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HBF Life Insurance Review

Simple and affordable cover are two reasons to think about HBF Life Insurance, but a maximum cover limit of $1,500,000 isn't the highest sum around.

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HBF is a relatively niche name in Australian life insurance – you won't find policy data for the brand on government consumer site Moneysmart. That said, the Western Australia-based company has been providing everyday Aussies with private health insurance for more than 70 years offers a suite of insurance products including Ezicover life insurance and income protection. HBF maintains a focus on straightforward, highly accessible policies that deliver effective cover for a wide range of needs.

What policies are offered?
  • Life insurance
  • Income protection
  • Funeral Advantage
Maximum cover
  • $1,500,000 (up to the age 45)*
Age of entry19 - 69 years old*
How do I apply?Online or over the phone.

*Based on HBF EziCover Life Insurance policy.

Pros and cons of HBF Ezicover Life Insurance policy.

  • Simple and affordable cover with useful features.
  • Level premiums are not offered.
  • Straightforward applications online or over the phone.
  • No TPD or Trauma insurance options available.
  • 10% discount if your partner applies at the same time.
  • Future insurability benefit.
You can get a direct quote for HBF Ezicover life insurance by selecting "get quote" in the form above. Once you get your quote, just follow the prompts to purchase your cover.

You can also contact HBF yourself at 02 8895 0698.

Can I get cover directly from HBF without going through an adviser?

Yes. All of HBF's life insurance policies are part of the Ezicover range, which is designed to be easy to understand and simple to apply for.

You can get easy online quotes for the following products:

  • HBF Ezicover Life Insurance. Offers a lump sum payment of up to $1,500,000 if you die or get a terminal illness.
  • HBF Ezicover Funeral Advantage. Offers up to $15,000 to pay for your funeral when you die.
  • HBF Ezicover Income Protection. Offers up to $12,000 per month if an accidental injury keeps you from being able to work.

What products are offered by HBF life insurance?

HBF offers three types of Ezicover:

  • Life insurance: A lump sum benefit paid in the event of death or terminal illness.
  • Income protection: Ongoing payments if sickness or injury means you're unable to work.
  • Funeral Advantage: Up to $15,000in the event of death, with premiums that don't increase as you get older.

What are the features of these policies?

This policy allows you to take out up to $1,500,000 of cover, paid in the event of death or terminal illness. You're covered anywhere in the world and you can access a range of long-term cover features.

  • Future insurability benefit. Increase your cover by up to $100,000 each year until the age of 54 without having your personal circumstances reassessed. You can do this within 30 days of the policy anniversary following marriage, the birth of a child, divorce, the death of a spouse or becoming a fulltime carer.
  • Guaranteed renewable. This policy cannot be cancelled by the health fund, as long as you meet policy obligations.
  • Inflation protection. Receive annual benefit increases of either 5%, or an amount based on the consumer price index, whichever is greater.
  • Advance benefit. $15,000 will be paid out in advance to help with immediate expenses.
  • Discounts. Your first month of cover is free, with 5.7% off if you pay your premiums annually and 10% off your partner's policy if your policies are purchased at the same time.
  • Accessibility. Available until the age of 69, making it more accessible than many other policies. You can take out a policy online or over the phone and will generally not need to undergo any medical tests.

This is a flexible income protection policy suitable for workers, homemakers, contractors and more. Available between the age of 19 and 60, this policy will pay monthly benefits of up to 75% of your pre-disability income, up to a maximum of $12,000 per month, as well as other benefits.

  • Lump sum benefits. A lump sum benefit will be paid for heart attack, cancer or stroke, as well as a $500 return-to-work payment at the end of the benefit period.
  • Waived premiums. Premiums are waived while receiving benefit payments.
  • Affordable options. Premiums are tax deductible for most, the first month of cover is free and you can get a 5.7% discount if you pay your premiums annually, as well as a 5% discount if you already hold an HBF Ezicover life insurance policy.
  • Flexibility. Inflation protection ensures you retain suitable cover if your income increases and you can reduce your cover if your income decreases. A Premium Holiday feature allows you to pause cover if needed.

