ANZ Recover Well (Critical Illness) Cover

Receive up to $1,000,000 cover for critical illnesses with ANZ so you can focus on your recovery

We all know how annoying it is to be ill – you can’t go anywhere and do the things you want to do. When you’re ill for any length of time and unable to work, your sick leave quickly runs out and your money runs out even faster. It is not easier when a loved one is sick, because we feel their pain and discomfort, we pour love and time into doing anything we can to make them feel better, while at the same time long for them to recover so we can go back to living our normal lives.

Now consider how your family would cope if you weren’t just ill with a virus for a few weeks, but you were suffering an ongoing critical illness, which required constant care, expensive medical treatments and an extended absence from work. While your family would want to do everything they could for you in this situation, there is actually something you can do for them, because by taking out ANZ Recover Well cover you can ensure that the financial side of any illness which visits your family is taken care of, so you can focus on your recovery.

The team of advisers that directs its enquiries to are not currently able to provide quotes for this provider. You may wish to consider our other primary providers instead.

What does ANZ Recover Well cover?

When your health takes a hit, all you want to be worrying about is getting better and getting back to normal life. However, unfortunately life doesn’t generally run along without you for very long, and there are soon bills to be paid and commitments knocking on the door – none of which will help you relax and recover any faster.

Therefore, take the pressure off yourself and your family in the event of a major illness, with ANZ Recover Well Cover, which pays you a lump sum benefit which can be used on your medical bills, household bills or simply on a restorative retreat while you recover.

With ANZ Recover Well Cover, you can benefit from the following features:

  • Generous level of cover: You can apply for up to $1,000,000 of critical illness cover, depending on your age, gross annual income and any other life insurance you hold at the time you apply. Your policy will provide cover until your 70th birthday.
  • Option for joint cover: You can also be eligible for a discount if you cover your partner as well, plus your family will be well and truly protected knowing both of you will be looked after in case of a major illness.
  • Cover for eight major illnesses: ANZ Recover Well cover will provide a single lump sum benefit in the event that you suffer from one or more conditions as listed on the policy. These include:
    • Cancer
    • Chronic kidney failure
    • Coronary artery bypass surgery
    • Heart attack
    • Multiple Sclerosis
    • Paralysis
    • Severe burns
    • Stroke
  • Indexation: Your critical illness benefit increases each year in line with inflation, so that the benefit amount is relevant to the living and medical costs at the time of the claim, not the time of the policy application.
  • Around the clock worldwide cover: Your critical illness cover is with you 24 hours a day, seven days a week so you can make a claim any time you need to.
  • Your choice of premium options: You can choose to pay your critical illness insurance premiums fortnightly, monthly or annually, to suit your budget and cash flow. However, if you do choose to pay your premiums annually you will be eligible for a discount.
  • Collect Qantas Frequent Flyer points:
    With every $1 you spend on your ANZ Recover Well Cover premiums you can earn one Qantas Frequent Flyer point. You may not think much of this if you’re not a Frequent Flyer member, but ANZ have thought of that too, and will sign you up to the program and waive the joining fee.
  • Fast and easy claims: If you need to make a claim on your critical illness insurance, you simply contact ANZ over the phone, or by posting or faxing back your claim form. Your claim will also need to be accompanied by the diagnosis and certification of an ANZ approved medical practitioner. Medical reports and Medicare records may also be required to assess your claim.

It is important to note that a 90-day qualifying period will be applicable to certain conditions such as cancer, coronary artery bypass surgery, heart attack, and stroke. This means, no critical illness will be payable if the specified condition occurs for the first 90 days after the commencement date, reinstatement or increase of cover amount of the policy.

In addition, the policyholder must also survive without life support after diagnosis of the specific condition for at least eight days to be eligible for a benefit payout.

Who can apply for the policy?

There is no complicated or intrusive application standing between you and critical illness cover, as you can apply one or over the phone and no medical or blood test is required. Once your application is accepted you are then covered immediately.

To be eligible to apply you must be:

  • Between 18 and 59 years old;
  • An Australian or New Zealand citizen or holding an Australian permanent residency visa; and
  • Residing in Australia at the time of your application.

If you change your mind about your ANZ Recover Well Cover after your application has been accepted, you have a 21-day cooling off period to cancel your policy, during which time you will receive a full refund of any premiums you’ve paid as long as you haven’t made a claim.

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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