Our Life cover pays a lump sum in the event of your death or if you're diagnosed with a Terminal Illness where death is likely to occur within 24 months.2 The lump sum payment can be used however you choose, and can help cover things like mortgage payments, living expenses such as school fees, bills or groceries, and funeral costs.
What is Life cover?
Need to make a Life cover claim? We’re here to help. Lodging a claim with us is easy.
What our Life Insurance covers
Find out what’s covered under our Life cover, as well as optional cover you can buy for added protection.
-
What’s covered
-
What's not covered
-
Optional cover
Policy benefits
Other benefits
This is a summary of only some of the features and benefits available on Allianz Life Plan. Before deciding on a policy, read the Product Disclosure Statement (PDS) which sets out the standard terms, conditions, limits, definitions, exclusions, waiting periods, exclusion periods and information about taking a combination of cover. If you consider it appropriate, speak with a financial adviser before deciding on any cover.
Benefit limits and eligibility
You can apply for cover if you’re an Australian permanent resident aged between 16 and 65. This means if you’re an Australian or New Zealand citizen or you hold an Australian Permanent Resident Visa, and you’re permanently living in Australia at the time of your application.
We’ll ask you some questions about your health, lifestyle and family medical history to determine whether we’re able to offer you cover.
This product is not suitable for purchase within a superannuation fund.
The maximum Life cover amount6,7 you can apply for is based on your current age and is listed below:
Swipe to view more
|
Age at application
|
Minimum cover amount
|
Maximum cover amount
|
|---|---|---|
| 16 - 45 | $100,000 | $1,500,000 |
| 46 - 55 | $100,000 | $1,000,000 |
| 56 - 65 |
$100,000 |
$500,000 |
How to apply for Life Cover
You can apply for Life Insurance online in three easy steps, without the need for a medical or blood test. Or if you prefer, give us a call on 13 1000.
1. Get a free no-obligation quote
2. Apply online with no medicals required
3. Pay online and secure cover
Make it a Life Plan
We offer Critical Illness cover and Permanently Unable to Work cover within our Allianz Life Plan, which can be added on to your Life cover.7
Critical Illness cover
Apply for up to $500,000 depending on your age to cover defined Critical Illness events.6,7,8
Permanently Unable to Work cover
Apply for up to $1.5m depending on your age to cover if you’re unlikely to ever work again because of sickness or injury, or a Major Physical Impairment.6,7,9
This is a summary of only some of the features and benefits available on Allianz Life Plan. Before deciding on a policy, read the Product Disclosure Statement (PDS) which sets out the standard terms, conditions, limits, definitions, exclusions, waiting periods, exclusion periods and information about taking a combination of cover. If you consider it appropriate, speak with a financial adviser before deciding on any cover.
Life Insurance calculator
We understand that when you take out life insurance, it’s important the amount you’re insured for reflects what you’ll need to keep your loved ones financially secure when you’re no longer around to provide for them.
Get an estimate within 10 minutes of how much life insurance you may need.
Why choose us?
World's #1 insurance brand
Allianz Life is part of Allianz Group, which has been recognised as the world's top insurance brand by Interbrand's Best Global Brands 2023
Pay monthly at no extra cost10
When you buy or renew, you have the flexibility to pay annually or monthly at no extra cost
Specialist assistance
Our team of specialists understands the importance of Life Insurance and is here to help
Life Insurance Code
We’ve been a Life Insurance Code of Practice Subscriber since 2017
Frequently asked questions
The cost of your insurance is called a ‘premium’. Your premium will depend on several factors and can change each year on your policy anniversary.
There are several factors that determine how your Allianz Life Plan premium is calculated, including:
- your age
- your gender
- whether or not you smoke
- the type and amount of cover you select
- any Inflation Proofing Increases applied
- your state of health
- pastimes
- your occupation (in the case of Permanently Unable to Work cover only)
Premiums will increase each year based on your age or a change in premium rates. Premiums will also increase if your cover amount increases, for example due to inflation proofing4. If you don’t want inflation proofing applied to your policy, you can ask us to remove it each year.
If you have any questions about future premiums or inflation proofing increases, contact us on 13 10 00.
How much Life, Permanently Unable to Work and Critical Illness cover you need depends on your individual circumstances. Some general considerations are:
- what works within your budget
- whether or not you have dependents, for example a spouse, partner or children, who are reliant on your income
- whether or not you have a mortgage or any other debts, such as credit cards and other loans, that you’re responsible for
- if you hold any life insurance cover through your superannuation fund
If you’re unsure about the level of cover you need, speak with a financial adviser before deciding. Find our more or get an estimate from the Life Insurance calculator page.
