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Westpac life insurance is not currently available via Finder. You can visit their website at www.westpac.com.au for more information or compare alternative options here.
Westpac life insurance: Our verdict
It comes with a loyalty benefit after you've held cover for 3 years.
It comes with a dedicated consultant – not all insurers do this.
It's guaranteed renewable, but so are many other life insurance policies we looked at.
Living Insurance: Pays out if you suffer from one of the covered medical events.
Income Protection: Provides a monthly benefit if you're unable to work due to sickness or injury.
Needlestick Benefit: Provides a lump sum if you acquire HIV, hepatitis B or hepatitis C whilst working as a medical professional.
Children's Benefit: This pays a lump sum if the insured child passes away or suffers from a specified medical event.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Applying for cover
Eligibility requirements for Westpac cover
The maximum age you can apply for a policy depends on the type of premium structure you opt for. These are as follows:
Stepped premium, if you're aged 15 to 69.
Level premium to age 65, if you're aged 15 to 59.
Level premium to age 55, if you're aged 15 to 49.
You also must be an Australian citizen, permanent resident of Australia or the holder of an eligible spouse/partner or work visa. You must not be working in an ineligible occupation either.
Westpac life insurance pros and cons
Still wondering if Westpac is right for you? Here are the main pros and cons summarised:
Wide range of cover types to cover your particular needs.
Cons
Premium rates can be changed by the insurer under certain circumstances.
How do I make a Westpac life insurance claim?
To make a Westpac life insurance claim, call 1300 551 431 Monday to Friday 8.00am to 6.30pm (Sydney time). It's important to contact them as soon as you can to get the process underway.
Compare life insurers in Australia
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.
Or speak to a specialist to help you find the right policy
An adviser can help you find cover from trusted life insurance brands.
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
To apply for Westpac life insurance, customers can get a quote and apply online, via TAL. Westpac's life insurance is underwritten by TAL Life Limited, and applications can be made through TAL's website or by calling TAL's customer service team. Customers can also apply for cover through a financial adviser. The application process typically involves providing personal and medical information and completing a health assessment.
Yes, TAL offers Total Permanent Disablement (TPD) cover as part of its life insurance policy. The TPD cover pays a lump sum if the insured person becomes totally and permanently disabled, and meets the policy definition of TPD. The definition of TPD and the level of cover offered may vary depending on the specific Westpac life insurance product chosen. More information on TAL's TPD cover can be found on their website and in the relevant product disclosure statement.
Premium payments for TAL life insurance policies can increase over time. However, TAL does offer the option of choosing a stepped premium, where the premium amount increases each year based on your age, or a level premium, where the premium amount stays the same for a set period.
If you can't make your premium payments for TAL life insurance, your policy will lapse and you will no longer be covered. If you experience financial hardship, you can contact TAL to discuss your options, including temporary suspension of your policy or adjustments to your premiums. If you are unable to meet your premium payments due to illness or injury, you may be eligible to make a claim under the policy's premium waiver benefit.
Interim accidental death cover is a temporary benefit that is automatically provided for 90 days while an application for full life insurance cover with Westpac is being assessed. This benefit provides a lump sum payment if the insured person dies as a result of an accident during the 90-day period. However, this cover does not apply if the insured person dies as a result of an illness or natural causes.
Important note. These FAQs were generated by ChatGPT. A real-life human at Finder – James Martin, editor for insurance – reviewed the responses before publication.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, news.com.au, The Telegraph, Explore Travel and Escape. Gary holds a Kaplan Tier 1 General Insurance (General Advice) certification and a Kaplan Tier 1 Generic Knowledge certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
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