Woolworths Life Insurance

Woolworths life insurance: Our verdict

Read a more detailed review of Woolworths life insurance

Still wondering if Woolworths Life Insurance is right for you? Here are the main pros and cons summarised:

Are you a Woolworths Rewards member? Take out a life insurance policy, save up to 10% on cover.

There are many good reasons to take out Woolworths Life Insurance, the main one being that if you're a Woolworths Rewards member, you're entitled to a 10% discount on your premium.

What are the membership benefits of Woolworths Rewards?

The benefits of being a Woolworths Rewards member don't end with taking out an insurance plan. Members also enjoy the following:

• One point for every dollar spent instore and online at Woolworths supermarkets, or at BWS and Caltex Woolworths fuel outlets. This excludes outlets in Tasmania, as well as Star Mart and Star Shop.
• Exclusive member-only offers instore, online and via email.
• A discount of 4 cents per litre at Caltex Woolworths fuel outlets when you spend $30 or more at a Woolworths supermarket.
• The option to convert your savings to Qantas Points in the Qantas Frequent Flyer program. Each 2000 Woolworths Points = 1000 Qantas Points.

What other insurance discounts does Woolworths offer?

As well as the 10% discount on life insurance if you a Rewards member, you can enjoy discounts on a variety of other types of Woolworths insurance as well, including the following:

• Car Insurance. Woolworths will beat any quote on comparable comprehensive car insurance if you are over 25 years of age. Save up to 15% online.
• Home & Contents Insurance. Save up to 20% if you purchase your policy online.
• Pet Insurance. Woolworths will better any quote you find on comparable pet insurance.

Compare direct life insurance policies below

Name	Product	Maximum Cover	Maximum Entry Age	Terminal Illness Benefit	Claims Acceptance Rate	Average Claim Time	Sum Insured
NobleOak Life Insurance Finder Award		$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 one month free for a limited time - apply by 21 December 2023. Offer T&Cs on insurer website apply.	Get Quote View details	Compare	loading Fetching your data...
TAL Accelerated Protection Life Insurance Finder AwardBonus		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.	Get Quote View details	Compare	loading Fetching your data...
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.	Get Quote View details	Compare	loading Fetching your data...
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 required.	Get Quote View details	Compare	loading Fetching your data...
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.	View details	Compare	loading Fetching your data...
RAC Life Insurance Bonus		$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.	Get Quote View details	Compare	loading Fetching your data...
Real Family Life Cover Bonus		$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.	Get Quote View details	Compare	loading Fetching your data...

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Level of Protection UnsureNone$100,000$200,000$300,000$400,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,250,000$1,500,000$1,750,000$2,000,000

An adviser can help you find cover from trusted life insurance brands.

• Get competitive quotes from multiple brands
• Lower rate of declined claims (according to ASIC)
• Save time and effort

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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.

Questions you still might have about Woolworths life insurance

• When does Woolworths Life Insurance cover start?

  A. Cover will commence on the acceptance date that is stated on the policy schedule.

• When does cover end?

  • A. Cover will end:
    • From the date of payment of the total benefit amount in respect of a life insured and there is no surviving partner life insured
    • The date the policy is cancelled by the policyholder
    • The date the policy is cancelled following no premium payments being made

• Can I change my cover?

  • A. You can apply to:
    • Increase your cover
    • Decrease your cover
    • Change from smoker to non-smoker status
  • Any request is subject to acceptance by Woolworths.

• How can I pay for my cover?

  • A. You can choose to have payment for cover deducted fortnightly, monthly or annually. Payment can be made by direct debit, cheque or credit card.

• Is there a cooling off period?

  • A. Each policy will feature a 30-day cooling off period whereby you can cancel the policy provided no claim has been made.

• How is my policy taxed?

  • A. Premiums are generally not tax-deductible and tax will generally not be required to paid on benefits paid to beneficiaries.

These are just some of the questions that you may have regarding the Woolworths Life Insurance policy. Don't hesitate to speak with a representative from Woolworths prior to applying for cover to ensure you are aware of all the terms and conditions of the policy.