Bendigo Bank Life Insurance Review

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.

Review by our life insurance senior writer James Martin

No reviews yet. Write a review


Maximum Cover


Maximum Entry Age


Terminal Illness Benefit

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!


Product NameBendigo 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

Read a more detailed review on:

life insurance shield

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.

coverage icon


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:


  • 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


  • 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 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
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.

Or speak to a life insurance specialist to help you find a policy for your needs

Enter your details and one of our partner brokers will call you. They will discuss your quote, options and available products. Not available to those over 75 years old.

Do you smoke?

An adviser can help you find cover from trusted life insurance brands.

  • Get competitive quotes from multiple brands
  • Lower rate of declined claims (according to ASIC)
  • Save time and effort

Lender Logos

Why you can trust Finder's life insurance experts


We're free

You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
expert advice

We're experts

Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.

We're here to help

Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Go to site