Budget Direct Life Insurance

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Name	Product	Maximum Cover	Maximum Entry Age	Minimum Cover	Terminal Illness Benefit
NobleOak Life Insurance 2019 Winner		$15,000,000	69	$50,000	$3,000,000	Get 1 month free Life Insurance cover. Offer ends June 30, 2020. T&Cs apply.	Get Quote View details	Compare	loading Fetching your data...
Real Family Life Cover		$1,000,000	64	$100,000	$1,000,000	Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .	Get Quote View details	Compare	loading Fetching your data...
Medibank Life Insurance		$2,500,000	70	$100,000	$2,500,000	10% discount for Medibank health members.	Get Quote View details	Compare	loading Fetching your data...
Zurich Ezicover Life Insurance		$1,500,000	69	$50,000	$1,500,000	Get your first month free. T&Cs apply.	Get Quote View details	Compare	loading Fetching your data...
ahm Life Insurance		$1,500,000	65	$100,000	$1,500,000	ahm Health members can save 10% off premiums.	Get Quote View details	Compare	loading Fetching your data...
ANZ Life Insurance		$2,000,000	59	$50,000	$2,000,000	Get Quote View details	Compare	loading Fetching your data...
Guardian Life Insurance		$1,500,000	64	$100,000	$1,500,000	Get Quote View details	Compare	loading Fetching your data...
InsuranceLine Life Cover		$1,500,000	65	$100,000	$1,500,000	Get a $100 bonus gift after 2 months. Plus, and get 12 months cover for the price of 11 if you pay annually. T&Cs apply.	Get Quote View details	Compare	loading Fetching your data...

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Life Insurance Policies from Budget Direct Australia

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:

• TPD Cover
• Trauma Cover
• Accidental Death Insurance
• Children’s Insurance

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.

Total & Permanent Disability (TPD) Cover

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:

• The Loss of Use of your Limbs and/or Sight
• You are Unable to Work
• You suffer a Loss of Independent Existence.

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:

• Your receipt of a benefit payment
• Your death
• The cancellation of cover
• The policy anniversary following your 65th birthday.

Some exclusions do apply to Budget Direct's TPD Cover. These include:

• No benefit will be paid on the life insured if he or she suffers a Total and Permanent Disability that is a result of an injury caused or exacerbated by a deliberate act performed by the life insured.
• Budget Direct will not pay a TPD benefit in cases where the insurer has previously agreed a special term with you that specifically excludes the event or condition on which your claim is based. Any such agreement will appear on your policy schedule.

Trauma and Trauma Plus Cover

Budget Direct Trauma Cover and Budget Direct Trauma Plus Cover provide a lump sum payment if you suffer one of four specific trauma events:

• Cancer
• Coronary Artery Bypass Surgery
• Heart Attack
• Stroke.

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:

• No benefit will be paid if the trauma is a result of a deliberate act performed by you
• If the trauma condition first becomes apparent during the policy’s qualifying period

Budget Direct Children’s Cover

Under a Budget Direct Children’s Cover policy, a lump sum benefit will be paid when the insured child:

• dies, due to either illness or accident
• is diagnosed with a terminal illness and has a life expectancy of less than 12 months
• suffers one of several specified injuries or illnesses, such as cancer, encephalitis, loss of sight, loss of speech, paralysis, severe burns or stroke

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:

• your child will not be covered for congenital conditions
• claims resulting from intentional acts by the policy owner
• injuries or illnesses suffered within three months of the commencement of your policy

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

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:

• Intentional self-inflicted injury
• Engaging in illegal or criminal acts
• The consumption of drugs or alcohol
• Engaging in professional sport
• War

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.

How do I make a claim?

When you need to make a claim, you (or your legal representative in case of your death) can contact Budget Direct by:

• Phoning 1800 700 349
• Emailing life.claims@budgetdirect.com.au
• Writing to Budget Direct Life Insurance, PO Box 342, Toowong QLD 4066

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.

Compare history

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.

Why consider Budget Direct Life Insurance?

With 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.