In this guide

  • Review
  • Details
    • Key Details
    • Eligibility
    • Add-ons
  • Your reviews
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Bendigo MaxLife Life Protect

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    Bonus
Maximum Cover
$1,000,000
Maximum Entry Age
65
Terminal Illness Benefit
$1,000,000

Summary

Bendigo Bank life insurance offers plenty of choice along with market-competitive funeral cover of up to $15,000.

  • Many will appreciate the chance to get cover with a community-focused Aussie brand.
  • This provider offers flexibility thanks to a heap of policy add-ons such as trauma cover, and TPD insurance.
  • Bendigo Bank’s maximum cover limit of $1,000,000 isn’t bad however we found 12 brands who offer more. These include NobleOak. Medibank and Qantas.

In this guide

  • Review
  • Details
    • Key Details
    • Eligibility
    • Add-ons
  • Your reviews

Details

Key Details

Product Name Bendigo MaxLife Life Protect
Maximum Cover $1,000,000
Terminal Illness Benefit $1,000,000
Funeral Benefit $15,000
Guaranteed Renewability
Cooling-off (days) 30
Online Quote

Eligibility

Minimum Entry Age 18
Maximum Entry Age 65
Expiry Age 75
Medical Exam

Add-ons

TPD Option
Child Benefit Option
Trauma Option

Read a more detailed review on:

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Life insurance

Key points of Bendigo Bank life insurance

  • It pays a lump sum benefit up to $1,000,000 will be paid to your chosen beneficiaries in the event of your death.
  • $15,000 advance payment in the event of your death to assist your family with immediate expenses such as funeral costs.
  • Access to health and wellbeing program AIA Vitality plus get a 10% policy discount if you maintain a Vitality status of Silver or higher.
  • Worldwide cover whilst temporarily travelling abroad.
  • Optional Trauma and Total and Permanent Disability cover.

Bendigo Bank also offers MaxLife Income Protect which can cover up to 70% of your current income (up to $10,00 per month) as a monthly benefit if you are unable to work as the result of an accident. Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

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Eligibility

Applying for Bendigo Bank cover

You must be:

  • An Australian citizen or permanent resident, or a New Zealand citizen.
  • Living permanently in Australia at the time of application.
  • Aged 18-65 at the time of application. For Trauma, TPD or Income Protection cover, the maximum entry age is 59.
  • If you choose TPD cover or the Income Protection product: You must also be employed and working at least 20 hours per week (excludes heavy, manual occupations).

Bendigo Bank life insurance pros and cons

Still wondering if Bendigo Bank is right for you? Here are the main pros and cons summarised:

Pros

  • It gives you access to AIA Vitality.
  • It's a trusted brand.
  • It's good if you don't need more than $1 million in cover

Cons

  • It's possible to get a higher life insurance benefit elsewhere.
  • You might not be interested in AIA Vitality.

How do I make a Bendigo Bank life insurance claim?

To make an Bendigo Bank life insurance claim, you'll you can call them on 1800 104 338, email claims@bendigolife.com.au or mail: Claims Team, Bendigo Life Customer Service
PO Box 6143, Melbourne VIC 3004.

Bendigo Bank life insurance key exclusions

Aside from the eligibility requirements listed above, Bendigo will not provide you cover for the following:

  • Life cover: In the event of suicide within the first 13 months of your policy commencing or reinstated or insured amount increased.
  • TPD and trauma cover: Any deliberately self-inflicted injury or sickness.
  • You do not have the financial capacity to pay your premiums when due. This will result in your cover ending and you cannot make a claim.

Be sure to check with current Product Disclosure Statement (PDS) on the provider's site for the full list of inclusions and exclusions.

Compare other 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
Finder AwardBonus
NobleOak Life Insurance
$25,000,000
74
$25,000,000
96.90%
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 two months free on all cover types apply by 14 June 2024. T&Cs apply.
Medibank Life Insurance
$2,500,000
70
$2,500,000
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.

⭐ Current offer: Save 10% on your first year of Medibank Life Insurance when you apply by 1 July 2024. T&Cs apply.
TAL Accelerated Protection Life Insurance
No set limit
73
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.
RACWA Life Insurance
$25,000,000
74
$25,000,000
96.90%
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. RAC is also WA-based but services all of Australia.

⭐ Current offer: Get two months free when you apply for two or more RAC Life Insurance covers by 30 June 2024. T&Cs apply.
ahm Life Insurance
$1,500,000
55
$1,500,000
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 needed.

⭐ Current offer: Get 10% off your first year of ahm Life Insurance when you apply by 1 July 2024. T&Cs apply.
AAMI Life Insurance
$1,500,000
65
$1,500,000
Data not available
3.1 months
$37,768 million
Our verdict: There’s flexibility with AAMI as you can add another adult to your cover, with a competitive limit of $1.5 million. Easy application process with no medical exams.

⭐ Current offer: Take out a new AAMI Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Suncorp Life Insurance
$1,500,000
65
$1,500,000
Data not available
3.1 months
$37,768 million
Our verdict: Competitive maximum cover limit of $1.5 million. Suncorp lets you change your cover amount by up to $100,000 after a big life event, such as having a baby.

⭐ Current offer: Take out a new Suncorp Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Real Family Life Cover
$1,000,000
64
$1,000,000
88.90%
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.
HCF Life Protect Insurance
$1,500,000
65
$1,500,000
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.
Zurich Ezicover Life Insurance
$1,500,000
69
$1,500,000
98%
3 months
$24,495 million
Our verdict: Good if you want a cheap policy from a well-regarded insurer – its 98% claims acceptance rate is higher than any other provider on Finder. Zurich keeps things simple: unlike others, it doesn’t go in for optional add-ons such as TPD or trauma cover.

⭐ Current offer: Policy discounts include 10% off for your partner if you sign up for a joint policy. You can also get 5% off income protection if you buy it alongside your life cover.
Insuranceline Life Cover
$1,500,000
65
$1,500,000
90.10%
3.1 months
$37,768 million
Our verdict: Insuranceline pays a lump sum of up to $1.5 million. Once your cover’s in place, you can increase it after a big life event, such as having a baby, without further medical assessment.

⭐ Current offer: Protect your family with an Insuranceline policy and you can go into the draw for a chance to win a $1,000 gift card. New Customers only, T&Cs apply. Competition entries close on 31 July 2024.
Guardian Life Insurance
$1,500,000
64
$1,500,000
88.90%
2.4 months
$53,238 million
Our verdict: Competitive cover limit of $1.5 million. You can add children’s cover of up to $50,000 – most policies don’t include this option.
RACQ Life Insurance
$1,000,000
65
$1,000,000
97%
Data not available
Data not available
One of just 4 insurers to offer children’s insurance. Get cover of up to $50,000 for 7 serious illnesses. RACQ offers 3 ways to save on life insurance: RACQ members get 10% off when buying online. There’s a 5% joint policy saving. Plus you could score 10% off your premiums if you achieve Silver status with AIA Vitality. You can apply for cover online or over the phone.
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