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

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Maximum Cover


Maximum Entry Age


Terminal Illness Benefit

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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:

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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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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 Fully Underwritten? Terminal Illness Benefit Optional Extras
NobleOak Life Insurance
TPD cover, Trauma cover
Get your one month free when you buy NobleOak Life Insurance policy. Offer ends 31 October 2021. T&C's apply.
Real Family Life Cover
TPD cover, Trauma cover
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .
Zurich Ezicover Life Insurance
No optional
Get your first month free and a 10% discount by taking out a second life insurance policy (discount applies to the second policy). Customers who suffer a serious side effect from an approved COVID vaccination may be eligible for a $50,000 one-off payment. T&C’s apply.
Medibank Life Insurance
TPD cover, Trauma cover
Medibank health members save 10% on premiums every year. T&Cs apply.
RAC Life Insurance (Only available in Western Australia)
TPD cover, Trauma cover
When you purchase RAC Life Insurance, WA residents receive complimentary RAC membership which includes access to discounts on fuel, savings on shopping, entertainment and more. T&Cs at

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