Virgin Life Insurance

Protect your loved ones

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FAQs

Taking out a policy

About our cover

My policy

Claims

Bereavement support

Jargon unplugged

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You can apply online at any time or call us on 1300 814 990 (8am-8pm AEST, Mon-Fri).

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In most cases you can be covered in just a few minutes. There are no medicals or blood tests. If for some reason you need to supply further details before your policy is finalised, we’ll let you know.

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Call us on 1300 814 990 (8am-8pm AEST, Mon-Fri) and have your quote reference handy.

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A pre-existing medical condition means an injury, illness, disease, disorder or condition for which in the previous five years prior to taking out a policy symptoms existed that caused the life insured to seek diagnosis, advice, care or treatment from a medical practitioner or health professional.

We give you the flexibility to decide what cover option best suits your needs. Choose from our Quick & Easy option that’s guaranteed or our Tailored option that’s customised to you.

The following are deemed to be pre-existing conditions for any stroke, haemorrhage or heart-related death in respect of the life insured if they occurred in the previous five years before the policy commencement:

  • Body Mass Index of 40 or higher;
  • Systolic blood pressure has exceeded 160 mmHg and diastolic blood pressure has exceeded 100 mmHg;
  • Total blood cholesterol has exceeded 7.0 mmol/L;
  • Being a diabetic with any one of the following: proteinuria, kidney disease, retinopathy, neuropathy or admittance to hospital for treatment of the diabetes.
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With our Quick & Easy option, you're accepted regardless of your medical history, however exclusions apply for pre-existing medical conditions for the first five years following policy commencement. After the first five years, pre-existing medical conditions are covered. If you choose our Quick & Easy option you won’t have to provide any details about your pre-existing condition at the point of sale. If a claim should be made, we’ll use your medical records to see if a Pre-existing medical condition was the cause.

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Our insurance covers your life. It gives you the chance to look after the people you love most if you’re no longer around to help pay the bills.

We give you the flexibility to decide what cover option best suits your needs. Choose from our Quick & Easy option that provides on-the-spot* cover or our Tailored option that’s customised to you.

Virgin Life Insurance pays:

  • a lump sum if you die or are diagnosed with a terminal illness (with a life expectancy of less than 12 months) the policy anniversary following your 80th birthday.
  • a $10,000 advance cash payout on approval of a claim to help your loved ones with legal expenses.

Who can apply?

Absolutely all Australian residents aged 18-65. No exceptions.
Apply online or call us on 1300 814 990, and get covered in a few minutes.

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With Virgin Life Insurance, you can choose a cover option to suit your needs:

  Quick & Easy Tailored
What is it? On-the-spot* cover in a few minutes, with no lengthy health or lifestyle questions asked. Tell us a bit more about your health and lifestyle and you could reduce your premiums.
What is the maximum cover amount? Up to $750,000 cover for death or terminal illness. Up to $1.5 million cover for death or terminal illness.
What isn't covered? Suicide and pre-existing medical conditions are not covered for the first 5 years of the policy. Dangerous Occupations, Pastimes, and criminal activities are not covered at any time. Suicide not covered for the first 13 months of the policy.
Additional exclusions may apply depending on your answers to the questions asked. These will be agreed with you before your policy starts.
No medical or blood test

Not included

Not included

Apply online or by phone

Not included

Not included

Add a partner to your policy

Not included

Not included

Flexible payment options

Not included

Not included

Increase or reduce cover

Not included

Not included

$10,000 advance cash payment on approved claims

Not included

Not included

Option to freeze / fix your premiums

Not included

Not included

Discounts available

Not included

Not included

Access to great Virgin family benefits

Not included

Not included

30 day cooling off period

Not included

Not included

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Once your application for life insurance has been accepted, which in most cases occurs on the spot, some causes of death may be excluded from your policy. These are dependent on factors like occupation, health and lifestyle. If this happens, you’ll be notified when you apply, and these details will be listed in the policy documents you receive.

Here to help

If you’d like any help with understanding your cover options, please call us on 1300 814 990, 8am-8pm AEST, Mon-Fri.

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Claims are paid upon death or upon diagnosis of a terminal illness where your life expectancy is less than 12 months. An advance payment of $10,000 is payable once a death claim has been accepted, and is intended to help your loved ones finalise your estate.

Please call us 13 61 62 (8am-8pm AEST, Mon-Fri) or send us an email to find out more.

