Frequently Asked Questions – Seniors Life Insurance
Does Seniors Life Insurance cover accidental death?
Yes, while your policy is active, Seniors Life Insurance covers you for death caused by accidents, and pays your loved ones triple your benefit amount, up to $600,000.
Depending on your personal circumstance, this may be a way to make sure your loved ones are financially protected if the worst was to happen. This can be even more important to offer you peace of mind as you get older.
Do Seniors Life Insurance policies cover funeral costs?
There are no restrictions on how you or your family can use a life insurance payout, so the money can go towards a funeral, estate legal fees, ongoing living costs, and more. With Seniors Life Insurance, your family may get 20% of the benefit amount in advance when a claim is made (subject to approval), so they can cover immediate funeral expenses while the rest of the claim is being assessed.
Does Seniors Life Insurance require a blood test?
No, you don’t need to have any blood tests or medical exams to take out Seniors Life Insurance.
Does my Seniors Life Insurance policy expire?
Seniors Life Insurance is specially designed with Australian seniors in mind, you can get cover later in life. You can apply if you’re an Australian resident aged 45–79, and you’ll be covered until you turn 85 when the policy expires.
Do my life insurance premiums go up?
Seniors Life Insurance is a stepped premium policy which means that it will generally increase each year. To learn more about how premiums are structured, read the Product Disclosure Statement.
Are there exclusions to Seniors Life Insurance?
Seniors Life Insurance immediately covers death by any cause, and terminal illness, however suicide is excluded for the first 13 months. It’s important to read your Product Disclosure Statement so you can familiarise yourself with your policy’s benefits, and to make sure you are appropriately covered for your personal circumstances.
How do I apply for Seniors Life Insurance?
Applying for Seniors Life Insurance is easy, and can be done in just a few minutes, without any complicated paperwork. All you have to do is call our Australia-based team on 1300 050 510 and speak to one of our friendly team members who can answer any questions you might have. Another benefit for seniors is that there are no medicals or blood tests required to apply.
How much cover can I get?
The choice is up to you. You can choose a cover amount that suits you, and your family’s needs, from $10,000 up to $200,000 in increments of $5,000. This means that you’ll have the peace of mind knowing that an agreed amount of money could be paid to you, or your nominated beneficiaries when you (or they) need it the most. This could give you an added feeling of security if you have left the workforce, or are on limited savings as you get older.
Cover the people that matter most today
For total peace of mind for your entire family, call our friendly team now. We’re here between 8am and 8pm Monday to Friday on 1300 050 510. You can also request a call-back at a time that suits you.