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Life Cover

Protecting your family’s future

  • Up to $1.5 million cover depending on your age
  • Premiums up to 25% less than other direct life competitors5
  • No medical or blood tests required to apply
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Understanding Life cover

Life cover is also known as life insurance, term life insurance, or death cover. It is a way of protecting your family's financial future. A lump sum payment in the event of your death or on diagnosis of a terminal illness where death is likely to occur within 12 months.

Our simple online application will give you a decision in around 12 minutes, without the need for a medical check up or blood test. We will ask you some questions about your health, lifestyle and family medical history to determine whether we are able to offer you cover.

  Life cover
What is covered?

Life cover provides much needed financial security in a time of uncertainty. The lump sum payment can help cover mortgage payments, school fees, bills, groceries, other living expenses and funeral costs. The loss of a loved one is enough to deal with and the last thing you want your family to worry about at a time like that is their finances. Life cover gives you the peace of mind of knowing that they will be taken care of if you are no longer around.


The minimum Life cover amount that can be applied for is $100,000. The maximum Life cover amounts you can apply for are based on your current age and are illustrated below:

Age at application Minimum Maximum
16 – 45 $100,000 $1,500,000
46 – 55 $100,000 $1,000,000
56 – 65 $100,000 $500,000
  • Advancement for Funeral Expenses
    We will advance up to $15,000 of the Life cover amount while your claim is being assessed, to assist with the costs associated with funerals or other similar expenses.
  • Inflation Proofing
    All of our policies are inflation proof - meaning they automatically increase each year to keep pace with inflation. Each policy anniversary we increase your cover amount either by the increase in the CPI over the previous year or 5%, whichever amount is greater. So if you take out cover today, you can rest assured it will be worth the same amount if you come to make a claim later down the track.
  • Guaranteed renewable policy
    Once you are accepted, as long as you pay your premiums, we guarantee to renew your Life cover8 until your 99th birthday, regardless of how your health may change.
  • Individual or joint cover
    Up to two people can be insured under the one policy, this can be your spouse/partner or another person.
  • Cooling off rights
    We offer a 30 day cooling off period where you can return your policy and receive a full refund.
  • 24 hour world-wide cover
    The cover applies 24 hours a day and for insured events that occur anywhere in the world.10
Optional cover

Other cover options can be added to your Life cover for added protection. We offer Critical Illness cover and Permanently Unable to Work cover as a part of the award winning1 Allianz Life Plan.


All Australian permanent residents between the ages of 16 to 65 (inclusive) may apply for Allianz Life cover. We will ask you some questions about your health, lifestyle and family medical history to determine whether we are able to offer you cover.

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Allianz is Lifewise

Allianz Lifewise

Australia is one of the most under insured nations in the developed world.


Product Disclosure Statement

View the Product Disclosure Statements.

For terms, conditions and exclusions of our insurance, please refer to the Product Disclosure Statement (PDS).

1 2012 AB+F Insurance Awards "Life Insurance Product of the Year"
5 25% less statement based on cumulative average premiums for $500,000 Death cover of 14 relevant direct life insurers from their websites as at 7th October 2015, based on ages 30, 35, 40, 45 and 50 years.
8 We guarantee to renew your cover until you reach expiry age as listed in the PDS, regardless of how your health may change and dependent on payment of policy premiums.
10 Subject to conditions as outlined in the Product Disclosure Statement and Policy Document

Important note:
The insurance is issued by Allianz Australia Life Insurance Limited ABN 27 076 033 782, AFSL 296559. The information contained on this website is general information only. It does not take into account your individual objectives or financial situation. You should therefore consider the appropriateness of the insurance having regard to your objectives, financial situation and needs. Prior to making any decision you should read the Allianz Life Plan Product Disclosure Statement and Policy Document (PDS). You should seek advice from your financial adviser before deciding on appropriate insurance cover.

* Conditions apply for the $50 Westfield Eftpos card