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Guardian Life Insurance Review

Get up to $1,500,000 of cover with Guardian Life Insurance and receive policy features for families that can’t be found in some other competitors.

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$1,500,000

Maximum Cover

64

Maximum Entry Age

$1,500,000

Terminal Illness Benefit

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Details

Product NameGuardian Life Insurance
Maximum Cover $1,500,000
Terminal Illness Benefit$1,500,000
Funeral Benefit $15,000
Guaranteed Renewability
Cooling-off (days)30
Online Quote

Our Verdict:

  • A great option for parents: unlike many other brands we compare, Guardian has a child trauma option. Children's cover typically costs $9.52 and payouts of up to $50,000 may be available.
  • Guardian Life Insurance's parent company Hannover has an average claim turnaround time of just 2.2 months for death cover – lower than the industry average of 2.9 months.

  • Unlike brands such as NobleOak and AAMI, Guardian's life policies aren't fully underwritten which could put off some.
  • There's no future insurability benefit with Guardian. Future insurability is a policy feature that automatically increases your cover benefit after certain life events.

Find out more about Guardian's main life policy options

life insurance icon

Guardian Life Cover

Key points of Guardian Life Insurance

Life Insurance provides a lump sum payment in the event of your death or terminal illness. With Guardian Insurance, you are able to apply for up to $1,500,000 in coverage.

  • Applicants must be Australian residents aged 18 - 64 years old
  • No medical examination or blood tests required
  • Guaranteed renewable policy for life
  • Choose monthly or fortnightly premium payments
  • 30-day money-back guarantee
  • Ages 18-44: Benefit of up to $1,500,000.
  • Ages 45-54: Benefit of up to $800,000.
  • Ages 55-59: Benefit of up to $500,000.
  • Ages 60-64: Benefit of up to $300,000.

Note: Be sure to check the Product Disclosure Statement (PDS) on Guardian's website for full terms and conditions.

Along with basic cover, Guardian also offers a range of benefits so that you can tailor your insurance package to suit your needs and offer a greater peace of mind.

Options for Guardian Life Insurance
  • Children's Cover: A benefit amount from $20,000 up to $50,000 is paid if your child suffers a serious injury or illness such as meningitis, paralysis, and encephalitis. This benefit is also paid if the child suffers an accidental death. This option can help with extra costs such as medical expenses and school tuition. Eligibility: Insured child must be aged 2-17, the Policyholder must be aged 18-64 and the legal guardian or parent of the child.
  • Serious Illness Insurance: A benefit amount from $50,000 up to $500,000 is paid to you if you suffer from a serious illness, such as malignant cancer, stroke, heart attack or have coronary artery bypass surgery. Eligibility: Be an Australian resident aged 18-59.
  • Total and Permanent Disability Insurance: A benefit amount from $50,000 up to $1,000,000 may be paid to you if, as a result of injury or illness you are unable to work, or if you suffer the loss of limbs or sight, or due to loss of independent existence and you require care from an external party. Eligibility: Be an Australian resident aged 18-59, working at least 20 hours per week.

life insurance shield

Key points of Funeral Insurance

Funeral insurance is designed to cover the cost of a funeral and final expenses in the event of your death. Guardian provides up to $15,000 in coverage. There is guaranteed acceptance for applicants who are between the ages of 40 to 79.

Guardian funeral insurance benefits
  • The chosen benefit amount (from $3,000 up to $15,000) is paid in the event of your death by natural causes (after the first 12 months of the policy).
  • Triple benefit paid in the event of accidental death – a maximum of $45,000 (from day one of the policy).
  • Australian residents aged 40 to 79 are guaranteed acceptance
  • No medical or health questions are required for application.
  • There are single and joint plan options available.
  • Choose to make either monthly or fortnightly premium payments.
  • Comes with a 30 days-day money-back guarantee

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

How to make a claim with Guardian life insurance

Your beneficiary, family member or yourself should contact Guardian and let them know that you intend to lodge a claim. A Claims Booklet should then be sent to you, which will need to be filled out. You will also need to provide the following documents:

  • Proof of death
  • Proof of the age of the insured person
  • Proof of the claimants identity
  • Proof of your relationship to the insured person
  • Original insurance policy document and policy schedule
  • Direct Debit Authority (if you would like the benefit payment to be deposited into a bank account)

Your life insurance claim is eligible to be paid by Guardian Insurance as soon as a completed Claim Form is received together with the required supporting documents. Accidental Death Claims will be paid as soon as proof of Accidental Death is received.

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
TAL Accelerated Protection Life Insurance
No set limit
73
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.
NobleOak Life Insurance
Finder AwardBonus
NobleOak Life Insurance
$25,000,000
74
$25,000,000
96.90%
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 15 March 2024. Offer T&Cs on insurer website apply.
Medibank Life Insurance
$2,500,000
70
$2,500,000
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
$1,500,000
55
$1,500,000
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 needed.
RAC Life Insurance
$25,000,000
74
$25,000,000
96.90%
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.

⭐ Current offer: Receive one month free when you apply for Life Insurance by 28 March 2024. T&Cs apply.
AAMI Life Insurance
$1,500,000
65
$1,500,000
Data not available
3.1 months
$37,768 million
Our verdict: There’s flexibility with AAMI as you can add another adult to your cover, with a competitive limit of $1.5 million. Easy application process with no medical exams.

⭐ Current offer: Enjoy 5% off your premiums every year for the life of the policy when you take out a new AAMI Life insurance policy. Offer ends 8:59am (AEST) 2nd of April 2024. New customers only. T&Cs apply.
Suncorp Life Insurance
$1,500,000
65
$1,500,000
Data not available
3.1 months
$37,768 million
Our verdict: Competitive maximum cover limit of $1.5 million. Suncorp lets you change your cover amount by up to $100,000 after a big life event, such as having a baby.

⭐ Current offer: Enjoy 5% off your premiums every year for the life of the policy when you take out a new Suncorp Life insurance policy. Offer ends 8:59am (AEST) 2nd of April 2024. New customers only. T&Cs apply.
Real Family Life Cover
$1,000,000
64
$1,000,000
88.90%
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.
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