Life Insurance Products

Compare 26 products offered for Life Insurance from 14 companies including CAIP Services Pty Ltd, Pen Underwriting Pty Ltd, and Chubb Insurance Australia Ltd.

Our Insurance Comparison Tool allows you to pick the right Life Insurance policy by comparing every plan offered by Canada's leading providers. Need more info? Our Frequently Asked Questions can explain this coverage area in greater detail.

Compare Life Insurance Policies

Products 1 to 10 of 26
Product name Max Coverage Min Premium Exclusions
Life by Chubb Insurance Australia Ltd Max Coverage AUD2M Min Premium N/A
  • alcohol or substance abuse
  • injuries from piloting an aircraft
  • intentional self-inflicted injury
  • motor sports
  • professional sports
  • suicide


more details
Life Plan by Allianz Australia Insurance Ltd Max Coverage AUD2M Min Premium N/A


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Ezicover® Life by Zurich Financial Services Australia Ltd Max Coverage AUD2M Min Premium N/A


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Income Protection by CAIP Services Pty Ltd Max Coverage N/A Min Premium N/A


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Ezicover® Funeral Advantage by Zurich Financial Services Australia Ltd Max Coverage AUD15K Min Premium N/A
  • suicide


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Active by Zurich Financial Services Australia Ltd Max Coverage AUD4M Min Premium N/A
  • alcohol or substance abuse
  • congenital condition
  • elective surgery that occurs within six months of cover commencement
  • intensive care
  • intentional self-inflicted injury
  • pregnancy or childbirth


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Personal Accident and Sickness (Income Protection) by Tailored Underwriting Max Coverage N/A Min Premium N/A


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Superannuation Plan and Account-Based Pension by Zurich Financial Services Australia Ltd Max Coverage AUD5M Min Premium AUD160


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Voluntary Workers Personal Accident by Arena Underwriting Pty Ltd Max Coverage N/A Min Premium N/A
  • mental health
  • self-inflicted injuries
  • subsequent / multiple injuries
  • suicide


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Journey by DUAL Australia Pty Ltd Max Coverage N/A Min Premium N/A


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Frequently Asked Questions

(click to expand)

 

What Is Life Insurance?

Life insurance (also known as Life Cover, Death Cover or Life Assurance) provides financial protection in the form of a benefit in the event of someone’s death. By taking out a Life insurance policy, the client is able to provide financial security to dependants and loved ones in the event of their sudden death, a terminal illness or a critical illness.

Why Types Of Life Insurance Policy Are There?

There are two types of Life insurance policy:

 

  • Term life insurance policy: Policies taken out to cover a fixed period of time with a payment only made out if death occurs during the agreed ‘term’ of the policy.
  • Whole of life policy: A sum paid out regardless of time of death as long as premiums are paid.

Payouts can be given to beneficiaries either as a lump sum or through regular payments over a certain period. The latter ensures that the Life insurance policyholder with reassurance that their dependants will be looked after financially in the event of their death.

This can take the form of a regular allowance or mortgage payments if specified by the policyholder (instead of one lump sum).

Who Needs Life Insurance?

Life insurance is recommended for those who have any of the following:

 

  • dependents (eg children, ill/disabled family members, etc)
  • a partner
  • a family living in a home requiring mortgage payments

If the client is single, has a partner with sufficient income or has a job with payment-on-death benefits then a Life insurance policy is not necessary.

What Does Life Insurance Cover?

Life insurance covers the death of the policyholder. However some more extensive Life insurance policies also include the following:

 

  • critical illness cover (if included by the insurer)
  • terminal illness cover (if death occurs within an agreed time limit covered by the policy)

What Is Not Included In Life Insurance?

Life insurance varies from company to company. While more insurance policies try to be more inclusive, please check the following specifications:

 

  • age limits
  • pre-existing conditions
  • long-term illnesses
  • critical illnesses
  • disabilities

However there are certain exclusions which are typical to most Life insurance policies:

  • suicide or self-injury
  • any illnesses not specifically included in the scope of cover
  • death occurs outside covered period
  • death caused by drug or alcohol misuse
  • death caused by high-risk activities (eg sports that require extra or specific cover)

How Much Is Life Insurance?

Life insurance is determined by assessing the following criteria:

 

  • client’s age
  • client’s health
  • client’s lifestyle
  • smoking habits
  • policy length
  • amount to be covered

In short, the younger and healthier the client, the cheaper the premiums will be for a Life insurance policy. While some Life cover plans are very rigid there are also some that take into account chronic illnesses and deteriorating health. The latter will be more expensive but are now beginning to appear more frequently.