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The premium is calculated each year and, as you’d expect, increases as you get older.

That said, as you get older and accumulate more wealth or pay off your debts the level of cover you need may actually reduce.

That’s why with Virgin Life Insurance, you can choose to let your premiums increase each year (indexing your cover) or you can keep your premiums the same each year (freezing your premiums).

Indexing your cover
The premium is calculated each year and increases as you get older.

To help you keep pace with inflation, Virgin Life Insurance also increases your cover amount by the Consumer Price Index (CPI) or 5% - whichever is greater. The premium therefore also increases because the cover amount increases.

Why index? As time goes by the cost of living increases and if the family is growing and you upsize your house (and mortgage), some people find it useful to increase the amount they’re insured for.

You can accept or decline indexation as you choose.

Freezing (or fixing) your premiums
The premium freeze locks in your payments at a certain rate, which reduces your level of cover each year so that it corresponds to your life stage (and premium value).

Why freeze? Once the mortgage and other debts are paid off and the kids head out on their own, some people find that they’re able to accumulate wealth at an increasing rate, and that their need for life insurance diminishes over time.

You can freeze or unfreeze premiums as you choose.

Keeping you informed
Premium rates aren’t guaranteed for the life of your policy. Should they go up, the rise applies across the board, to all policyholders using the same table of rates. If this happens, you’ll be notified at least 30 days in advance.

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If you don't provide information honestly and accurately, your policy may become invalid and any claims made against your policy may be denied.

The stress this could place on your family at such a difficult time could be huge, and no doubt isn’t something you’d want them to have to go through - which is why we ask that you’re 100% honest about your circumstances.

What to do.

We understand that mistakes can happen, so if you left something out when you applied for Virgin Life Insurance, please contact us on 13 61 62 straight away.

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Once your application for Virgin Life Insurance is accepted, if there’s a change in your personal circumstances (such as a change in your occupation or health), your policy remains unaffected. You don’t need to notify us of such changes.

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If you cancel your policy in writing within 30 days of your policy issue, and return your policy documents all premiums paid on that policy are refunded. If you cancel outside those first 30 days, no refunds apply.

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Please contact us on 13 61 62 straight away if you have any questions or concerns. If you feel your complaint is not resolved within 45 days (which we hope won’t happen), you’re well within your rights to take it up with the Financial Ombudsman Service (FOS) - call 1300 780 808 or write to
GPO Box 3, Melbourne, VIC, 3001.

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Australian residents aged 18 to 65 can get Virgin Life Insurance cover, without needing any medical checks or blood tests. Some limitations may apply. Once accepted, provided premiums are paid when due, your policy can continue until the policy anniversary following your 80th birthday (the date your policy will end).

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Yes. What would you like?
  • Discounts apply to the premium for cover amounts over $500,000
  • One month free - when you pay premiums annually over the phone
  • Partner discounts - cover your partner as well for further discounts on premiums

Apply now or call us on 1300 814 990 (8am-8pm AEST, Mon-Fri) to change your level of cover.

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Yes, in most instances you can do both. To find out more call us on
1300 814 990.

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So you keep pace with inflation, Virgin Life Insurance increases your cover amount each policy anniversary either by 5% or by the Consumer Price Index (whichever is greater). Your premiums will increase depending on your personal circumstances.

You can also choose not to have your cover amount indexed.

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It means that premiums are fixed at a certain amount, which has the effect of reducing your level of cover each year so that it corresponds to your age (and what you’re paying for).

Why choose a premium freeze

Many people have a decreasing need for cover as they get older. Once the mortgage and other debts are paid off and the kids head out on their own, it can be easier to accumulate wealth at an increasing rate - so the need for life insurance can diminish over time.

How to freeze your premiums

  • When you take out a policy, you can choose to freeze or not
  • You can freeze premiums at any time during the life of your policy
  • If your need for cover doesn’t reduce, you can unfreeze at any time

To find out more

Read the PDS and your policy documents for more information about premium freezes.

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Virgin Life Insurance offers a range of flexible premium payment options, choose the one that works best for you.

  • Direct debit from a bank account or credit card (MasterCard or Visa). Before your first premium payment is due, we will send you a SMS reminder.
  • Cheque or money order (for annual payments only)
  • Fortnightly, monthly or annually (you get one month free when you pay annually over the phone)
  • You can choose to pay on any day of the week that suits you
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Virgin Life Insurance policies are insured by TAL Life Limited ABN 70 050 109 450 AFSL 237848. TAL protects the financial security of over 2 million Australians.

