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Citibank Life Insurance

Find suitable protection for you and your family with Citibank Life Insurance.

Updated

Citibank offers a wide range of protection options to keep you and your family financially secure in the event of a serious illness, injury or death. Whether your looking to receive a replacement income if you are forced out of work due to illness or injury or you are looking for a financial safety net for your family should you pass away, Citibank has a number of viable options.

This explore the benefits of the different cover options available from Citibank and common questions you might have about the cover offered.

Citibank Life Insurance is not currently available via finder. You can visit their website at www.citibank.com.au for more information or compare alternative options available below.

Compare direct life insurance brands below

Name Product Maximum Cover Maximum Entry Age Minimum Cover Terminal Illness Benefit
NobleOak Life Insurance
$15,000,000
69
$50,000
$3,000,000
Get 1 month free Life Insurance cover. Offer ends June 30, 2020. T&Cs apply.
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 Rewardâ„¢ .
Medibank Life Insurance
$2,500,000
70
$100,000
$2,500,000
10% discount for Medibank health members.
Zurich Ezicover Life Insurance
$1,500,000
69
$50,000
$1,500,000
Get your first month free. T&Cs apply.
ahm Life Insurance
$1,500,000
65
$100,000
$1,500,000
ahm Health members can save 10% off premiums.
ANZ Life Insurance
$2,000,000
59
$50,000
$2,000,000
Guardian Life Insurance
$1,500,000
64
$100,000
$1,500,000
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.
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Compare up to 4 providers

What policies does Citibank offer?

Prime Life Cover

  • Choose from $100,000 up to $1 million of cover
  • Pays a lump sum benefit to help your family secure their financial future if you pass away
  • Simple to apply online or over the phone - no medical or blood tests required
  • $15,000 advance benefit payment to help cover funeral expenses
  • Option to add TPD Cover (up to $750,000), Trauma Cover (up to $250,000) and $15,000 of Child Cover
  • Cover increases each year in line with inflation
  • Pay premiums fortnightly, monthly or annually

Prime Income Cover

  • Replaces up to 75% of your income when you are unable to work due to illness or injury
  • Maximum monthly benefit of $10,000
  • Pays an ongoing benefit for up to two years until you get back on your feet
  • Straightforward application over the phone
  • No medical or blood tests required – you just need to answer a few simple health and lifestyle questions
  • Premium payments are usually tax-deductible
  • Cover for specific injuries, for example a fractured arm or leg, even if you are able to continue working
  • Premiums waived when you are on parental leave or involuntarily unemployed
  • Worldwide cover

TPD Insurance

  • Only available as an additional-cost option on a Prime Life Cover policy
  • Pays a lump sum benefit of up to $750,000 to help support your family and lifestyle if you become totally and permanently disabled
  • $100,000 minimum cover amount
  • TPD Cover cannot exceed your Prime Life Cover sum insured

Trauma Cover

  • Only available as an additional-cost option on a Prime Life Cover policy
  • Pays a lump sum benefit of up to $250,000 when you suffer a specified medical condition
  • Maximum amount of cover you can apply for is 50% of your Prime Life Cover sum insured
  • Benefit can be used to pay bills and maintain your standard of living

Prime Accident Cover

  • Provides up to $1 million of cover for you and your spouse in the event of accidental death
  • Minimum level of cover $150,000
  • $100,000 of serious injury cover included
  • Optional children’s accident cover available up to a maximum of $25,000
  • Simple to apply online with no health or lifestyle questions to answer
  • Pay your premiums fortnightly, monthly or annually
  • Cover begins as soon as your application is received
  • $15,000 advance payment of accidental death benefit to help cover funeral expenses
  • Cover applies worldwide 24/7
  • 5% joint policy discount when you and your partner both take out Prime Accident Cover on the same policy

Who can apply?

To be eligible for a Citibank Prime Life or Prime Accident Cover policy you will need to be between 18 and 65 years of age at the time of application. Cover expires when you reach 75 years of age and the maximum amount of cover you can apply for is also influenced by your age:

  • Age 18 to 45: can apply for up to $1 million cover
  • Age 46 to 54: can apply for up to $750,000 cover
  • Age 55 to 65: can apply for up to $500,000 cover

If you choose Prime Income Cover, you will need to be aged between 18 and 59 years when you apply, and cover ends when you reach 65 years of age. You can apply for a monthly benefit of between $1,000 and $10,000.

How do I make a claim for Citibank Insurance?

The insurer needs to be notified as soon as reasonably possible after any insured event occurs, but within no more than 30 days. The process of making a claim is simple:

  1. Call or email the insurer for a claims form. You can phone 1800 042 349 or email claims@primecover.com.au.
  2. Fill out the claims form.
  3. Mail the completed claims form to the Prime Cover Claims Team.

The insurer may also request additional information to process your claim, such as medical report or death certificate. You must supply these items as soon as possible to ensure the prompt and effective handling of your claim.

Some questions you might have about your Citibank Insurance

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