Frequently Asked questions

We offer three types of cover (subject to conditions): Life cover, which pays a lump sum on death or terminal illness; Critical Illness cover, which pays a lump sum in the event that the Life Insured suffers one of the defined Critical Illness events; and Permanently Unable to Work cover, which pays a lump sum if you are permanently unable to work due to sickness or injury.

Life cover is also known as Term Life insurance, or Death cover. It provides a lump sum payment (subject to conditions) in the event of the life insured’s death; or on diagnosis of a terminal illness, where death is likely to occur within 12 months. 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 between the ages of 16 and 65 to apply for Life cover. As long as you pay your premiums, we guarantee to renew your cover until your 99th birthday, regardless of changes ‎to your health condition.^4,1

Permanently Unable to Work Insurance is also known as Total and Permanent Disability (TPD) Insurance. It provides a lump sum payment (subject to conditions) in the event that you are permanently unable to work due to sickness or injury. Permanently Unable to Work Insurance replaces income that has been lost as a result of the permanent inability to work and helps you cover debts and living expenses. You could use the benefit payment to 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. In certain circumstances this may mean the end of a cover or the insured’s policy.¹

You must be between the ages of 16 and 55 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 your 65th ‎birthday, regardless of changes to your health condition.^4,1

Critical Illness Insurance, is also known as trauma cover or serious illness cover. It provides a lump sum payment (subject to conditions) in the event that you suffer a defined Critical Illness⁵. The funds can be used to pay for treatment and other medical costs, or any associated costs related to lifestyle ‎changes (such as reducing working hours). This can help relieve your family’s financial burden at a very stressful ‎time. Payment of a benefit under Critical Illness cover reduces the cover amount of any remaining benefits under Life cover and Permanently Unable to Work cover. In certain circumstances this may mean the end of a cover or the insured’s policy.¹

You must be between the ages of 16 and 55 to apply for Critical Illness cover. Once you are accepted, as long as you pay your premiums, we guarantee to renew your cover until your 70th ‎birthday, regardless of changes to your health condition.^4,1

How much Life, Permanently Unable to Work and Critical Illness cover you need, will vary according to your individual circumstances. In general, you should consider:

• Any other Life, Critical Illness and/or Permanently Unable to Work cover that you may have, including Life and Permanently Unable to Work insurance provided through your superannuation fund (if any);
• What you can afford;
• Whether or not you have dependents (e.g. spouse, partner and/or children) who are reliant on your income; and
• Whether or not you have a mortgage, or any other debts for which you are responsible such as credit cards and other loans.

If you are unsure about the level of cover you require speak with a financial adviser before making a decision.

Once your Policy is current, you can apply to increase your cover or add additional benefits at any time. Your application will be subject to our normal assessment process and eligibility criteria, so increases are not guaranteed.

Any cover you already have in place will be unaffected by future applications for increases, even where we decline ‎the increase or agree to cover you subject to special terms.

To apply for an increase, please contact us on 13 1000.

Despite the fact that most Australians have some level of life insurance cover within their superannuation, you should check ‎the adequacy of this cover, as it might be less than you expect and may not meet your needs.

When determining whether or not the cover provided by your superannuation fund is sufficient you need to take into account the total benefit paid by your superannuation fund. This total may be made up of your account balance and an insured benefit or may be limited to the insured benefit only. You should also check whether or not your insurance could be continued if you were to change employers in the future. If you are unsure of the level of cover provided through your superannuation fund, you may wish to speak to the fund provider, a financial adviser or an accountant.

Self-employed people face similar needs in many instances to employed people – with a few additional challenges. Self-employed people may have business partners, personal guarantees on business loans as well as the standard mortgage, debts and dependents to consider. In addition, many self-employed people will find that their superannuation fund may not provide insurance.

We recommend you seek advice on how life insurance can fit into your personal financial plan.

You can apply for cover if you are a holder of Australian or New Zealand Citizenship or an Australian Permanent Residency Visa and you are permanently residing within Australia at the time of your application.

You must also be between the ages of:

• 16 and 65 to apply for Life cover;
• 16 and 55 to apply for Critical Illness cover; and
• 16 and 55 to apply for Permanently Unable to Work cover

Yes, up to two people can be insured on one policy. This could be you and your spouse/partner, or another person.

Yes, but there cannot be more than two people covered on any one policy.

No, applications cannot be made on behalf of another person.