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Simply call us on 13 61 62 to make changes to your policy.

We can help you:
  • freeze premiums to give you payment certainty
  • adjust the level of cover when you need it
  • change payment dates and frequency
  • add or remove a partner
  • change beneficiaries
  • add or remove cover indexation
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If you don’t pay your premiums within 30 days, your policy will lapse which means your Virgin Life Insurance cover will no longer be valid. You’ll receive notice in writing in case this happens.

How we can help

If the budget is getting tight, please call us straight away on 13 61 62 (8am-8pm AEST, Mon-Fri) and we’ll do what we can to help you get your premium payments back on track. For example:
  • you may be able to lower your premiums by changing the level of cover
  • you can move your ongoing payment due date to a better day of the week, fortnight or month (such as payday).
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If you’ve recently lost someone you love, please accept our sincerest condolences. To make a claim on a policy, please call 13 61 62 or send an email.

Read more about Making a claim or take a look at your policy document.

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In most cases, the first person to contact is the deceased’s doctor, followed by the funeral director and key family members and friends. If an accident occurs, you’ll also need to involve the police.

When death occurs in hospital or at a nursing home, the staff will be able to help explain the steps required, so don’t be afraid to ask.

Doctor.
When someone dies at home and the death has been expected, the first person to contact is their doctor. The doctor will outline the steps required to obtain a Death Certificate - the key document you’ll need to make funeral arrangements.

Funeral director.
The next step is to contact a funeral director to commence funeral arrangements and have the body transferred to a mortuary or funeral home.

Family.
Contact key family members and friends of the deceased. They can help you plan the funeral and put you in touch with others who may wish to pay their respects.

Police.
If death occurs suddenly, for example as a result of an accident, you should call the police. They will advise whether the coroner or the deceased’s doctor needs to be involved as well.

Embassies and consulates.
If death occurs while overseas, contact your local embassy or consulate and they will advise on the most appropriate course of action.

Notifying people and organisations of a death.
Click here for a sample letter which you might like to use to notify people and organisations in writing.

To find out more.
Read about Making a Claim.

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The following key documents are required to help settle their estate.
  • Their Will
  • Birth and marriage certificates
  • Property deeds and mortgage papers
  • Home loan details
  • Lease (legal entitlements for a rented property)
  • Taxation records
  • Insurance policies (e.g. home, contents, car)
  • Life insurance and superannuation policies
  • Savings account details
  • Any documents about pre-paid burial plots
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A funeral director can do the bulk of the arrangements for you. Also talk to family and friends of the deceased, as some may want to help out as a way of honouring the life of the person they loved.

What a funeral director can arrange (in most instances).

  • A transfer of the body to a mortuary or funeral home
  • Lodgement of the Death Certificate with the Registrar of Births Deaths and Marriages
  • The burial or cremation certificate
  • A viewing of the body
  • Newspaper notices, flowers, religious services and so on

How to find a funeral director.

The Australian Funeral Directors Association can give you contact details for local Funeral Directors. Visit them at afda.org.au, email info@afda.org.au or call +61 3 9859 9966.

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Adjusting after someone dies and organising a funeral is never easy, but support is out there if you need it.

For emotional support.

Lifeline runs a 24/7 anonymous telephone counselling service.

Your local government community information service should also be able to put you in touch with support groups and counsellors in your area.

For funeral arrangements and so on.

The Australian Funeral Directors Association can point you in the direction of people in your area. Visit them at afda.org.au, email info@afda.org.au or call +61 3 9859 9966.

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A Will is a legal document that sets out the deceased’s wishes regarding the distribution of their belongings. If a person doesn’t have a Will, the decision regarding the distribution of the Estate is left to the law courts.

If you take out a Virgin Life Insurance policy, you will receive a FREE Will Kit that could help save your family from unnecessary stress, as well as money in legal fees.

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A Will is a broad ranging document that outlines your wishes regarding who gets what when you die. It may take into account the following:
  • the distribution of your Estate
  • funeral arrangements
  • pre-paid cemetery plots
  • beneficiaries and special gifts
  • organ donation
  • appointing an executor.
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If a person hasn’t made a Will, their Estate is divided up amongst family members using a formula set by law. This formula does not take into account the deceased’s wishes (for example if they made a verbal request at some point in their life). In cases where there are no close relatives, the Estate may be paid to the state or territory government.

