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Kogan Life: Insurance with peace of mind

Maurice Thach
Maurice Thach
Kogan Life Insurance

Kogan, one of Australia's largest online retailers has teamed up with Greenstone Financial Services and Hannover Life Re of Australasia (Hannover) to provide Australians with responsive, flexible and affordable life insurance options.

Kogan Life policies are underwritten by Hannover, the third largest insurance underwriter in the world and replete with a Standard & Poors insurer financial strength rating of AA (very good). Furthermore, Hannover has been operating in the Australian insurance sector since 1958, giving consumers peace of mind that Kogan Life policies are well tailored and well backed in the event of a claim.

Important Information

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How does it work?

Kogan Life insurance provides a financial payout in the event that the covered individual dies of an accident, terminal illness or of natural causes. The policy can be applied either individually or as a joint application (partnered life insurance policy). Kogan Life Insurance cover amounts range from $100,000-$1,000,000 and applicants must be Australian residents aged 19-64 years of age at the commencement of the policy.

Optional covers:

Kogan Life Insurance offers the following optional covers for approved life insurance policyholders:

  • Children's cover: For Australian residents aged 2-17 years old, the policy holder as the parent or legal guardian can take out cover to protect in the event of accidental death, paralysis, blindness, deafness, total and permanent loss of use of two limbs, encephalitis, meningitis or major head trauma of their child/children. The maximum benefit amount that can be claimed is capped at $50,000 per child.
  • Serious illness insurance: This option within a life insurance policy provides additional cover in the event of a heart attack, cancer, stroke or coronary artery bypass surgery. This optional cover is capped at $500,000 and open to eligible policyholders aged 18-59 years of age.
  • Total and permanent disability insurance: Insurance in the event that the life insurance policyholder suffers a total and permanent disability, up to a maximum of $1,000,000 depending on the age of the policyholder.

Why choose Kogan Life?

  • Once approved, you are covered for life.
  • You can choose a benefit amount between $100,000 and $1 million (depending on your age), allowing you greater flexibility to choose only the cover you need.
  • Your beneficiary may be entitled to an advance of $10,000 while the life insurance claim is undergoing assessment ensuring your family will be supported when they need it most.
  • There's no paperwork to fill out, and you don't need to have a medical or blood test when you apply, giving you quick and easy access to lifelong peace of mind.
  • If you become diagnosed with a terminal illness and have 12 months or less to live, you will receive 100% of your benefit amount.
  • Benefit amount indexed annually to ensure benefit amount compares with living costs when needed most.
  • Wide range of cover with options such as serious illness, total and permanent disability or children's insurance.

When will or won't a benefit be paid?

Kogan Life Insurance will be paid out in these instances:

  • If the insured suffers death due to the result of an insured event, for instance death due to a terminal illness and you have selected that additional option in your life insurance package.
  • When there is sufficient evidence to prove that the insured event occurred, for example medical certificates stating cause of death and date.

Kogan Life Insurance will not be paid out in these instances:

  • If the policy holder has breached their duty of disclosure, meaning that they have failed to provide accurate and honest information on their health status in applying for life insurance. For instance, suffering a heart attack and not disclosing prior heart attacks.
  • If the cause of death originated from a time prior to the life insurance policy starting.

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