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.

1.0 ★★★★★ (1 review) Write a review

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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.

Cover OptionsWhat you're covered for
  • 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 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
  • 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 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.
  • 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.

Frequently asked questions

Compare other trusted Australian insurers

Name Product Maximum cover Maximum Entry Age Fully Underwritten? Terminal Illness Benefit Optional Extras
NobleOak Life Insurance
$15,000,000
69
$3,000,000
TPD cover, Trauma cover
Get your one month free when you buy NobleOak Life Insurance policy. Offer ends 31 December 2021. T&C's apply.
Real Family Life Cover
$1,000,000
64
$1,000,000
TPD cover, Trauma cover
Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .
Medibank Life Insurance
$2,500,000
70
$2,500,000
TPD cover, Trauma cover
Medibank health members save 10% on premiums every year. T&Cs apply.
Zurich Ezicover Life Insurance
$1,500,000
69
$1,500,000
No optional
Get your first month free and a 10% discount by taking out a second life insurance policy (discount applies to the second policy). Customers who suffer a serious side effect from an approved COVID vaccination may be eligible for a $50,000 one-off payment. T&C’s apply.
ahm Life Insurance
$1,500,000
65
$1,500,000
TPD cover, Trauma cover
ahm Health members can save 10% off premiums.
RAC Life Insurance (Only available in Western Australia)
$25,000,000
69
$25,000,000
TPD cover, Trauma cover
When you purchase RAC Life Insurance, WA residents receive complimentary RAC membership which includes access to discounts on fuel, savings on shopping, entertainment and more. T&Cs at rac.com.au.
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