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Life insurance for medical workers

It doesn’t matter if you’re on the front line – doctors, nurses and other medical workers can still get life insurance. Compare 5+ policies, filter benefits and click through for a personalised quote.

1 - 15 of 15
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.
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.

⭐ Current offer: Save 10% on your first year of Medibank Life Insurance when you apply by 1 July 2024. T&Cs apply.
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.
RACWA 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. RAC is also WA-based but services all of Australia.

⭐ Current offer: Get two months free when you apply for two or more RAC Life Insurance covers by 30 June 2024. T&Cs apply.
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.

⭐ Current offer: Get 10% off your first year of ahm Life Insurance when you apply by 1 July 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: 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
$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: 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
$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.
Zurich Ezicover Life Insurance
$1,500,000
69
$1,500,000
98%
3 months
$24,495 million
Our verdict: Good if you want a cheap policy from a well-regarded insurer – its 98% claims acceptance rate is higher than any other provider on Finder. Zurich keeps things simple: unlike others, it doesn’t go in for optional add-ons such as TPD or trauma cover.

⭐ Current offer: Policy discounts include 10% off for your partner if you sign up for a joint policy. You can also get 5% off income protection if you buy it alongside your life cover.
HCF Life Protect Insurance
$1,500,000
65
$1,500,000
Data not available
Data not available
Data not available
Our verdict: Similar cover to other insurers ($1.5 million). A good discount for HCF members of 10% and an easy initial quote process.

⭐ Current offer: Eligible HCF Members receive 10% premium discount and HCF Thank You rewards.
Guardian Life Insurance
$1,500,000
64
$1,500,000
88.90%
2.4 months
$53,238 million
Our verdict: Competitive cover limit of $1.5 million. You can add children’s cover of up to $50,000 – most policies don’t include this option.
Allianz Life Plan
$1,500,000
65
$1,500,000
Data not available
Data not available
$12,515 million
Our verdict: Allianz offers competitive maximum payouts of up to $1.5 million. With a policy cancellation rate of 8.4%, Allianz betters the industry average of 10.9%.
Kogan Life Cover
$1,000,000
64
$1,000,000
88.90%
2.4 months
$53,238 million
Our verdict: Children’s cover can be added to your policy – most providers don’t offer this. With Kogan, expect an easy application process with no medical test.
Australian Seniors Life Insurance
$200,000
79
$200,000
88.90%
2.4 months
$53,238 million
Our verdict: Australian Seniors lets you take out cover up to the age of 79. No medical exams or blood tests needed to apply.

Keep in mind: Low cover limit of up to $200,000 and no option to add TPD or Trauma cover.
RACQ Life Insurance
$1,000,000
65
$1,000,000
97%
Data not available
Data not available
One of just 4 insurers to offer children’s insurance. Get cover of up to $50,000 for 7 serious illnesses. RACQ offers 3 ways to save on life insurance: RACQ members get 10% off when buying online. There’s a 5% joint policy saving. Plus you could score 10% off your premiums if you achieve Silver status with AIA Vitality. You can apply for cover online or over the phone.
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What types of life insurance can medical professionals get?

The term "life insurance" actually refers to a few different types of insurance, which are there to help when an illness, injury or death stops you from earning an income. Some offer financial help during a temporary setback, while others pay a big lump sum following a life-altering event.

Life insurance

Life (or death) insurance

Pays a lump-sum benefit to your family if you die. In some cases, the benefit may be paid if you're diagnosed with a terminal illness.

TPD

Total and permanent disability (TPD) insurance

Pays a lump-sum benefit if you can no longer work as a result of illness or injury. Some options pay out if you can no longer work in any capacity, while others pay out if you're unable to work in your specific job.

Income protection

Income protection insurance

Pays a monthly benefit for a set period of time if you're unable to work due to illness or injury. Some insurers may let you add cover in case you're made redundant.

Trauma

Trauma or critical illness cover

Pays a benefit if you're diagnosed with a specific illness or suffer from a specific injury. Benefits vary depending on the nature and severity of the illness or injury.

How does life insurance work for medical professionals?

Life insurance works just the same for medical professionals as it does for other workers. It's there to take the financial strain off you and your family if your health takes a turn for the worse and you're no longer able to earn a living.