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The Estate is all the possessions of a deceased person - in particular the assets and liabilities left when they die.

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Probate is a court order issued by the Supreme Court that approves the validity of a Will. The probate process is put in place to ensure that a deceased person’s Estate is properly accounted for and distributed as intended and in accordance with the law.

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The Executor is the person you choose to manage your Estate when you die. Their main responsibility is to distribute your assets (after any debts have been paid) to the beneficiaries named in your Will.


Beneficiary
That’s the person or people you can elect to have your claim paid to. If a nomination is made, details of the nominated benefit recipient/s will be shown in the policy. If a change or revocation is made in relation to a nomination, the change will be valid only once we have confirmed the change in writing.

Dangerous Occupation or Pastime
Means engaging in work or a lifestyle activity that involves explosives, weapons, heights above 20m, depths below 30m or speeds above 130km per hour other than as a fare-paying passenger on a commercial airline.

Financial Ombudsman Service (FOS)
Independently resolves disputes between consumers and financial services providers. FOS provides a national service that is free to consumers. Visit fos.org.au or contact 1300 780 808 for more information.

Lapsed Policy
An insured policy which has been terminated because you haven't paid the premium(s) on it.

Life insurance
A contract between an owner (often the insured person) and a life insurance company to make a lump sum payment on the death of, or diagnosis of a terminal illness of, the insured person. Payment of the lump sum is subject to the terms and conditions of the contract.

Life insured
Means the person whose life is insured by the policy. Usually when you take out a policy on your own life, you will be both policy owner and life insured. If you and your partner both insure yourselves under a policy, you will jointly be the lives insured and the policy can be owned by either one of you or by both of you. It’s your choice. A partner can be anyone you choose to take out a policy with. A discount may apply when you take out a joint policy.

Policy owner
Means the person who legally owns the policy and to whom benefits are payable.

Premiums
Payments to the insurance company to buy a policy and to keep it in force.

Pre Existing Medical Condition
Means an injury, illness, disease, disorder or condition for which in the 5 years prior to the death benefit commencement symptoms existed that caused, or would have caused, the life insured to seek diagnosis, advice, care or treatment from a medical practitioner or health professional.

The following are deemed to be pre-existing conditions for any stroke, haemorrhage or heart-related death in respect of the life insured if they occurred in the 5 years prior to the death benefit commencement:

  • Body Mass Index of 40 or higher;
  • Systolic blood pressure has exceeded 160 mmHg and diastolic blood pressure has exceeded 100 mmHg;
  • Total blood cholesterol has exceeded 7.0 mmol/L;
  • Being a diabetic with any one of the following: proteinuria, kidney disease, retinopathy, neuropathy or admittance to hospital for treatment of the diabetes.

If a claim is denied because of a pre-existing medical condition, all the premiums paid for the life insured’s Quick & Easy cover will be refunded.

TAL
Means TAL Life Limited (the insurer).

‘You’ and ‘your’
Refers to either the policy owner or the life insured as required by the context.

Virgin Money
Means Virgin Money (Australia) Pty Limited (the promoter).

‘We’, ‘us’ or ‘our’
Means TAL and/or Virgin Money if applicable and as required by the context.


* On the spot cover for Australian residents aged 18-65 with our Quick & Easy option. Exclusions apply including pre-existing medical conditions, suicide, and dangerous activities. See the Product Disclosure Statement for more information.


^ Buys around $100,000 cover for a female non smoker aged 18-39, on standard Tailored option premium rates. Premiums vary depending on personal circumstances and increase with age and level of cover.


This information is of a general nature only and does not take into account your personal financial situation, needs or objectives. As we don’t know your financial needs we can’t advise if this insurance will suit you. Please consider the Product Disclosure Statement and Financial Services Guide before deciding whether to buy this product.


Virgin Life Insurance and Virgin Income Protection Insurance promoted by Virgin Money (Australia) Pty Limited ABN 75 103 478 897, authorised representative No 280884 of Virgin Money Financial Services Pty Ltd ABN 51 113 285 395 AFSL 286869, and distributed by TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260. St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 issues the Involuntary Unemployment Cover. All other benefits insured by TAL Life Limited ABN 70 050 109 450 AFSL 237848. For information about Virgin Money, TAL & St Andrew's please see the Product Disclosure Statement and Financial Services Guide.