This is a summary only. For terms, conditions, limits, definitions, exclusions, waiting periods, exclusion periods, and taking a combination of covers, please refer to the Product Disclosure Statement
We offer three types of cover (subject to conditions): Life cover, which pays a lump sum on death or Terminal Illness 10; Critical Illness cover, which pays a lump sum in the event that the Life Insured suffers one of the defined Critical Illness events 5; and Permanently Unable to Work cover, which pays a lump sum if you are permanently unable to work due to sickness or injury 6.
Life insurance is also known as Term Life insurance, or Death cover. It provides a lump sum payment (subject to conditions) if the Life Insured dies or is diagnosed with a Terminal Illness, where death is likely to occur within 24 months.10
The funds can be used for any purpose you choose, such as cover mortgage payments, school fees, bills, groceries, other living expenses and funeral costs. Life insurance is a way of protecting the financial future of your loved ones if you were no longer around to provide for them. It can help your family cover debts and living expenses at a time when they need it most. You must be aged 16 to 65 to apply for Life insurance. As long as you pay your premiums, we guarantee to renew your cover until the policy anniversary after your 99th birthday, regardless of changes to your health condition.4,1
Permanently Unable to Work Cover is also known as Total and Permanent Disability (TPD) Insurance. It provides a lump sum payment (subject to conditions) in the event that the Life Insured is permanently unable to work due to sickness or injury 6.
Permanently Unable to Work cover must be taken out in conjunction with Life Cover. The funds can be used for any purpose you choose, such as cover your debts and living expenses, provide for medical treatment or ongoing care, or to pay for any home modifications that are required as a result of your disability. Payment of a benefit under Permanently Unable to Work cover reduces the cover amount of any remaining benefits under Life cover and Critical Illness cover by that payment amount. In certain circumstances this may mean the end of a cover or the Life Insured’s policy.1 The Life cover Buy Back feature allows you to reinstate the Life Cover Amount that was reduced 12 months after full payment of a Permanently Unable to Work claim.11
You must be aged 16 to 55 to and working on a permanent basis in an eligible occupation type for at least 20 hours per week to apply for Permanently Unable to Work cover. Once you are accepted, as long as you pay your premiums, we guarantee to renew your cover until the policy anniversary after your 65th birthday, regardless of changes to your health condition.4,1
For terms, conditions and exclusions about our life insurance, please refer to the Product Disclosure Statement
Important information: This product is not suitable for purchase within a superannuation fund. We would encourage you to speak to your financial planner or accountant who may be able to provide you with advice.
Important note: Information on this website is general information only and does not take into account your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider the appropriateness of the information, having regard to your objectives, financial situation and needs. Terms, conditions, limits and exclusions apply. Before making any decision you should consider the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS). If necessary, please seek advice from a Financial Adviser before deciding on appropriate insurance cover.
Existing Customers: If you are an existing customer, click here for up to date policy information and access to PDS, documents and forms.
Important note:
The insurance is issued by Allianz Australia Life Insurance Limited ABN 27 076 033 782, AFSL 296559. The information on this website is general information only and does not take into account your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider the appropriateness of the information, having regard to your objectives, financial situation and needs. Terms, conditions, limits and exclusions apply. Before making any decision you should consider the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS). If necessary, please seek advice from a Financial Adviser before deciding on appropriate insurance cover.