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Life Insurance for Maturing Families

  • Cover for as little as $2.50 a week3
  • No medical or blood tests required to apply
  • Premiums up to 25% less than other direct life competitors5
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Case study

Tony and Gillian

Tony and Gillian met in their early twenties. Gillian was completing her university studies, Tony was an apprentice electrician and working at Gillian’s university when one day they literally “bumped” into one another, in way of a apology Tony took Gillian for a drink and the rest as they say is all history.

They were married for almost 25 years. Tony was now qualified as an electrician and owned his own successful business. Gillian had spent over 15 years raising their two boys, Sam and Chris. With Sam and Chris in their late teens, Gillian had returned to work and was enjoying this new stage in her life.

Life was going just as they had always planned it, they had successful jobs, healthy kids and a lovely family home. Tony had just purchased a new boat and was enjoying taking the boys fishing at weekends when the unthinkable happened…. Tony was killed in a car accident returning from work. Suddenly Gillian and the boys world changed in a moment…

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Tony and Gillian had always been careful with their money making sure that they paid their mortgage and provided for Sam and Chris’s education. They always discussed getting life insurance but Tony had been busy working and growing the business, Gillian busy with organising the family and taking Sam and Chris from one activity to another, soccer on Mondays, Maths tuition on Wednesday’s, the list goes on and on….Anyway, they didn’t expect any thing was going to happen.

With Tony gone, Gillian had to reassess her family’s financial position. Tony and Gillian had always planned to help the boys through their further education, Sam wanted to follow his father into the electrical business and was planning to go to Tafe, Chris, wanted to be a lawyer. On a single income the boys future education was at risk.

Gillian had to make a difficult decision and sell the family home, liquidating the equity and reducing her monthly expenditure. They had to move away from the area they had lived in for the last 15 years and move to a more inexpensive suburb. The affects of Tony’s death was devastating, whilst Gillian and the boys had to come to terms with their loss and grief they also had to face an uncertain financial future and make several dramatic life changing decisions. The journey that Tony and Gillian were on took an entirely different path.

What could they have done differently?

No one plans for the unexpected, but what you can do is to have a plan in place that could provide financial support in the event of a life changing experience. Tony and Gillian may not have faced this financial crisis if they had a personal insurance plan. This could include:
  • Critical Illness: This insurance cover would assist with mortgage repayments and the cost of medical treatment and any time off work needed if either Tony or Gillian suffered a major medical condition such as cancer.
  • Life insurance: This insurance cover would pay off the family mortgage should either Tony or Gillian die prematurely and would provide enough money to cover funeral costs and ongoing living expenses for Sam and Chris.
  • Permanently Unable to Work insurance: This insurance cover would have meant that in the event of either of them becoming permanently disabled they could pay off the mortgage and afford to pay for any medical and rehabilitation assistance.
  • Income Protection insurance: This insurance cover would have replaced 75% of either Tony or Gillian’s income due to taking time off work as a result of sickness and would continue to pay them while they were unable to work.

Planning for your future is important and with Allianz is now quick, easy and inexpensive, above all it will provide peace of mind and a level of security should the unexpected happen.


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This is a fictional event.


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Awards

Allianz rated outstanding value for the fifth year by CANSTAR

Allianz rated outstanding value for the fifth year by CANSTAR.

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Life Insurance Product of the Year Award - 2013 Winner

Allianz is proud to be named the winner of the Life Insurance Product of the Year Award at the 2013 Australian Banking and Finance Insurance Awards.

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Product Disclosure Statement

View the Product Disclosure Statements.

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

3 Indicative premium based on a 34 year-old male non-smoker with $100,000 Life cover
5 25% less statement based on cumulative average premiums for $500,000 Death cover of relevant direct life insurers from their websites as at 5th March 2014, based on ages 30, 35, 40, 45 and 50 years.

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.