Australian Seniors Life Insurance Review

You may want to check whether $200,000 in cover limits is enough for your needs with Australian Seniors Life Insurance.

Our Verdict:

  • This brand’s maximum entry age of 79 is five years above the closest competitor from 18 policies we reviewed on our site.
  • Despite a low maximum cover limit of $200,000, this provider does offer accessibility thanks to benefit amounts starting from $10,000.
  • Policies aren’t very flexible compared to the likes of NobleOak or Qantas. With Australian Seniors, you can’t add TPD or trauma cover to your policy.

Review by our life insurance senior writer James Martin

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Maximum Cover


Maximum Entry Age


Terminal Illness Benefit

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Product NameAustralian Seniors Life Insurance
Maximum Cover $200,000
Terminal Illness Benefit$200,000
Funeral Benefit $20,000
Guaranteed Renewability
Cooling-off (days)30
Online Quote

Australian Seniors has been looking after the insurance needs of older Australians since 1998. It offers a range of insurance products that have been specifically designed for the mature market, including home insurance, car insurance and travel insurance. Australian Seniors also provides Funeral Insurance.

What types of life insurance are offered by Australian Seniors?

Australian Seniors offers two life insurance products to mature Australians: Final Expenses Insurance and Accident Insurance.

Life Insurance

Australian Seniors life insurance will pay your beneficiaries a lump sum if you pass away. The maximum benefit amount is $200,000. The insurer won't cover deaths as a result of self-inflicted injuries that occur within the first 13 months of you taking out a policy. You may be able to get up to 20% of the life insurance benefit in advance to assist with funeral expenses.

Accidental Death.

The Accidental Death Benefit is two times the Life Insurance Benefit amount. If the life insured dies as the direct result of an accident within 90 days of the accident, then both the accidental death benefit and the life benefit are payable on an eligible claim.

Terminal illness.

This pays out if you're diagnosed with a terminal illness and you have a life expectancy of 24 months or less. See the product disclosure statement for the T&Cs around circumstances where this cover will not be applicable.

Am I eligible for Australian Seniors life insurance?

To apply, you must be an Australian resident between 45 and 79 years of age. During the application process, you will also need to meet the health and lifestyle criteria set by the underwriter to be approved for cover.

Compare direct life insurance policies below

Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
1.1 months
$24,483 million
Our verdict: Finder Life Insurance Award winner for the last 5 years in a row. Good value for money, simple application process and a high claims acceptance rate.

⭐ Current offer: Get one month free for a limited time - apply by 21 December 2023. Offer T&Cs on insurer website apply.
TAL Accelerated Protection Life Insurance
No set limit
Not stated
Data not available
1 months
$249,285 million
Our verdict: One of Australia's leading life insurers. Automatically includes child critical illness cover. Plus, it comes with a level premium option (e.g. costs remain similar as you get older).

⭐ Current offer: Get up to 15% off your TAL Life, Trauma or TPD insurance policy for life - if you have a Body Mass Index (BMI) between 19 and 28 at the time of your application. Offer T&Cs on insurer website apply.
Medibank Life Insurance
Data not available
Data not available
Data not available
Our verdict: Medibank offers a higher payout limit ($2.5 million) than 15 other providers. Get a 10% discount if you're already a Medibank Health Insurance member.
ahm Life Insurance
Data not available
Data not available
Data not available
Our verdict: ahm offers a simple application process. You can be approved online or over the phone. There are no medical or blood tests required.
HCF Life Protect Insurance
Data not available
Data not available
Data not available
Our verdict: Similar cover to other insurers ($1.5 million). A good discount for HCF members of 10% and an easy initial quote process.

⭐ Current offer: Eligible HCF Members receive 10% premium discount and HCF Thank You rewards.
RAC Life Insurance
1.1 months
$24,483 million
Our verdict: RAC’s maximum death cover limit of $25 million is one of the highest limits you’ll find, including $5 million in TPD insurance. You can get an online quote, but you’ll need to call RAC to get trauma cover. Benefit from added peace of mind with fully underwritten insurance.

Real Family Life Cover
2.4 months
$53,238 million
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams. But households with larger debts may need more than a $1 million payout.

⭐ Current offer: Get back 10% of the premiums you’ve paid after 1 year.

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

Who is Australian Seniors ?

Established in 1998, Australian Seniors aims to meet the cover needs of mature Australians. The company's principals have more than 27 years of experience in providing quality insurance products for senior citizens, with a focus on innovation and customer satisfaction. People aged over 50 face different risks and have different needs to younger Australians, so Australian Seniors offers policies designed to suit the mature population.

As well as the life insurance products detailed above, Australian Seniors offers home, car and travel insurance. Its Home & Contents Insurance is available in two forms: Essential Cover and Top Cover. If risks like theft, fire or storm interfere with your home or contents, these policies are designed to provide the cover you need.

If you're looking to insure your vehicle, Australian Seniors offers Seniors Car Insurance, which has 4 types of cover: Comprehensive, Third Party Fire & Theft, Third Party Property Damage, and Pay as You Drive.
Finally, Australian Seniors also offers Seniors Travel Insurance to suit the needs of both domestic and international travellers.

Seniors Life Insurance general conditions

As with any insurance policy, there are a number of general conditions that apply to Seniors Life Insurance. These include::

  • You can continue your policy for consecutive yearly periods by continuing to pay the premium. The terms and conditions will apply to your policy per the PDS and your schedule.
  • Your policy expires at the end of the period of insurance which is when you reach age 85, a claim is paid in full or the policy is cancelled, whichever occurs first.
  • Your premiums are generally not tax-deductible and any benefits you receive are typically not assessable income for tax purposes.
  • You must be an Australian resident to qualify for cover.
  • All payments between you and your insurer must be made in Australian currency.

When will I not be covered by Seniors Life Insurance?

You will not be covered in the event of death as a result of suicide or self-inflicted injury that occurs within 13 months of the acceptance date, reinstatement or increase of your cover. For the full list of exclusions, check the current Product Disclosure Statement (PDS) on the provider's website.

How do I make a claim with Australian Seniors life insurance?

You or your beneficiaries need to notify Australian Seniors as soon as possible after an event which may lead to a claim. You/they will have to obtain a claim form, fill it out and submit any other evidence which the insurer requests.

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