Your cover begins on the day we accept your application for cover and payment is made - the ‘commencement date’ can be found on your Policy Schedule. Exclusion periods and waiting periods apply to certain Critical Illness8 and Permanently Unable to Work benefits.9
Your claim is assessed against specific definitions, located in the Product Disclosure Statement, before it can be paid. Exclusions apply to all covers, refer to the ‘When is a benefit not payable (policy exclusions)?’ and under each cover section in the Product Disclosure Statement.
Premiums are payable annually or monthly, at no extra cost, subject to minor adjustments (upwards or downwards) due to rounding. This can be by direct debit from a Visa, Mastercard, or American Express credit card or from a bank account. Financial Institution transaction fees may apply.
No, the total monthly or annual premium can only be debited from one bank account or credit card.
We don’t list traditional beneficiaries on policies. You have the option of adding an additional Policy Owner to your policy. Policy Owners have full rights over the policy, including cancellation and receive any death benefit paid.
To discuss adding an additional Policy Owner to your policy, call us on 13 10 00 or access the Addition of policy owner form.
We're here to help
Give us a call, or send us a message
Follow us on
*Conditions apply
- World’s #1 insurance brand
Allianz Life is part of Allianz Group, which has been recognised as the world’s top insurance brand by Interbrand’s Best Global Brands 2023.
- Life cover and Terminal Illness
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.
Terms, conditions, limits and exclusions apply. Refer to Policy benefits ‘Life cover’ and ‘When is a benefit not payable (policy exclusions)?’ sections of the Product Disclosure Statement for full details.
- Advancement for Funeral Expenses
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. If we pay the $15,000 Advancement for Funeral Expenses, the Life Cover Amount will be reduced by the amount of this advancement. Other conditions apply.
Payment of the Advancement for Funeral Expenses is not acceptance of a Life cover claim.
- Inflation Proofing Increases
Premiums increase from year to year in line with the increased cover amount. An Inflation proofing increase can be declined in a given year by contacting us.
Refer to the ‘Inflation Proofing Increases’, ‘Premium, fees and other charges’ and ‘Premium calculation and payment’ sections of the Product Disclosure Statement for full details.
- Guarantee to continue cover
Cover is guaranteed until you reach 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.
- Cover amounts
Maximum cover amounts apply and are dependent on your age at the time of application. The Critical Illness cover amount and Permanently Unable to Work cover amount can’t exceed the Life cover amount. The minimum cover amount for Critical Illness cover is $50,000, and $100,000 for Life cover and Permanently Unable to Work cover.
The maximum total amount payable under a policy is the Life cover amount listed on the Policy Schedule. Other conditions apply. Refer to the 'How much cover can I apply for?' and 'Maximum benefits payable' section in the Product Disclosure Statement for full details.
- Combination of cover and Life cover Buy Back
Policies must include Life cover; taking a combination of cover you can also apply to add Critical Illness cover and Permanently Unable to Work cover. If we make a full Life cover payment in the event of death or Terminal Illness, then the 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 the 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. Critical Illness cover and Permanently Unable to Work cover won’t be reinstated as part of the Life cover Buy Back feature. This feature is not included in all policies.
Refer to the 'Taking a combination of cover' and the 'Life cover Buy Back' sections in the Product Disclosure Statement for full details.
- Critical Illness cover
Critical Illnesses covered under this product are certain types of Vascular Disease, Cardiac Surgery, Cancer of specified severity, Degenerative Diseases, and Major Organ Failure. Each has a specific definition as outlined in the Product Disclosure Statement.
In some cases, a 90-day exclusion period applies.
We won’t pay a Critical Illness benefit where the Critical Illness is intentionally self-inflicted.
Refer to the Policy benefits ‘Critical Illnesses cover’, ‘When a Critical Illness benefit will be payable’ and ‘When is a benefit not payable (policy exclusions)?’ sections of the Product Disclosure Statement for full details.
- Permanently Unable to Work cover
Provides cover if, solely because of Sickness or Injury, you suffer a defined Major Physical Impairment, or you have:
- been continuously unable to work for a period of at least 90 consecutive days; and
- are unlikely ever to work again in any occupation for which you are suited based on your work experience, education and any training you’ve 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.
We won’t pay a Permanently Unable to Work benefit where the condition is intentionally self-inflicted.
Refer to the Policy benefits ‘Permanently Unable to Work cover’, ‘When a Permanently Unable to Work benefit will be payable’ and ‘When is a benefit not payable (policy exclusions)?’ sections in the Product Disclosure Statement for full details.
- Pay by instalments
Premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding, and financial institution transaction fees may apply.
Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.
Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.
Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.