No benefits will be paid in any circumstances where the Life Insured has not applied for the cover personally or where the application was completed on behalf of another person.

We will ask you some questions about your health, lifestyle, occupation and family medical history to determine whether or not we are able to offer you cover. Once a policy has been accepted and issued, and provided your premiums are paid as due, we guarantee to renew your policy until the Policy Anniversary after your 99th birthday for Life cover; 70th birthday for Critical Illness cover and 65th birthday for Permanently Unable to Work cover.^4,1

We will not disclose your sensitive information such as details about your health for any purpose other than to underwrite your insurance cover or assess a claim.

No medical examinations or tests are required at the time of the application. In the event of a claim, as part of our assessment process, we may require additional evidence (including medical evidence or information from your employer) or we may do a full review of your medical records. You may also be asked to undergo examinations or other reasonable tests to confirm the occurrence of an insured ‎event, at our expense.

Yes. If you have smoked tobacco or any other substance in the last 12 months, then you do need to tell us when you apply for insurance.

No, currently the Allianz Life Plan product is not suitable for use within a SMSF.

No, only the Policy Owners have access to your Life Insurance Policy. To discuss adding a co-owner to your policy please call us on 13 1000.

Premium rates are not guaranteed and may change from time to time. Any change, however, must apply to a group (for example all 35 year olds) and will not be made to individual policies regardless of any changes to your health, occupations or pastimes. Your premium is calculated each year based on the cover you have selected, any increase in your cover amount by way of inflation proofing and your age at that time.³ You will be notified in writing at least thirty days prior to any changes in premiums taking effect.

Premiums are influenced by the following factors:

• Your age
• Your gender
• Whether or not you smoke
• The cover you select
• Your state of health
• Pastimes
• Occupation (in the case of Permanently Unable to Work cover only).
• Other policies that you hold with Allianz.

Premiums are initially calculated for one year, with each year's premium payable in advance.

Premiums are payable annually or monthly (at no extra cost). This can be by Direct Debit from a Visa, Mastercard, or American Express credit card or from a bank account.

No. The total monthly or annual premium can only be debited from one account or credit card.

No, our premiums are stepped and are based on Age, Smoking Status, Gender, Health and Lifestlye and Sum Insured. You can also call us on 13 1000 for a premium rates chart.

Your cover begins on the day we accept your application for cover and the ‘commencement date’ will appear on your Policy Schedule. Waiting periods apply to certain Critical Illnesses and Permanently Unable to Work benefits.^5,6 Your claim is assessed against a specific definition before any claim can be paid. These specific definitions are located in the Product Disclosure Statement. Exclusions apply to all covers, please refer to the ‘When is a benefit not payable? (Policy exclusions)’ and under each cover section in the Product Disclosure Statement.

Yes, the Allianz Life Plan provides cover under this policy 24 hours a day for insured events that occur anywhere in the world.⁹

However, the policy will not cover the Life Insured where they travel to or remain in a country or part of a country ‎where an Australian government ‘reconsider your need to travel’ or ‘do not travel’ travel warning has been issued or ‎an evacuation has been coordinated. Please see the Allianz Life Plan PDS for further details.

You may cancel your policy within 30 days of receiving your first policy schedule, which is accompanied with a letter from us confirming your purchase of the policy. This period is known as the ‘cooling off’ period. You need to do this by writing to us and we will refund any premiums paid unless a claim has been, or can be made under the policy.

No, the Allianz Life Plan is not an investment product and is only designed to pay a lump sum benefit in the event of death, terminal illness or in the case of Permanently Unable to Work cover, sickness or injury. If you cancel this policy at any time other than during the cooling off period you will not get any money back.

For all Life insurance claims, please call us on 1300 362 108 between the hours of 9:00am and 6:00pm, Monday to Friday, and speak with a Life Claims Consultant.

Our Claims staff will ask for some details and send you a claim form to complete, sign and return to us. They will ‎also advise you of any other supporting documentation required to assess your claim. This may include:‎

• a death certificate;‎
• a medical report or test result;‎
• a laboratory result; or
• any other documentation relevant to the claim

Please contact us to advise us of your intention to claim as soon as possible after an insured event has occurred.

No, the lump sum payment will be paid to the policy owner(s) or, in the case where the policy owner and life insured are the same person, their estate.

