Get protection for the unexpected with Insuranceline Life Insurance policies
Insuranceline has grown to become one of the leading direct life insurance companies in Australia with a wide range of policies to protect you and your family in the event of death, illness or injury. With Insuranceline you can choose from Life, Income Protection and Funeral Insurance to cover you from the unexpected.
Applying is easy with no medical exams required and all policies are underwritten by TAL Life Limited (except for Involuntary Unemployment cover under Income Protection which is issued by St Andrew's Insurance Pty Ltd).
This review will explore each of the different policies available from Insuranceline and some important things to know before signing up for cover.
What policies are available?
- Provides a tax-free, lump sum benefit:
- Between $100,000 and $1.5 million on the Life Cover plan.
- Up to $250,000 on the Basic Life Cover plan available for people who can’t qualify for Life Cover due to their health, lifestyle or job.
- Loved ones can use the proceeds of your policy to pay the mortgage, manage expenses and maintain their lifestyle
- Up to $250,000 of Basic Life Cover available for people who can’t qualify for Life Cover due to their health, lifestyle or job
- Advance payment of up to $10,000 to help with legal costs and any other immediate costs.
Optional Illness and Injury Cover
- Available with Insuranceline Life Insurance
- Provides a lump sum payment of up to $250,000 when you suffer a serious illness or injury
- Provides Major Illness, Cancer and Serious Injury Cover
- Designed to help with medical and other out-of-pocket expenses while you recover
- Replaces your income when you are unable to work due to injury or illness
- Ongoing monthly benefit replaces up to 85% of your income
- Maximum monthly benefit of $10,000 on the Rate Saver plan.
- Time Saver Cover option offers maximum monthly benefit of $7,500
- Rate Saver plan also offers
- Choice of benefit periods up to five years
- Choice of waiting periods of 14, 28, 60 or 90 days.
- Time Saver offers
- A benefit period up to 24 months.
- A fixed waiting period of 28 days
- Optional Involuntary Unemployment Cover provides up to 85% of your income (up to $3,000) per month for up to three months
- Up to $500,000 Optional Permanent Disability Cover also available
- Other options include $50,000 Kids Injury Cover and up to $3,000 per month Homemaker Cover
- Choose a payout of up to $15,000 to help your family cover your funeral costs
- Minimum cover $2,000
- Benefit usually paid within 24 hours of lodging a completed claim
- Guaranteed acceptance for Australians aged 21 to 80 on Level Cover - no medicals required
- Level premiums will never increase (unless you make changes to your policy)
- Capped premiums
- Accidental death cover applies from day one
- Once you turn 90 there's no more to pay (on the Level Cover)
- Once you've paid the cover amount there's no more to pay (on Level Advantage cover)
- Claims handled by a dedicated claims manager
- Optional extras include Extra Accidental Injury Cover and Extra Accidental Death Cover
Final Expenses Insurance
- Tax-free benefit of up to $30,000
- Benefit doubles to a maximum of $60,000 in the event of accidental death
- Designed to help your loved ones cover final expenses.
- Express payout of $4,000 usually offered within 24 hours of a completed claim
- Accidental death covered for first 12 or 24 months - any cause of death covered after that
- Full benefit paid when you reach 90 years of age
- Choose from Stepped, Five-yearly Stepped or Level premiums
- Free, easy will kit
More benefits of taking out insurance with Insuranceline
- Quick application online or over the phone, with no medical tests required
- Simple claims process handled by an experienced claims manager
- Discounts available when you pay your premium annually, add a family member to your policy or take out a high level of cover
Some questions you might have about your Insuranceline Insurance
Who can apply?
This section will give an overview of the eligibility requirements for different types of cover available from Insuranceline:
- Life Cover: To qualify for Insuranceline Life Insurance you will need to be an Australian resident between 18 and 65 years of age. You can apply for up to $1.5 million of cover.
- Income Protection: If you want to take out Income Protection Cover from Insuranceline, you’ll need to be an Australian resident between 18 and 60 years of age.
- If you’re happy to answer some health and lifestyle questions you can apply for Rate Saver Cover (maximum monthly benefit of $10,000), but if you’re pressed for time you can apply for Time Saver Cover (maximum monthly benefit of $7,500).
- If you're after Involuntary Unemployment Cover you'll need to be a permanent employee working 30 hours and have commenced employment six months before the cover start date.
- Funeral Insurance: Insuranceline Funeral Insurance is available to Australian residents between the ages of 21 and 80. Cover is free once you reach your 90th birthday, and you can apply for a cover amount between $2,000 and $15,000.
- Final Expenses Cover: Insuranceline Final Expenses Insurance allows you to take out up to $30,000 of protection. Guaranteed acceptance with no medical or blood tests is offered to Australians between 50 and 75 years of age. If your policy is still in force and paid up when you turn 90, you will pay no more premiums and your cover amount will be paid to you.
- Optional Cover: If you want to add Optional Illness and Injury Cover to your Life Insurance, you will need to meet the policy eligibility requirements for Life Cover outlined above.
How do I Make a Claim for Insuranceline Insurance?
If you need to make a claim on your Insuranceline policy, phone the relevant number listed in your PDS as soon as possible. Insuranceline will then send out a claim form to be filled out. Alternatively you can go online and download one. You will need to complete the relevant forms and return them to Insuranceline, along with any other information that may be requested - such as medical examinations or tests. Your claim will then be assessed.
Insuranceline offers a wealth of viable options to insurance customers, so make sure to compare its offerings with others on the market before deciding on the best policy for you.