
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
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!
An adviser can help you find cover from trusted life insurance brands.
No matter what stage you’re at in life, or what you’d like to protect your family from, Budget Direct offers an insurance product for your needs, and also offers a number of ways to customise that insurance for your particular situation.
Available as a standalone policy, Budget Direct Life Cover provides a lump sum benefit payment when the life insured dies or is diagnosed with a terminal illness and given less than 12 months to live. You can bundle your Life Cover with other products available from Budget Direct including:
Cover is available to Australian residents who are aged between 18 and 64 years (next birthday). The cost of your Budget Direct Life Cover premiums will be calculated based on your age, the Life Benefit Amount you choose and a range of other factors such as your smoking status, gender, lifestyle, occupation, state of health and family history.
The total benefits paid under a Life Cover policy cannot exceed the policy’s maximum benefit amount or any automatic inflation protection increases. Exclusions do apply to cover, such as the fact that no benefit will be paid if you die or are diagnosed with a terminal illness caused by a self-inflicted injury within 13 months of your policy commencing, of any increase in cover or of your policy being reinstated.
Once your application has been accepted by Budget Direct, you’ll receive a policy schedule, a PDS, a personal statement (which includes your personal details and your answers to medical and lifestyle questions) and your payment schedule.
If you have Budget Direct TPD Cover in place, you’ll receive a lump sum benefit payment if you suffer total and permanent disability. This includes:
Cover is available to Australian residents aged between 18 and 59 years (next birthday) at the time they apply.
The total benefits payable to you under Budget Direct TPD Cover cannot exceed the maximum TPD benefit amount and any automatic inflation protection increases under your policy.
Once you’ve been accepted for cover, Budget Direct will send you a policy schedule that contains your cover commencement date. Instances when you cover will cease include:
Some exclusions do apply to Budget Direct's TPD Cover. These include:
Budget Direct Trauma Cover and Budget Direct Trauma Plus Cover provide a lump sum payment if you suffer one of four specific trauma events:
However, Trauma Plus Cover also provides protection for ten additional trauma events, including:
Cover is available to Australian residents aged between 18 and 59 years at the time they apply. The total benefits paid under these policies cannot exceed the maximum benefit amount specified plus any automatic inflation protection increases under your policy.
However, exclusions do apply to cover. Exclusions include:
Under a Budget Direct Children’s Cover policy, a lump sum benefit will be paid when the insured child:
Adults can apply for this cover for their child if the child is aged between two and 17 years (next birthday) and is an Australian resident. The total benefits paid under this policy cannot exceed the maximum benefit amount specified plus any automatic inflation protection increases under your policy.
However, certain exclusions do apply to this policy including:
Once your application has been accepted, you’ll receive a policy schedule detailing your cover commencement date. Cover will end when one of a list of certain events occurs, such as a benefit being paid, the death of your child, or your cancellation of the policy.
Budget Direct Accidental Death Insurance provides a lump sum benefit payment when the life insured suffers an Accidental Death. Cover is available to Australian residents aged between 18 and 64 (next birthday), and premiums are calculated based on your benefit amount, age and gender.
The total amount of the benefits you receive under this type of policy cannot exceed $500,000, plus any automatic inflation protection increases. However, certain exclusions do apply, such as that claims will not be paid if they result from:
If your application is accepted, Budget Direct will send you a policy schedule, PDS and a payment schedule. The cover commencement date is set out in the policy schedule, while cover ends when a certain event occurs, such as when you receive a benefit or when you choose to cancel your policy.
Back to topWhen you need to make a claim, you (or your legal representative in case of your death) can contact Budget Direct by:
The insurer will then send you a claims booklet that you will need to complete, sign and return to Budget. You may also be required to get your medical practitioner to complete a form at your expense.
You’ll need to make a claim as soon as possible after the event or circumstance on which the claim will be based. If you do not notify Budget Direct within a reasonable time period and the company is disadvantaged by the delay, your claim may be reduced or even refused.
Budget Direct has been offering insurance solutions for some of Australia's most valued possessions since 2000. Literally thousands of Budget Direct Car, Home and Contents, Life, Travel and Health insurance policies are issued every week to customers nationwide.
Budget Direct Life Insurance is underwritten by Hannover Life Re of Australasia Ltd (Hannover), a wholly-owned subsidiary of the Hannover Re Group worldwide, one of the largest reinsurers in the world. Budget Direct Life Insurance is promoted and distributed by Auto & General Services Pty Ltd.
The result of all of these innovations and dedication to quality and value is seen in the thousands of policies Budget Direct issues each week. When you sign up or you just need more information or have a quick question, you’ll be able to speak to the 100% Australian call centres used by Budget Direct, and know that the insurer employs over 900 Australians to support local jobs.
Back to topWith Budget Direct life insurance, you can rest assured that your family's wellbeing are in good hands. Applying for Budget Direct life insurance is simple and straightforward, without the hefty price tag.
Want to insure a Porsche 911? Here are things we think you should know.
Find out about how to insure the luxury Mercedes-AMG G 63 4x4 SUV.
Catch the latest deals for cheap campervan hire in Australia. Brands include Hippie Campers, Jucy and Spaceships.
From costs and finance options to what materials you’ll need, learn about bathroom renovations in this comprehensive guide.
Plan your epic road trip around WA with our guide to campervan hire in Broome.
Gumtree reveals data that could help used and new car buyers save money
With great performance and a durable metal design, the Companion 60L portable fridge is a top buy when camping on a budget.
Compare soon-to-launch electric and hybrid cars.
Here’s how you can ensure your treadmill is moved safely and at a convenient time.
From practical steps to key legal documents, here's your checklist for launching an event photography company.