It is important to understand that the assessment process and the length of time it takes varies according to the circumstances of the claim, the type of claim and how quickly we receive all the requested information. Our claims team will keep you updated on the progress of the claim and will assess each piece of information promptly as it’s received. You can assist by returning claim forms as quickly as possible and by encouraging your medical advisers to do so as well.

Where a Death Certificate is issued without a cause of Death a Coroner's Report may be required. Often this leads to a delay in the determination of the claim.

Your medical history helps us to look at the circumstances leading to the claim and to confirm that you have complied with your Duty of Disclosure. We will request medical histories in many instances, particularly where the claim occurs on a policy that is not very old, or where the diagnosis is not clear-cut. This does not mean that we do not believe your claim is valid. We are simply ensuring that the terms and conditions of the policy are met.

Allianz strives to resolve disputes as amicably and as quickly as possible. Find out more about our internal complaints procedure and the external disputes resolution scheme we subscribe to.

Allianz strives to resolve disputes as amicably and as quickly as possible. Find out more about our internal complaints procedure and the external disputes resolution scheme we subscribe to.

A Will is a legal document in which you state how you want your assets distributed after you die. A Will directs how your assets are distributed according to your wishes and helps ensure your family’s needs are met. It also allows you to nominate an Executor, who is the person responsible for making sure your wishes are met.

Most of your life is spent working to build up assets - a home, car, boat, superannuation, life insurance and/or other insurance; and other investments. By making a Will your valuable assets are passed on to the people you choose, and to provide security for those you are responsible for.

Anyone who falls into one or more of these categories should consider making a Will:

• aged 18 years or older;
• own an asset of value i.e. house, car, life insurance;
• have children;
• have been recently engaged, married or divorced;
• have experienced a major life changing event.

If you die without having made a Will you are considered to have died ‘intestate’. This means that the Supreme Court must appoint an Administrator to allow them to distribute your assets which will be divided according to the Laws of Intestacy, which may not be in keeping with your wishes i.e. a payout from your life insurance policy may not go to your intended beneficiary if you do not have it stated in a Will.

An Executor is a person named in your Will to look after your estate. Anyone can be appointed as an Executor of the Will providing they are over 18 years of age and have the ability to give an oath to the court. If no Executor is named in your Will, the Supreme Court will appoint an Administrator.

A Beneficiary is someone who inherits an item in the Will, and can be a person, group of people, or an organisation, such as a charity.

Yes, you can change your Will as often as you like. People are most likely to make changes to their Will upon a major life event such as getting married or divorced, having children, or acquiring new assets and/or investments, such as a life insurance policy.

Your old Will becomes invalid upon the making of a new Will.

You can have a Will written and updated by private trustees and solicitors who will usually charge a fee. You can also have your Will written by some Public Trustees at no cost however, they must act as the Executor of your Will. Check with the state or territory at www.moneysmart.gov.au/life-events-and-you/over-55s/wills-and-power-of-attorney

You can also purchase a do-it-yourself Will kit at Australia Post, however it is essential that your Will is signed and witnessed properly otherwise it will be invalid.

To obtain further information in regard to Wills, please refer to the Australian Government website www.australia.gov.au/topics/law-and-justice/wills-and-powers-of-attorney

You have the option of adding one co-owner to your policy. Co-owners have full rights over the policy including cancellation, and they would receive any death benefit paid. We do not list traditional Beneficiaries as a means of keeping our premiums competitive. See About Wills for more information.

Allianz Life has adopted the Life Insurance Code of Practice, which contains minimum standards of service and minimum standard medical definitions that customers can expect from insurers. The Code can be found on the Financial Services Council website.

Allianz Life forms part of the Allianz Group of companies, a global financial services organisation.

In Australia, Allianz Life is a life insurer and is regulated by the Australian Prudential Regulation Authority (APRA).

Allianz Life is a related body corporate of Allianz Australia Insurance Limited and Allianz Australia Limited, and in turn we are all part of the Allianz Group of companies.

Allianz Life, Allianz Australia Insurance Limited and Allianz Australia Limited share the Allianz brand in Australia and a number of internal business services to support our customers and provide an integrated Allianz insurance experience.

Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered on this website. Refer to the relevant Product Disclosure Statements and Policy Documentation and information provided on this website by Allianz Australia Life Insurance Limited for details.

Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered on this website. Refer to the relevant Product Disclosure Statements and Policy Documentation and information provided on this website by Allianz Australia Insurance Limited for details.