Why choose People’s Choice Credit Union Life Insurance?
People’s Choice Credit Union is best known for its array of banking products and services. However, it also offers a range of insurance policies to its customers.
In addition to home, vehicle, boat and travel insurance, this member-owned credit union also offers life insurance cover. If you die or are diagnosed with a terminal illness, your life insurance policy will offer a lump sum benefit payment to help your family cope with the financial impact of their loss. This provides peace of mind for you and your family and allows them to manage the family finances.
With more than 345,000 members, People’s Choice Credit Union is one of Australia’s largest credit unions.
Each of its products and services is designed to benefit its members, including its Simple Life Insurance policy. Offered through respected insurer CGU, People’s Choice Credit Union Simple Life Insurance is designed to be affordable and to protect your family’s lifestyle. Cover levels range from $100,000 to $1 million and there are no medical tests required at the time of application.
Find out more about People’s Choice Credit Union Life Insurance
People’s Choice Credit Union Simple Life Insurance is administered by CGU Insurance Limited, which has been looking after the insurance needs of Australians for more than 160 years. This policy is designed to offer a lump sum payment when you die or are diagnosed with a terminal illness, which can help your family to maintain their lifestyle even if you are no longer around to provide financial support.
Created with affordability in mind, Simple Life Insurance cover starts from just $0.52 a day. Cover is available for Australian residents aged between 18 and 65 years, while you won’t need to undergo any medical tests to take out cover. This insurance policy is all about providing peace of mind and financial security for you and your family, ensuring that your loved ones will be looked after if tragedy strikes.Back to top
- Age – cover is available for people aged between 18 and 65 years. However, your policy can continue to offer cover until you reach 80 years of age.
- Choose from a single or joint plan.
- There are no medical tests required in order to qualify for cover.
- Your level of cover automatically increases every year by CPI or 5%, whichever is greater.
- Choose a cover level that suits you. If you’re aged between 18 and 50 years when you apply, you can choose cover from $100,000 up to $1 million. If you’re between 51 and 65 years of age, choose your level from $100,000 to $500,000.
- You are covered as soon as your Simple Life Insurance application is accepted.
- Your loved ones can receive a $10,000 advance of the benefit payment to help cover funeral costs.
- 28-day money-back guarantee offers extra peace of mind.
Once your application has been accepted and you’ve paid your insurance premium, this People’s Choice Credit Union policy will provide 24-hour worldwide cover for the period of insurance specified on your certificate of insurance.
If you die, a Life Insurance Benefit up to the sum insured will be paid to your beneficiaries. If you happen to be diagnosed with a terminal illness, you are eligible to receive a Terminal Illness Benefit of an amount equal to the sum insured under your policy.
In addition, your beneficiaries can also receive a $10,000 advance on the lump sum benefit payment to help cover funeral expenses when you pass away.Back to top
As previously mentioned, People’s Choice Simple Life Insurance is available for people who are Australian permanent residents and who are aged between 18 and 65 years. It’s possible to apply for a single policy for your own life, or you can opt to take out a policy for you and your spouse, partner or de facto.Back to top
The maximum amount of cover you can apply for under a People’s Choice Credit Union Simple Life Insurance policy varies depending on your age. If you’re aged between 18 and 50 years, you can choose a level of cover ranging from $100,000 to $1 million.
However, people in the 51-65 age bracket can only opt for a level of cover between $100,000 and $500,000. Keep in mind that due to automatic annual increases to your policy mean that your cover can exceed $1 million in some cases.Back to top
As soon as something happens which may lead to you needing to make a claim, contact CGU by phoning 1800 248 543 or by going to the CGU website. You will be able to access a claim form which must then be completed, signed and returned to CGU within 30 days of the initial incident. If this deadline is not met, the insurer has the right to refuse your claim.
Depending on the nature of your claim, you may also need to provide additional supporting documents. For claims for a Life Insurance Benefit or Advance Funeral Benefit, this could include the Death Certificate, Coroner’s Report and the deceased’s will. If your claim relates to a Terminal Illness Benefit, you’ll need to provide proof that you have a terminal illness.
Other supporting documentation includes your certificate of insurance, your birth certificate, passport or driver’s licence.Back to top
Q. Will I be covered overseas?
- A. Yes, your People’s Choice Credit Union Simple Life Insurance policy will provide cover all around the world, 24 hours a day.
Q. I want more information on this policy. Where can I find it?"
- A. You can phone People’s Choice on 13 11 82 or email CGULife@cgu.com.au.
Q. How do I get in touch when I need to make a claim?
- A. You can phone CGU on 1800 248 543 or email email@example.com to begin the claims process.
If you want financial protection and security for your loved ones, it’s worth taking out a competitive and affordable life insurance policy. People’s Choice Credit Union Simple Life Insurance is an option worth considering, as it offers a host of flexible features to provide an adequate level of life insurance cover. However, before you decide on the right insurance policy for your needs, it’s important to compare the features and benefits of this People’s Choice policy with those offered by other products on the market. You can use our comparison tools to help you weigh up the pros and cons of competing policies and end up with an adequate level of cover.Back to top