Guaranteed Future Insurability Explained

What is Guaranteed Insurability Feature and why should I take out a policy that includes it?

A Guaranteed Insurability Feature is an optional choice within a life insurance policy that allows you to increase or renew the level of cover you have in place. Most policies will allow you to increase or renew your level of cover once ever 12 months without having to provide any evidence of your health.

What are the benefits of a guaranteed insurability feature?

Some of the key reasons to consider guaranteed insurability include:

  • Unexpected changes to health. If you expect your health to worsen in the future, a guaranteed insurability rider can keep you from being worried about being assessed again when you renew your policy.
  • Your financial situation changes in the future. If you are not in a position to buy a huge amount of life insurance currently as you cannot pay the premiums, you may opt for such a rider as it will enable you to buy more insurance in the future, when and if you can afford it.
  • You personal situation requires a larger sum insured in the future. Your insurance needs may change with time and the current cover that you have could be inadequate in the future due to your advancing age or due to additions in your family.

This can be a huge benefit for you if you are considering buying life insurance, nor do you have to worry about being rejected for additional life insurance on the grounds that you are uninsurable.

Compare policies with Guaranteed Insurability

What types of insurance can the Guaranteed Insurability Feature be used for?

This type of insurance is generally available for;

What are the common conditions when it comes to the Guaranteed Insurability Feature?

Most providers will only allow for this feature to be used up to a certain age i.e. before 55. In some cases, you can only increase your benefit when a certain life even happens.

When would I increase the level of cover in my insurance?

There are a number of key events that may lead you to consider increasing or decreasing the level of cover in your insurance. These include;

  • Marriage
  • Enter/register de facto marriage
  • Divorce
  • Legal separation
  • Birth/adoption of child
  • Child starts school
  • Purchase home
  • Complete university
  • Increase of income
  • Take out a buy-sell agreement with business partner

Evidence you will need to provide your insurer

Most insurers will require you to provide some form of evidence if you are applying for an increase following certain life events. Such evident may include;

  • Marriage certificate
  • Divorce papers
  • Death certificate of spouse
  • Birth certificate of newborn
  • University degree
  • Business partnership agreement
  • Mortgage bank certificate document

When is Guaranteed Insurability not available?

Furthermore, a Guaranteed Insurability Feature is not available if:

  • Your plan has a significant premium loading applied
  • Your plan has exclusions applied
  • Your plan has special terms in place
  • Your premium is being waived

Compare Life Insurance Quotes with Guaranteed Insurability

Please enter your full name
Please enter a valid email address
It's important to give us a valid phone number
Date of Birth
Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
By submitting this form, you agree to the privacy policy
Compare Quotes

Compare Life insurance quotes from these direct brands

Rates last updated May 28th, 2017
Product details Maximum cover Maximum Entry Age Cooling-off
Ozicare Life Care
Ozicare Life Care
Get up to $1 million in life insurance with Ozicare Life Cover. $1,000,000 64 30 Get quoteMore info
Life Insurance
Life Insurance
Choice of cover options and flexible premiums to suit budget. No lock-in contracts and fast application. $1,500,000 65 30 Get quoteMore info
Insuranceline Life Insurance
Insuranceline Life Insurance
Get up to $1.5 million in life cover with no medical tests required. $1,500,000 69 30 Get quoteMore info
Real Family Life Insurance
Real Family Life Insurance
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ . $1,000,000 64 30 Get quoteMore info
TAL Lifetime Protection Life Insurance
TAL Lifetime Protection Life Insurance
Get up to 1.5 million in life insurance cover and choose from a range of additional options. $1,500,000 74 30 Get quoteMore info
Term Life Insurance
Term Life Insurance
A simple life insurance product that can offer up to $1,500,000 in a lump sum payment on death or diagnosis of terminal illness. $1,500,000 69 30 Get quoteMore info
Life Insurance
Life Insurance
Get flexible life insurance up to the sum of $2,000,000. $2,000,000 59 21 Get quoteMore info
NobleOak Term Life Insurance
NobleOak Term Life Insurance
Receive first month free for life insurance or two months free for combined cover. $15,000,000 69 30 Get quoteMore info
Woolworths Life Insurance
Woolworths Life Insurance
Receive a discount of 10% on life insurance as a Woolworths Rewards Member. T's and C's apply. $1,500,000 65 30 Get quoteMore info

Richard Laycock

Richard is the senior insurance writer at and is on a mission to make insurance easier to understand.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question