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Virgin Life Insurance Review

Keep you and your family's future secure with Virgin Life Insurance.

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As of 26 March 2021, Virgin does not offer life insurance to new customers. We've kept this page for existing customers. If you're already with Virgin, reach out to Virgin's Customer Care Team on 1300 814 990 for any further questions on their policy. You can compare other life insurance options available on Finder here.

Virgin Money is the Australian financial services arm of the global Virgin brand. With a focus on honesty and offering financial products and services that are easy to understand, Virgin aims to offer a better deal. Established in 1970 by Sir Richard Branson, Virgin now operates in more than 50 countries around the world and employs in excess of 50,000 people.

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Tailored Life Insurance

Virgin Life Insurance Tailored Life plan provides a lump sum payment in the event of death or a diagnosis of terminal illness with a life expectancy of fewer than 12 months. Life insurance beneficiaries can use these funds to help cover expenses and repay outstanding debts.

  • Must be an Aussie resident between 18 and 65 years of age to apply
  • Get a lump sum payment of up to $1.5 million
  • Freeze your premiums for the life of your policy
  • Add a partner to your policy
  • Cash payout of $10,000 on approval of a claim to help with legal expenses.

income protection

Tailored Income Protection Insurance

Virgin's Tailored Income Protection Insurance provides a monthly payment when you are temporarily unable to work due to injury or sickness. The benefit replaces some of your monthly pre-tax income which can be used for mortgage repayments, groceries and other everyday expenses while you're out of action.

  • Must be an Aussie resident between 18 and 60 years of age to apply
  • Receive up to 85% of your income to a maximum of $10,000 per month
  • You can choose a waiting period of 14, 28, 60 or 90 days
  • Choice of 6-, 12-, 24-months or 5-year benefit periods
  • An optional involuntary unemployment cover is available so you can protect yourself if you're ever made redundant
  • Designed for people who are in stable employment and working more than 20 hours per week
  • Select additional cover options that are right for you including permanent disability, kids injury cover and holiday injury cover.

About Virgin Life Insurance

Virgin Money is an Australian financial services business that aims to provide simple and transparent financial products and services to its customers. In addition to life, car, home and contents and travel insurance, it also provides home loans, credit cards and savings and superannuation solutions. Virgin Money is part of the global Virgin brand.

Virgin Life Insurance is issued by TAL Life Limited. Australia’s largest life insurance specialist, TAL Life Limited has been providing cover for more than 140 years and insures more than 3.7 million Australians.

What factors influence the cost of my cover?

The cost of your Virgin life insurance policy may be influenced by:

  • The level of cover you choose. The higher your sum insured, the more you will have to pay for your premiums.
  • The type of cover you choose. There are different costs involved when purchasing life insurance cover as opposed to income protection cover.
  • Options selected. Adding extra cover options to your policy will increase the cost of premiums.
  • Policy discounts. You can save money by taking out more than one policy with Virgin or taking advantage of other policy discounts.
  • Your gender. Cover generally costs more for men than for women.
  • Your age. The older you are when you apply for cover, the more your premiums will cost.
  • Your occupation. High risk jobs, for example if you work on a construction site, are more expensive to cover than if you work in an occupation that isn’t hazardous.
  • Your health. Virgin will consider your health and medical history when assessing your application.
  • Your lifestyle. If you regularly engage in high-risk activities and adventure sports, expect your cover to cost more.

Note: You can pay your premiums fortnightly, monthly or annually, but people who pay annually can access a discount – you can get 12 months’ cover for the price of 11.

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

How do I make a claim?

If you need to make a claim on your Virgin Life Insurance policy, it's important to phone the claims hotline as soon as possible to notify the insurer of your claim. The line is open from 8am to 8pm Monday to Friday (AEST).

A dedicated claims case manager will send out any forms you need to fill out and advise you of the next steps. You will also need a few important documents to support your claim, including:

  • A certified copy of the death certificate, medical attendant's certificate or other relevant document showing evidence of death
  • A certified copy of the life insured's birth certificate, passport, or other official ID document that shows their date of birth
  • A certified copy of an official document that proves your ID, and proof of your relationship to the life insured

These documents are essential for the processing of your claim and can be emailed or posted to the insurer.

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.
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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.

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