Looking for straightforward life insurance options that provide cover you can tailor to your needs? Australian health fund nib has extended its insurance range to now offer life and income insurance to give you and your family financial security in the event of death, serious illness or injury.
Backed by one of Australia's largest life insurance companies, TAL, nib offers a straightforward means to get flexible cover in place online or over the phone with no medical exams required.
This review will provide an overview of the different policies available from nib, some key questions you might have about the cover and the eligibility requirements.
Based on NIB Value Life Insurance policy. Information last updated September 2019. Always consult the Product Disclosure Statement (PDS)
Pros
Cons
Well known brand with a strong reputation in health insurance.
If you want to increase your cover in the future you'll need to take another health / lifestyle questionnaire
Backed by TAL, one of Australia's largest life insurance companies
Level premiums are not offered
No medical assessment (great if you are in good health)
Based on NIB Value Life Insurance policy. Information last updated September 2019. Always consult the Product Disclosure Statement (PDS)
This cover might be suitable if:
You want to save money by paying annually.
You are healthy and don't want to go through a medical assessment.
You want a popular and well known brand.
Apply carefully if:
You have pre-existing conditions - make sure you can declare your condition during the application for assessment. Otherwise, they could be excluded at claim time.
Don't get this cover if:
You want your premiums that stay the same for life.
Based on NIB Value Life Insurance policy. Information last updated September 2019. Always consult the Product Disclosure Statement (PDS)
What life insurance policies are available from nib?
Value Life Insurance
Pays a lump sum up to $1 million if you die or become terminally ill
Can be used to help your family pay off the mortgage, pay bills and maintain current lifestyle
Choose cover from $100,000 up to $1 million
Advance Payment on approved claims of $10,000 to cover funeral expenses and other immediate costs
Premiums waived for up to six months if you’re seriously incapacitated from an accident
Some questions you might have about your nib Insurance
You can receive an ongoing monthly benefit to replace up to 85 per cent of your income (up to a maximum of $3,000 per month) if you are made involuntarily unemployed. However, a range of terms and conditions apply so read the PDS.
If you are permanently disabled by a sickness or injury, you can receive a lump sum benefit under this extra-cost option. The maximum amount of cover available, including any increases due to indexation, is $1 million.
nib ’s life insurance policies are underwritten by TAL Life Limited.
St Andrew’s Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 issues the optional Involuntary Unemployment benefit.
You can apply for nib Value Life Insurance or Income Protection over the phone or online within minutes. There are no medical or blood tests to complete.
Your premium amount is influenced by a wide range of factors, including your age, gender, health, smoking status, occupation, lifestyle, level of cover selected and how often you pay your premiums.
You can pay your premiums fortnightly, monthly, quarterly or annually.
This benefit allows you to waive your premiums for up six months if you are seriously incapacitated as the result of an accident.
Who is eligible for nib Policies?
Eligibility requirements vary depending on the nib policy you select.
To qualify for Value Life Insurance you will need to be an Australian resident aged between 18 and 65 years. You will also need to be currently living in Australia and not have any plans to move overseas. The maximum amount of cover you can apply for is $1 million.
To be eligible for nib Income Protection Insurance you will need to be an Australian resident aged from 18 to 60. The maximum benefit payable under this policy is $10,000 per month. Cover can be renewed until the policy anniversary following your 75th birthday, but the maximum monthly benefit amount is limited to $3,000 once you have reached 65 years of age.
How do I make a claim for nib Insurance?
nib ’s claims process is designed to be as simple and straightforward as possible. You or your nominated beneficiary will need to phone nib to inform the provider of your wish to make a claim. You will then be sent a claim form to complete, sign and then return to the insurer.
You will also need to supply any documentation or evidence required by the insurer to support your claim. Examples of this may include:
A certified copy of proof of age of the life insured
Evidence of the date and location of any event that led to an injury or Illness.
Evidence from a medical practitioner about the extent of an illness or injury, for example clinical, radiological and laboratory evidence
Confirmation that any surgical procedures are medically necessary
Proof of income for the last 12 months or last financial year (for income protection claims)
Confirmation that you have registered to find employment (for involuntary unemployment income protection claims)
Will Eve is the lead publisher of the global team at Finder. He was previously the group publisher for insurance for Finder Australia. Will has a Bachelor of Communications from the University of Technology Sydney. He loves the challenge of launching Finder into new markets while helping grow Finder’s global team.
Thank you for leaving a question. It seems like you are wanting a quote for nib Life Insurance. Please feel free to visit our page again, click on Get Quote – you will be re directed to nib Life Insurance page to enter additional information to get more details on what you are looking for.
To be eligible for NIB Income Protection Insurance you will need to be an Australian resident aged from 18 to 60. The maximum benefit payable under this policy is $10,000 per month. Cover can be renewed until the policy anniversary following your 75th birthday, but the maximum monthly benefit amount is limited to $3,000 once you have reached 65 years of age.
If you are made involuntarily unemployed, a range of terms and conditions apply so read the PDS (Product Disclosure Statements).
As stated on the page above finder.com.au does not currently have access to this insurance brand.
You may like to review our other life insurance options here. Please fill in the necessary information and follow a short process to get your quote.
Apologies however as finder.com.au does not currently have access to this insurance brand.
You may go online and apply through them directly, or alternatively, you may like to review our other life insurance options that might also be suitable for your needs.
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How much for 1 person for 2 year
Hi Lemok,
Thank you for leaving a question. It seems like you are wanting a quote for nib Life Insurance. Please feel free to visit our page again, click on Get Quote – you will be re directed to nib Life Insurance page to enter additional information to get more details on what you are looking for.
Hope this helps
Cheers,
Val
Hi Gordon,
Thanks for getting in touch with finder.
To be eligible for NIB Income Protection Insurance you will need to be an Australian resident aged from 18 to 60. The maximum benefit payable under this policy is $10,000 per month. Cover can be renewed until the policy anniversary following your 75th birthday, but the maximum monthly benefit amount is limited to $3,000 once you have reached 65 years of age.
If you are made involuntarily unemployed, a range of terms and conditions apply so read the PDS (Product Disclosure Statements).
Hope this helps.
Best regards,
Nikki
how do i get a quote
Hi Karen,
Thanks for your inquiry
As stated on the page above finder.com.au does not currently have access to this insurance brand.
You may like to review our other life insurance options here. Please fill in the necessary information and follow a short process to get your quote.
Hope this information helps
Cheers,
Arnold
I would like to join NIB life insurance for my family. What I need to do ?
Hello Sanu,
Thank you for reaching out to us.
Apologies however as finder.com.au does not currently have access to this insurance brand.
You may go online and apply through them directly, or alternatively, you may like to review our other life insurance options that might also be suitable for your needs.
Cheers,
Gru