There are two cover types within this policy to suit a range of situations:

  • Sickness and injury: Pays a benefit if you are unable to work due to sickness or injury. Available to people who are permanently employed and working between 20 and 60 hours per week. If you're employed non-permanently you'll still need to meet this criteria, but also hav consistent income for at least the last 2 years.
  • Injury-only: If you have a medical condition that makes it difficult for you to qualify for the other cover types, you may be offered injury-only income protection.

HBF no longer offers Funeral insurance to new customers. We have left some references to this type of cover for existing clients.

A straightforward funeral plan.

  • Choose cover in $1,000 increments up to $15,000.
  • Premiums are guaranteed not to change for any reason other than government taxes and charges.
  • You won't pay more than the sum insured.
  • Accidental death cover only for the first 12 months.

Compare direct life insurance policies below

Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
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.
Medibank Life Insurance
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.
TAL Accelerated Protection Life Insurance
No set limit
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.
ahm Life Insurance
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.
RACWA Life Insurance
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. RAC is also WA-based but services all of Australia.
AAMI Life Insurance
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: Take out a new AAMI Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Suncorp Life Insurance
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: Take out a new Suncorp Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Real Family Life Cover
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.

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

Ages of eligibility

PlanEntry age*
Ezicover Life InsuranceBetween 19 and 69
Ezicover Income ProtectionBetween 19 and 60
Ezicover Funeral AdvantageBetween 35 and 70

How are premiums calculated?

With all Ezicover policies your premiums are dependent on:

  • Cover. The higher the sum insured or benefits available, the higher the premiums.
  • Age. For funeral cover your premiums are based on the age you are when your cover begins. For income protection and life insurance, your premiums will typically increase based on age.
  • Gender. Premiums are typically higher for males.
  • Smoking. Non-smokers who have not smoked tobacco or any other substance in the last 12 months will generally pay lower premiums.

For income protection and life insurance, your premiums are based on your health and your pastimes. For income protection cover your premiums are also affected by how hazardous your occupation is and the other terms of your policy.

Are there any other charges to be aware of?

You will be responsible for any direct debit fees charged by your financial institution. Government taxes may also be included in the price of your premiums.

It's also important to note that income protection benefits are generally tax assessable, which should be considered when taking out cover.

About HBF

Starting life in 1941 with a focus on health insurance for Australians, HBF expanded to offer additional types of cover for its members, including life insurance plans. Today it's focused on retaining the feel, transparency and "members first" ethos of a members fund, while simultaneously finding new ways to offer more value to members and remain a competitive option in today's insurance marketplace, for the best of both worlds.

What are some of the key exclusions for HBF life insurance?

Life insurance and funeral insurance

For all life insurance policies, benefits are not payable for suicide within the first 13 months (12 months for funeral cover) of policy commencement or reinstatement .

Income protection

For income protection insurance you cannot claim benefits for:

  • Mental health disorders
  • Self harm
  • Uncomplicated pregnancy
  • Cosmetic surgery, unless resulting in over 90 days of disability
  • Cancer, stroke or heart attack within the first 90 days of policy commencement or reinstatement

For all types of cover you have a duty of disclosure and must inform the insurer of anything that may make insuring you riskier, such as any pre-existing health issues you may have.

How much will it cost?

It's different for everyone, but to give you some idea, a 37 year-old male, non-smoker in NSW would pay $38.66 for $500,000 worth of cover*

Here's what will factor into your cost with HBF

HBF will base your costs on a number of factors, including:

  • Age
  • Gender
  • Type of cover
  • Benefit amount
  • Smoking status

*Quote generated on 05 July 2021.

How to lodge a claim

After you purchase your cover, HBF will give you a policy document that explains the entire claims process.

Why you can trust Finder's life insurance experts


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