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St.George Life Insurance

There’s an impressive range of policies on offer from St.George Life Insurance, and it no longer sets a maximum sum you can insure yourself for.

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Our Verdict:

  • The major Aussie bank offers a maximum entry age of 69, placing it in-line with award-winning brands like NobleOak.
  • St.George offers no fewer than seven life plans to choose from – starting from just $30 per month – along with income protection cover.
  • You may want to shop around and compare a few options. For example, Allianz's Life Plan offers up to $1,500,000 million in death benefit cover and you're able to insure up to two people on a policy.

Review by our life insurance senior writer James Martin

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 is not currently available on Finder. You can visit their website at www.stgeorge.com.au for more information or compare alternative options available below.

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.

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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

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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.

User

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.

Income protection

Income Protection

Key points of Income Protection

  • Income Protection Insurance: Pays a monthly benefit to replace a portion of your lost salary if you are unable to work due to illness or injury.
  • Business Overheads Insurance: Pays a monthly benefit to help keep your business running if you are unable to work due to illness or injury.
  • Key Person Income Insurance: Pays a monthly benefit to the business to help keep it viable if a key employee is unable to work due to illness or injury.
  • Flexible coverage: You can choose from one, some or all of these Income Protection options to suit your coverage requirements.

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More cover benefits

Key points of More cover benefits (some are optional)

  • 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.
  • Funeral Advancement Benefit: 10% of the Death Benefit paid upfront to cover immediate funeral expenses.
  • Counselling Benefit: Reimbursement of up to $5,000 for up to 10 counselling sessions following a payout.

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.

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Frequently asked questions

Compare other trusted Australian insurers

Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
Finder AwardBonus
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.

⭐ Current offer: Get two months free on all cover types apply by 14 June 2024. T&Cs 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.
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.
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.
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.
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.
Insuranceline Life Cover
$1,500,000
65
$1,500,000
90.10%
3.1 months
$37,768 million
Our verdict: Insuranceline pays a lump sum of up to $1.5 million. Once your cover’s in place, you can increase it after a big life event, such as having a baby, without further medical assessment.

⭐ Current offer: Protect your family with an Insuranceline policy and you can go into the draw for a chance to win a $1,000 gift card. New Customers only, T&Cs apply. Competition entries close on 31 July 2024.
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.
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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