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ANZ no longer offer Funeral Insurance to new customers. This information has been left for the benefit of existing customers. You may wish to consider ANZ's other life insurance products. or compare more funeral insurance options.
If you are in your 50s, you may think that life insurance is no longer necessary. All your children have grown up, moved out of home become financially independent. You may also have paid off some, if not most, of your debts.
However, it is important to remember that should you pass away unexpectedly, your loved ones would be the ones cover all the financial responsibilities you have left and come up with the funds for your funeral arrangement.
Life insurance can be a great way to leave a positive legacy for your family and this is why you may want to consider the ANZ 50+ Life Insurance plan that is flexible and affordable, while offering you all the protection you want and need.
Maximum sum insured | $15,000 |
---|---|
Age of entry | 50 - 70 |
How do I apply? | Online through ANZ |
Information last checked on May 2019. Always consult the Product Disclosure Statement (PDS).
Information last checked on May 2019. Always consult the Product Disclosure Statement (PDS).
Note: The following is based on the life insurer Swiss Re Life & Health Australia Limited. Swiss Re Life & Health Australia Limited is the actual insurer behind brands like ANZ Funeral insurance.
Claims data | Swiss | Industry Average |
---|---|---|
Average claim time (months) | 0.60 | 0.60 |
Claim disputes (per 100,000 lives insured) | 1.6 | 3.4 |
We looked at APRA data for claims over 2017-2018. The statistics above reflect 'funeral insurance' claims.
As much as you compare, consider and judge, you will know that your life is unlike anyone else’s, and so your life insurance needs to be tailored to your circumstances. With ANZ 50+ Life Insurance you are getting the peace of mind you want for your family’s future, plus great features and even better affordability.What does the policy cover?
ANZ 50 Plus Life Insurance policy offers the following features:
Policy Period | Life Benefit | Accidental Death Benefit | Premium Refund? |
---|---|---|---|
Within the first 12 months from the commencement date of the policy | - if the death is not caused by an accident. | ||
Within the first 12 months from the commencement date of the policy |
The ANZ 50+ Life Cover Life Benefit is paid in the event of your death. However, this benefit is only payable on deaths that occur after you have held cover for 12 months. If you die within the first 12 months of cover but not as a result of an accident, 100% of the premiums you have paid will be refunded to your estate. You can choose a Life Benefit amount of up to $15,000.
The Accidental Death Benefit is the same amount as your Life Benefit and is paid as a lump sum when you die as the result of an accident. This benefit is payable from the day cover begins, and if your death is caused by an accident more than 12 months after the policy acceptance date, the Accidental Death Benefit is paid in addition to the Life Benefit.
To be eligible for ANZ 50+ Life Cover you will need to be:
You will also need to receive the policy PDS in Australia.
The ANZ 50+ Life Cover LifE Benefit will not be paid if you die within the first 12 months after taking out cover. Any claims arising directly or indirectly from suicide within the first 12 months of your cover beginning or being reinstated will also not be paid.
Other factors you should be aware of about ANZ 50+ Life Cover include:
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I want to know can I take out funeral insurance for my parents?
Hi Sam,
Thanks for your question.
Yes, taking a funeral insurance for your parents is possible with ANZ and most insurers.
You may want to check our guide on this page for more information on how it works. You may also fill out our online form if you want to speak to a consultant who can help find a suitable option for you.
Cheers,
Anndy