Ozicare Life Insurance
Find out if Ozicare Life Insurance offers the right policy for you.
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Ozicare offers affordable insurance across a range of products including Life, TPD and trauma. Having options means you have more choice over the cover you get and only pay for what you actually need. To find out if Ozicare is right for you, continue reading our guide.
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|Maximum cover amount|
|Age of entry|
|How can I get a quote?||Online with Ozicare|
|What products are offered by this brand?|
*Note: Maximum sum insured varies based on age.
Note: Conditions apply – always consult the Product Disclosure Statement (PDS).
What products are offered by Ozicare?
- Life Cover. Ozicare Life Cover can pay a lump sum benefit of up to $1 million if you die or are diagnosed with a terminal illness. As long as you pay your premiums, cover is guaranteed until the policy anniversary after your 100th birthday, and you can receive immediate life insurance cover on approval.
- Total and Permanent Disability (TPD) Cover. Ozicare TPD Cover can pay a lump sum benefit of up to $1 million if you become totally and permanently disabled. Not available as a standalone policy, TPD Cover can be added on to your Life Cover policy.
- Trauma Cover. Trauma Cover from Ozicare pays a lump sum benefit of between $25,000 and $500,000 when you are diagnosed with or undergo one of the following four conditions: cancer, coronary artery bypass surgery, heart attack or stroke. Not available as a standalone policy, this cover can be added on to your Life Cover policy
- Trauma Plus Cover. Ozicare Trauma Plus Cover provides a lump sum benefit between $25,000 to $500,000 when you suffer from one of a range of specified trauma events and conditions, including cancer, heart attack, stroke, intensive care, major head trauma, severe burns and more. Not available as a standalone policy, Trauma Plus Cover can be added on to your Life Cover policy.
- Children’s Cover. Ozicare Children’s Cover can pay a lump sum benefit of between $20,000 and $50,000 when an insured child dies or suffers a serious illness. This cover is not available as a standalone policy and must be added to Life Cover.
- Accidental Death Cover. Ozicare Accidental Death Cover is a standalone policy that can pay a lump sum of between $50,000 and $500,000 when you die as a result of an accident. As long as you pay your premiums, cover is guaranteed until the policy anniversary after your 75th birthday.
What are the key benefits of Ozicare?
- Easy application process. It’s quick and easy to apply for Ozicare’s range of life insurance policies over the phone. There are no medical or blood tests to complete and no complicated forms to fill out; all you have to do is answer some questions about your health, lifestyle and occupation.
- Flexible cover up to $1 million. You can tailor your level of Ozicare life insurance cover to suit your needs. You can take out between $50,000 and $1 million of Life Cover, and between $50,000 and $500,000 of Accidental Death Insurance. You can also add TPD, Trauma, Trauma Plus and Children’s Cover to create a policy that matches all your cover requirements.
- 24/7 worldwide cover. Ozicare’s range of life insurance policies provide cover 24 hours a day, 7 days a week, right around the world.
- Automatic inflation protection. To ensure that your cover keeps pace with the rising cost of living, your level of cover is automatically increased by the change in the Consumer Price Index or 5%, whichever is greater.
- Guaranteed cover. As long as you pay your premiums, once you have Ozicare life insurance cover in place, you’ll stay protected regardless of any changes to your health, occupation or pastimes.
- You’re in control. Ozicare gives you the freedom to increase or decrease your level of cover (within policy limits) at any time. This allows you to ensure that cover always matches your needs.
- 10% discount. If you already hold an Ozicare Home, Contents or Car Insurance policy, you may be eligible for a 10% discount off your life insurance premiums.
|Life Cover||Between 17 and 63|
|Accidental Death Insurance||Between 17 and 63|
|TPD Cover||Between 17 and 58|
|Children's Cover||Between 1 and 16|
|Trauma Cover||Between 17 and 58|
Ozicare has been offering a wide range of insurance policies to suit the cover needs of Australians since 2001. In addition to its suite of life insurance policies, this well-established insurer also offers car, home and contents insurance policies. Ozicare belongs to an international network of insurance companies owned by the Budget Insurance Group. Established in the 1980s, it operates across the United Kingdom, South Africa and Australia. Ozicare’s life insurance policies are underwritten by Hannover Life Re of Australasia Ltd, which is a wholly-owned subsidiary of Hannover Re Group. The Group is the world’s third largest reinsurer and has had an Australian market presence since 1958.
How are my premiums paid?
You can select the Ozicare life insurance premium payment schedule that best suits your budget: fortnightly, monthly or annually. You can only apply to change the payment frequency after you have received the next anniversary notice for your Ozicare policy. Payments can be made by direct debit from your nominated bank account or by credit card. You should also be aware that there are several factors that can affect the cost of your life insurance premiums, including:
- Your age and gender
- Your health status
- Whether you smoke or not
- Your lifestyle and pastimes
- Your occupation
What other charges are there to be aware of?
You may need to incur some expenses when gathering the necessary proof to support your claim. For example, you may be required to obtain a death certificate for a Life Cover claim, or you may incur fees when arranging a time for your doctor to complete a form to support your claim. Other than that, it’s also important to be aware that due to the in-built inflation protection feature, your premiums will increase each year. Ozicare will send you an updated policy schedule 30 days prior to your policy anniversary to advise you of your new premium and benefit amount.
How do I make a claim?
If you need to make a claim under your Ozicare policy, you (or your legal representative) should contact Ozicare in one of the following ways:
- By phoning 1800 421 034
- By emailing firstname.lastname@example.org
- By writing to Ozicare Life Insurance, PO Box 342, Toowong QLD 4066
You will then be sent a claims booklet which you will need to complete, sign and return to the insurer. You may also be required to get your treating medical practitioner to fill out a form. Finally, claims must be lodged as soon as possible after the event leading to the claim.
What are some of the key exclusions of Ozicare?
There are certain situations and circumstances when your Ozicare life insurance policy will not provide any cover. However, these exclusions vary depending on the policy you choose.
- The commencement date
- The date of any non-automatic increase to the benefit amount (but only in respect to the increase)
- The date on which the policy was reinstated
- The event that gave rise to the claim was intentionally caused by the life insured
- The condition leading to the claim first became apparent, or the trauma event occurred, during the policy’s qualifying period
- A congenital condition
- The intentional act of the policy owner or anyone else who will be entitled to all or some of the policy benefit
- An injury that occurs or an illness that becomes apparent before cover commenced
- An injury that occurs or an illness that becomes apparent within three months of the cover commencement date, the date of any non-automatic increase to the benefit amount (but only in respect to the increase), or the date on which the policy was reinstated
- Death that does not result from an accident
- An intentional self-inflicted injury
- Engaging in criminal or illegal activity
- Suicide or attempted suicide
- The consumption of drugs or intoxicating liquor
- Engaging in any professional sport
- Engaging in any motorsports
- Taking part in any riot or civil commotion
- Being a pilot or a crew member of any aircraft
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