St George Life Insurance

If you're looking for mid-range life insurance cover from an established name, then St George Life Insurance is a decent option to consider. Its flexible plans can include assistance with estate planning, injury protection cover, family payments and more. Let's take a closer look.

St George Life Insurance and other products

There are a number of different protection plans that St George offers and they are designed to provide you and your loved ones the financial assistance you and/or your family may need, should anything happen to you.

BT Term Life

Key points of BT Term Life

• Packaged life insurance: The BT Protection policy is a flexible life insurance product that lets you tailor your policy around a death benefit and terminal illness benefit. These benefits make up the core of the policy, and all you have to do is add or remove optional benefits such as injury protection, funeral cover or child care cover, so you only pay for what you need.
• Potentially high benefit limits: According to BT's PDS, the maximum cover is 'any financially justifiable' amount
• Apply and stay covered: If you are an Australian resident between 15 and 69 you can apply for cover, and once approved you will remain covered with guaranteed renewals until you are 100 years old.
• You can also select income protection, sickness and injury cover, needlestick benefit and a children's benefit if you want to bolster your insurance

TPD Cover

TPD Cover

• TPD Benefit: A lump sum payment if you become totally and permanently disabled.
• TPD Partial Benefit: A lump sum payment if you are partially and permanently disabled.
• TPD Continuation Benefit: The ability to continue your cover on an 'any occupation' basis after you turn 65.
• Future Insurability Benefit: The ability to increase your sum insured without further medical underwriting.
• Financial Planning Benefit: Reimbursement of up to $5,000 for the preparation of a financial plan following a payout.
• Counselling Benefit: Reimbursement of up to $5,000 for up to 10 counselling sessions following a payout.
• TPD Death Benefit: A lump sum payment of $10,000 if you die and the TPD Benefit has not been paid.

Living Insurance

Key points of Living Insurance

• Living Benefit: A lump sum benefit if you suffer a medical event listed on a standard table of specific events.
• Living Benefit Plus: A lump sum benefit if you suffer a medical event listed on a more comprehensive table of events.
• Advancement Benefit: A partial benefit for a specified medical event.
• Future Insurability Benefit: The ability to increase your sum insured without further medical underwriting.
• Financial Planning Benefit: Reimbursement of up to $5,000 for the preparation of a financial plan following a payout.
• Counselling Benefit: Reimbursement of up to $5,000 for up to 10 counselling sessions following a payout.
• Child Support Benefit: A lump sum payment of up to $10,000 if a dependant child dies or suffers a specified medical event.
• Living Buy Back Benefit: The ability to reinstate the Death Benefit after the Living Benefit has been paid.
• Living Insurance Death Benefit: A lump sum payment of up to $10,000 if you suffer a specified medical event and die within 14 days.

Am I eligible for a policy with St George?

The age eligibility range for St George Life Insurance depends on the type of premium structure selected:

Term Life Insurance

• 15 to 69 for those on stepped premiums.
• 15 to 59 for those on level premiums to age 65.
• 15 to 49 for those on level premiums to age 55.
• Maximum sum insured varies according to individual circumstances.

TPD Insurance

• 15 to 59 for those on stepped and level premiums to age 65.
• 15 to 49 for those on level premiums to age 55.
• Maximum insured sum is $5 million.

Living Insurance

• 15 to 59 for those on stepped and level premiums to age 65.
• 15 to 49 for those on level premiums to age 55.
• Maximum insured sum is $2 million.

Income Protection

• 17 to 59 for those on stepped and level premiums to age 65.
• 17 to 49 for those on level premiums to age 55.
• Maximum insured sum is $60,000 if gainfully employed and $5,000 if not.

Business Overheads and Key Person Income

• 17 to 59 for those on stepped and level premiums to age 65.
• Maximum insured sum is $60,000.

How do I process my claims with St. George?

If you wish to make a claim on your St George Life Insurance, these are the steps to follow:

• • 1. Contact St George on 1300 366 416 within 30 days for Income Protection, Business Overheads and Key Person Income claims and within six months for Term Life, TPD and Living Insurance claims.
    2. Fill in a claim form and submit it to St George along with proof-of-identify and age(certified copies) along with supporting documents such as medical evidence from a specialist or proof-of-earnings, business expenses and business income (if relevant).
    3. St George will then assess your claim in a timely manner and if approved, your benefit will be paid either in a lump sum or monthly payments depending on the type of policy.

Why you can trust Finder's life insurance experts

We're free

You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.

We're experts

Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.

We're here to help

Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

Frequently asked questions

• Why is life insurance so important?

  Because it protects your family's financial future if something happens to you and you aren't there to provide for them.

• What might I need life insurance if I'm young and fit?

  Life Insurance premiums increase with age, so the longer you wait to take out insurance, the higher your premiums will be. Also while your personal health and fitness is within your control, accidents and other events that could cause you injury or death are not.

• How much cover do I need?

  It depends on your wealth protection requirements. Someone with a family and a mortgage would usually opt for more cover than someone single with no financial commitments.

• What does it mean if my policy is indexed?

  The sum insured and premium amounts are automatically increased on each policy anniversary to keep pace with inflation.

• Who receives my St. George Life Insurance benefits?

  If you die, benefits are paid to your beneficiaries, your personal legal representative or your estate. It is advisable to nominate a beneficiary to avoid having your death benefits paid to your estate, as this can slow down the release process.

• What happens if I cancel my St. George Life Insurance policy?

  As long as you cancel it during the cooling-off period, you will get a refund of any premiums you have paid. You must cancel within 25 days of receiving your policy or within 30 days of the policy start date.

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