Let’s Insure Life Insurance

Is a life insurance policies from Let's Insure right for me? Read through our review.

The prospect of our own mortality is hardly something any of us enjoys thinking about — after all, we’ve all got our own busy lives to think about. But taking a little time now to plan for the future and work out how your family would manage financially if you were no longer around is incredibly important for all Australians.

Maximum cover amount$1,500,000
Age of entry18-65
How do I apply?
Online with Let's Insure

Based on the Life Cover Policy. Age of entry will vary based on the sum you apply for.

  • Free accident cover while you wait for your cover to be assessed.
  • The cost of your policy is not guaranteed and may change in the future
  • Cost of your policy (and your sum insured) will increase yearly so that it meets the cost of inflation unless you opt out.
  • You can increase your sum insured every 12 months without a health assessment.

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

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Life insurance is designed to help your family cope with the financial impact when you die or suffer a serious injury. Let’s Insure is an Australian life insurance specialist that offers a range of cover options to help meet the insurance needs of you and your family. Its policies are underwritten by St Andrew’s Life Insurance, which has been offering crucial financial protection to Australians since 1998.

What are the key features that you will find in a Let's Insure policy?

  • 30-day money-back guarantee. If you cancel cover within the 30-day cooling-off period, you will receive a full premium refund.
  • Guaranteed benefit increases. Provided specific terms and conditions are met, you can increase your Life Cover benefit amount once every 12 months without having to undergo further health assessment.
  • Interim Accidental Death Cover. If you apply for Let’s Insure Life Cover over the phone and the insurer requests more information to properly assess your application, 30 days of free interim Accidental Death Cover is provided.
  • Financial Planning Benefit. Once you’ve held your Let’s Insure policy for at least three consecutive years, it will be automatically upgraded to include a Financial Planning Benefit. There is no additional cost attached to this benefit, which provides up to $3,000 cover for financial advice you receive from a licensed financial planner within 12 months of an accepted Life Cover claim.
  • Financial Assistance Benefit. Once you’ve held your policy for 12 continuous months, it will be automatically upgraded to include a free Financial Assistance Benefit. This benefit allows you to waive your premiums for up to three months if you are experiencing financial hardship.
  • Your choice of premiums. Let’s Insure provides the flexibility of stepped or fixed premium options, allowing you to choose the best option for your cover needs and your family’s budget.
  • Automatic sum insured increases. If you choose stepped premiums, your sum insured automatically increases by 5% each year in order to maintain the real value of your insurance.
  • Flexible payment options. You can pay your Let’s Insure life insurance premiums fortnightly, monthly or yearly – whichever option best suits your budget. Premiums are automatically deducted from your nominated credit card or bank account.

What products are offered by Let’s Insure?

Let’s Insure Life Cover provides a lump sum payment of up to $1.5 million in the event of your death or terminal illness. The minimum benefit amount is $50,000 and an Advance Funeral Benefit is also included to help your loved ones cope with immediate expenses following your death.

Let’s Insure TPD Cover is available as an optional extra on your Life Cover policy. It provides a lump sum payment ranging from $50,000 to $1 million if you suffer a total and permanent disability.

Trauma Cover is an extra-cost option available with Let’s Insure Life Cover. It provides a lump sum payment of up to $500,000 if you suffer a specified trauma event, such as cancer, heart attack, stroke or coronary artery bypass surgery. A total of 20 trauma events are covered by this policy.

This optional cover is available with Let’s Insure Life Cover. It provides a lump sum benefit of between $50,000 and $600,000 in the event of your accidental death. This amount is paid in addition to the Life Cover Benefit.

Let’s Insure Children’s Cover provides a lump sum payment of up to $60,000 if an insured child dies as a result of an accident or suffers a specified trauma event, for example cancer, paralysis, major head trauma or major burns. The minimum benefit amount is $10,000 and this optional cover is only available with Let’s Insure Life Cover.

Am I eligible for cover?

PolicyAge of entry*
Life Cover18-65
Total and Permanent Disability Cover18-55
Trauma Cover18-55
Accidental Death Cover18-65
Child cover2-18

*This can vary depending on the sum insured.

About the insurer

Part of BlueInc Group, Let’s Insure offers a range of life insurance solutions to customers throughout Australia. Its range of policies includes Funeral Cover, Life Cover, Easy Life Insurance and Accident Cover, with each policy designed to provide peace of mind and financial support for you and your loved ones.

Who is Let’s Insure cover issued by?

The company’s insurance products are issued and insured by St Andrew’s Life Insurance, which has been providing consumer credit and life insurance solutions to Australians since 1998. Let’s Insure’s products are re-insured by Munich Reinsurance Company of Australasia Limited, which is part of the world’s largest re-insurer, Munich Re Group.

How are my premiums paid?

Let’s Insure Life Cover premiums can be paid fortnightly, monthly or yearly. You have the flexibility to select which day of the month you would like your premium payment to be deducted from your nominated credit card or bank account, and you have the option to change your choice at any time by phoning Let’s Insure.

Depending on your cover needs and financial circumstances, you can select stepped or fixed premiums for your Let’s Insure Life Cover. With stepped premiums, your premium is recalculated each year to reflect your age as well as the automatic 5% increase in the sum insured. If you opt for fixed premiums, your premium amount will be determined by your age when you apply for cover and remain the same for the life of your policy. In order for your premiums to remain at the same level, your sum insured will decrease each year. Regardless of which structure you choose, premiums are free once you reach 92 years of age.

Your premium amount is shown in your policy schedule and is calculated based on:

  • The type of cover you have and the benefit amounts you select for each life insured
  • The age of each life insured, with premiums typically lower for younger people
  • A wide range of other personal health and lifestyle factors including your gender, smoking status, overall health, family history, occupation, and participation in any hazardous pastimes or activities

What other charges are there to be aware of?

