Allianz Life Insurance Review
Allianz Life Insurance is good if you want an award-winning insurer that offers up to $1.5 million in cover and flexible options.
Maximum Entry Age
Terminal Illness Benefit
Allianz life insurance: Our verdict
- It's won multiple awards.
- It's good for flexibility – it comes with different life insurance options to suit your needs.
- With Allianz, you get a death benefit of up to $1,500,000. This is a fairly standard amount, but some insurers such as Suncorp and NobleOak offer between $500,000 and $14,000,000 more.
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Key points of Allianz Life Insurance
- Life Cover. This covers you if you pass away or become terminally ill. It comes with up to $1.5 million cover depending on your age and a $15,000 funeral advancement.
- Critical Illness Cover. Also known as trauma cover, this can pay a lump sum of up to $500,000 for for 14 critical illnesses.
- Permanently Unable to Work cover. This is also known as TPD cover and pays out up to $1.5 million if you become totally and permanently disabled and cannot work anymore.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Allianz life insurance cover eligibility requirements
- Life cover is available if you're aged between 16 and 65.
- Critical Illness cover is available if you're aged between 16 and 55.
- Permanently Unable to Work cover is available if you're between and including 16 and 55.
- live permanently in Australia at the time of their application and be: an Australia or New Zealand citizen or hold an Australia Permanent Residency Visa
- own the policy as an individual
- work in an occupation that is accepted by Allianz Life
- meets health and lifestyle requirements
- For Permanently Unable to Work cover only, you must work on a permanent basis for at least 20 hours per week in an occupation accepted by Allianz
Allianz life insurance pros and cons
Still wondering if Allianz is right for you? Here are the main pros and cons summarised:
- It comes with different life insurance options.
- It's an award-winning and trusted provider.
- $1.5 million is likely enough for most people.
- It's possible to get a higher life insurance benefit elsewhere.
How do I apply for Allianz life insurance?
If you are interested in applying for one of the products available from Allianz, cover can be applied for and purchased entirely online in as little as 12 minutes. As a direct insurance provider, Allianz does not require any medical or blood tests for cover to be put in place. You even have the benefit of being able save your application before hitting the apply button and access and complete your saved application for a period of up to 30 days.
Allianz will require the following details in order for your application to be completed:
- Details of alcohol consumption and whether or not you smoke
- Your weight and height
- Details of pre-existing medical conditions including:
- Any medication you have taken in the past
- Any medical treatment that you have received
- Family medical history
- Your doctor's name and contact details
- Necessary credit card and bank account details for the payment of your policy premiums