Critical illness cover, also known as trauma cover, pays a lump sum if you suffer a critical illness such as cancer or a heart attack3.
You must be between the ages of 16 and 55 to apply for critical illness cover, and it must be taken out in conjunction with life cover. You can apply for between $50k and $500k1 cover.
Permanently unable to work cover pays a lump sum if you suffer a major physical impairment like blindness4, or a sickness or injury which means you are unlikely ever to be able to work again.
You must be between the ages of 16 and 55 to apply for permanently unable to work cover, and it must be taken out in conjunction with life cover. You can apply for between $100k and $1m1 depending on your age.
The cost of your life insurance policy is your monthly or annual premium. The amount will depend on your individual circumstances, and which types of cover you choose to take out.
We will take into account a number of factors such as your age, your occupation, your health and lifestyle and whether or not you smoke.
You can find out what your monthly or annual premium amount will be by clicking on the ‘Get a Quote’ button below.
Yes, you can apply to insure two people on the same life cover policy or separate policies if you desire.
Our life insurance cover has a 30-day cooling off period. So, if you have second thoughts after buying your policy, you can cancel it within 30 days and get a full refund.
You will not be able to claim a refund if you have already made a claim.
As long as you pay your premiums when they are due, your life insurance policy will stay in place until you reach age 992. It will then expire on the next anniversary of its start date.
If you do not pay your premiums on time, we may be entitled to reduce or refuse to pay a claim and cancel your policy.
You can cancel your policy at any time. If you decide to cancel your policy we will refund the proportion of your premium relating to the unused period of insurance, less the administration fee and any non-refundable government charges. However, we will not refund any premium if you have made a claim.
You cannot make a claim once your policy has been cancelled, either by you or by us.
In most cases, a life insurance policy is owned by the person whose life is being insured. However, you can nominate someone else to be the owner of your policy (such as your spouse). You can also jointly own a policy with someone else (for example in the case of a married couple).
This product is not suitable for self-managed superannuation funds (SMSF) and is not available for purchase through a SMSF.
We would encourage you to speak to your financial planner or accountant who may be able to provide you with advice.
You can apply to increase your cover or to add additional benefits at any time. Your application will be subject to assessment and we do not guarantee to increase cover except in certain specified events such as marriage or children, as outlined in the PDS (see section Guaranteed Benefit Increase in the PDS for terms and conditions), but any cover you already have in place will be unaffected by future applications for increases, even where we decline the increase or agree to cover you subject to special terms.
It’s really important that you keep up to date with your premium payments. If you do not pay your premiums on time we may be entitled to reduce or refuse to pay a claim and cancel your policy. This means you will not be covered and you cannot make a claim.
Premiums are not guaranteed and can change from time to time. Any changes we do make will affect all policies in the same category (for example all 35 year olds), not just your individual policy.
Your premium is calculated each year based on the cover you have selected, any increase in your cover amount by way of inflation proofing5 and your age at that time.
We will notify you of any changes to premium rates at least 30 days before the change takes effect.
In most cases, you will not be able to claim a tax deduction for the premiums you pay for your life insurance policy. However, any lump sum payment we make under the policy would not normally be assessable for tax.
This information is a guide only and is based on current taxation laws. For information about your individual circumstances, it’s important that you contact your tax adviser.
You can pay your premiums by monthly direct debit from your bank account or credit card6. If you prefer you can choose to pay an annual premium instead.
You won’t need to complete any medical tests in order to apply for our life insurance. You can simply complete the online application form and get an indicative quote. Your insurance cover will start from the moment we accept your application, have gone through the payment process and issued your policy.
It is possible that your personal circumstances mean you do not qualify for immediate cover. If this is the case, you may be asked to provide more medical information and you can contact us to discuss your options.
At 1300 Insurance, we offer you the convenience of buying life insurance online, without medical or blood tests to apply. Simply apply online now, or call us on 1300 Insurance to learn more about this insurance or talk to our experienced risk specialists.
This product might be perfect for some people, but there can be a variety of reasons why you might want to talk to a life insurance broker instead. If you are unclear about anything you have read, would like personalised insurance advice, or would simply like to discuss your options, then contact our experienced licensed advisors today on 1300 467 872.
You can also use our online form to request a life insurance quote tailored specifically to you from a life insurance broker.
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.