If you select a policy with stepped premiums, your premium amount will automatically increase by 5% on each policy anniversary. It’s also worth pointing out that premium rates on your Let’s Insure policy are not guaranteed and may change at any time, but only if the insurer changes the premium that applies to all Let’s Insure policy owners.

How do I make a claim with Let's Insure?

If you need to make a claim on your Let’s Insure Life Cover policy, you can contact the insurer by phone, email or mail – you’ll find the relevant contact details in the PDS. You can download a claim form from the Let’s Insure website or, if you prefer, you can ask the insurer to post the form to you.

You’ll need to complete and return this claim form along with any supporting documentation the insurer requests, such as:

  • A form completed by your treating doctor or specialist
  • Any relevant medical information, such as tests or medical results
  • Proof of your claim, for example a death certificate or confirmed diagnosis of death or injury by a medical practitioner
  • Occupational or financial information

Once all the necessary documentation has been submitted, claims are assessed as soon as possible and paid in Australian Dollars.

What are some of the key exclusions?

It’s important to be aware that there are certain situations where your Let’s Insure Life Cover policy does not offer any cover. No cover is available if the life insured dies or has a terminal illness as a result of intentional or deliberate self-inflicted injury within 13 months of any of the following:

  • Cover commencing
  • Cover being increased (but only in respect of the increase)
  • Cover being reinstated after previously being cancelled

In addition, your claim will not be paid if the insurer has specifically agreed a special term of your policy that excludes an event or condition that leads to your claim.

Other exclusions may apply to specific Let’s Insure policies. For example, if you select Accidental Death Cover then your claim will not be paid if it arises due to:

  • Natural causes, illness, an intentional self-inflicted injury or suicide
  • War
  • Engaging in criminal activity or illegal acts
  • Consumption of intoxicating liquor or drugs
  • Engaging in professional sport
  • Being a pilot or crew member of any aircraft

Read the PDS for full details of any general exclusions that apply to your policy.

Some final questions you might have

Q. How do I know when my cover starts?

  • A. Your cover starts on the Acceptance Date, which is the date on which your application for cover is accepted. This will be outlined in your policy schedule.

Q. When does my Let’s Insure cover end?

  • A. A range of circumstances can cause your cover to end, including you cancelling your policy, the insurer cancelling your policy due to your failure to pay premiums, you reaching a certain age or you submitting a claim for certain benefits.

Q. Does my policy provide cover for me while I’m overseas?

  • A. Yes, Let’s Insure offers worldwide cover 24 hours a day, seven days a week.

Q. How does Let’s Insure decide on my premium amount?

  • A. The amount you will have to pay for your insurance premiums is influenced by a range of factors including the benefit amount you choose, your age, your gender and your smoking status. Further factors will be taken into account when you apply for Life Cover, such as your health, your occupation and your family medical history.

Q. How do I specify who will receive the benefits from my policy?

  • A. When you apply for a Let’s Insure policy you will be asked to nominate a beneficiary or beneficiaries.

Q. My circumstances have changed and I want to increase my level of cover – how can I do this?

  • A. You will need to contact Let’s Insure and complete a new application. You can also decrease your cover amount or add more family members to your policy if you wish.

Q. What are the premium options with Let’s Insure Life Cover?

  • A. You can choose from stepped or fixed premiums with your Life Cover. Under a stepped premium structure, the amount you pay will be calculated at each policy anniversary based on your age and the 5% automatic sum insured increase, causing your premiums to rise each year. With a fixed premium structure, your premium is based on your age when you apply for cover and remains the same when you apply for cover. No matter which option you choose, premiums are free once you reach 92 years of age.

Q. Is there a cooling off period for Life Cover?

  • A. There is a 30 day cooling period in which you can cancel you policy and receive a full refund of the premiums you have paid. The cooling off period starts from the date of the first premium payment date.

Q. How can I pay my premiums?

  • A. Payments options are flexible for your convenience. Payments can be made by your nominated credit card, bank card or credit union card at either a fortnightly, monthly or yearly schedule.

How do I claim?

If you, your beneficiary or your legal representative wish to make a claim under a Let’s Insure policy, the first step is to contact the insurer. You can get in touch with Let’s Insure by phone (1300 355 355 Mon-Fri, 8am-6pm AEST), email (claims@letsinsure.com.au) or by mail (Claims Manager Let’s Insure ,PO Box 1192 ,Chatswood NSW 2057).

Let’s Insure will then be in touch to talk you through the next steps you will need to take to lodge a claim.

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4 Responses to Let’s Insure Life Insurance

  1. Default Gravatar
    maria | May 26, 2017

    Can I apply for life insurance even if I have diabetes type 2?

    • Staff
      Rench | May 29, 2017

      Hi Maria,

      Thanks for your question.

      Yes, you can still apply and take out cover even if you have type 2 diabetes. Although please note that the cover may come with a premium loading since diabetes is associated with high risks. On this page you would find our guide on how you can get a cover with your condition and some of the possible insurance limitations. If you need to get and compare quotes, please enter your details on the panel of that same page.

      Hope this information helped.

      Best regards,

  2. Default Gravatar
    Marie | September 27, 2016

    I need to contact you what number to ring has I am overseas.

    Regards Marie

    • Staff
      Maurice | September 27, 2016

      Hi Marie,

      The international contact number for Let’s Insure Life Insurance is 00 116 129 210 7900. If you can’t get through to them via phone you can also contact through the following email customerservice@letsinsure.com.au

      I hope this helps,


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