However, there are a few unique factors that health workers should consider, that other professionals just don't have to think about.

  • Needle-stick injuries: Whether you're a doctor, nurse, paramedic or otherwise, healthcare workers have a significantly higher chance of suffering from needle-stick injuries in the workplace. Thankfully, some life insurance policies offer an optional add-on to cover occupationally acquired HIV, Hepatitis B and Hepatitis C. It may even cover splashback and the inhalation of blood or bone dust.
  • Own vs any: With income protection and TPD insurance, you may be able to choose cover for any occupation or just your own specific occupation. This is a particularly important consideration for medical professionals with specific expertise. You may suffer an injury that prevents you from carrying out your current job, but that still allows you to do another, albeit lower-paid, job. In this case, an "any occupation" policy might not pay out.

How can I get life insurance?

There are a few different ways you can get life insurance. They're not all going to be right for everyone, so it's important that you do your homework and figure out which avenue is best for you.

  • Through your super: Lots of super funds offer some form of life insurance, and it may even be included in your super automatically. Premiums are cheap this way, but the insurance is rarely as comprehensive as a standalone policy and it won't be tailored to your needs.
  • Direct from an insurer: Compare policies online and figure out which one is right for you. You can get great quality cover this way, and at a reasonable price. However, it can be time-consuming and tricky to interpret the different policies.
  • Through an adviser: A financial adviser will assess your current circumstances, compare options and determine the type of cover that's best for you. Your cover may end up being more expensive, but you can be confident that it's tailored to your needs.

Can medical workers get life insurance through their super?

Yes. Most super funds offer some form of life insurance, and it might even have been added automatically when you signed up.

It's easy to check. Just log in to your fund's website and it'll tell you if you have any cover and how much. If you can't log in, you can always give your fund a call instead.

Remember, life insurance through your super is usually pretty basic compared to cover through an adviser or direct from an insurer. It's also cheaper, but it's a drain on your retirement fund.

Can I still get life insurance during the coronavirus pandemic?

Yes. If you're a healthcare worker, you can still get life insurance, which will cover you in the event that you die from COVID-19 or are unable to work for a while.

In fact, thanks to an important decision by the Australian Competition and Consumer Commission (ACCC), exposure to COVID-19 can't be used as a reason to decline life insurance to frontline health workers. Insurance companies aren't allowed to charge you a higher premium due to your exposure or apply additional restrictions, either.

The rule applies to heaps of frontline medical workers, including – but not limited to – doctors, nurses, hospital employees, ambulance staff, paramedics, people working at GP surgeries or clinics, people working on COVID-19 vaccines, pharmacists, police, aged care workers and volunteers supporting people with COVID-19.

What exclusions should I keep an eye out for as a medical worker?

In March, one of Australia's biggest life insurers announced plans to exclude death from COVID-19 from new life insurance policies, including those of healthcare workers. Thankfully, that plan never came to fruition. However, that doesn't mean that there aren't other exclusions you should keep an eye out for.

  • Mental health: Working on the frontline can be tough, and traumatic. Some life insurance policies might not pay if you're unable to make a living due to stress or mental illness, while others have exclusions for self-harm or suicide. Make sure to check your PDS to see if there are any exclusions for mental illness.
  • The gap: Healthcare workers who bought cover between 11 March 2020 (when COVID-19 was declared a pandemic) and 6 April 2020 (when insurers could no longer penalise healthcare workers due to COVID-19) should check with their insurer about any exclusions.
  • Type of employment: Most life insurance policies have minimum requirements when it comes to the type of work it is and perceived job security. Usually, you'll have to be able to prove that you have a permanent job and that you work at least 20 hours a week.

Still not sure which life insurance product is right for you?

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Written by

Nicola Middlemiss

Nicola Middlemiss is a contributing writer at Finder, with a special interest in personal finance and insurance. Formerly a business and finance journalist, Nicola has written thousands of articles helping Australians better understand insurance and grow their personal wealth. She has contributed to a wide range of publications, including Domain, the Educator, Financy, Fundraising and Philanthropy, Insurance Business, MoneyMag, Mortgage Professional, Yahoo Finance, Your Investment Property, and Wealth Professional. Nicola has a Tier 1 General Insurance (General Advice) certification and a Bachelor's degree from the University of Leeds. See full profile

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