No one knows what the future will bring. That’s why it helps to plan ahead. Virgin Life Insurance can help provide financial support if you’re no longer around to take care of your family.
Why choose Virgin Life Insurance?
- Choice of cover options:
- Tailored: Answer some health and lifestyle questions and apply for cover up to $1.5 million;
- Quick & Easy: On-the-spot1 cover up to $250,000.
- Flexible - Select the level of cover to suit your family's needs, when you pay and how often.
- Affordable cover - Starts from just a few dollars a week.5
- More ways to save - Cover your partner as well and get a discount on premiums. Discounts also apply to the premium for cover amounts over $500,000.
- Applying is easy - Get cover in a few minutes over the phone or online.
- 30 day money back guarantee - So you can be sure of your decision.
Find out more about the cover options you have and the meaning of capitalised terms in the PDS.
Why get cover?
You might be thinking you don't need life insurance.
The truth is, your family does.
Deep down, when we’re married or have kids, we know we should consider life insurance. We insure our cars, our homes and other material belongings, yet we often don’t stop to think about insuring ourselves. Or the future.
What if something unexpected were to happen? Do you have a 'Plan B' that’ll help see the family through?
When you take into consideration all the day to day expenses the average family needs to sort out, it adds up over time.
Average family’s ongoing expenses
- Other debt repayments
- Car insurance & expenses
- Medical bills and health insurance
- School fees
- Other living expenses
Having a life insurance policy gives you added peace of mind. It's about doing something special for the people you love most in the world. It’s a way of protecting them financially if you’re no longer around to help.
Some confronting facts:
Australia is one of the most underinsured countries in the developed world. Did you know:
- 95% of Australians don't have adequate insurance cover? (Lifewise / NATSEM Underinsurance Report 2010*)
- 60% of families with dependent children didn't have enough life cover? (IFSA / TNS Protection Gap Research 2005)
- Insurance cover within super typically amounts to just 20% of what’s required? (Lifewise / Rice Warner Actuaries)
- One in five Australian families will experience the unexpected death, serious accident or illness of a parent? (Lifewise / NATSEM Underinsurance Report 2010)
* National Centre for Social and Economic Modelling, (Life & Disability) Underinsurance Report, University of Canberra, 2010
Cover options for Aussie families
With Virgin Life Insurance, we provide flexible options so you can select the cover right for you. Compare our cover options below:
Compare cover options
Quick & easy Tailored What is it? On-the-spot1 cover in a few minutes, with no lengthy health 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 $250,000 cover for death or terminal illness. Up to $1.5 million cover for death or terminal illness. What isn't covered? Suicide is not coverd for the first 5 years of the policy. Pre-Existing Medical Conditions are not covered for the first 5 years of the policy, but are covered after this if you have been completely Free of the Condition for the 5 years following the Cover Commencement Date. Dangerous Occupations, Dangerous Pastimes, Known Genetic Conditions and criminal activities are not covered at any time.
See the Product Disclosure Statement for more details.
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 Apply online or by phone Add a partner to your policy Flexible payment options Increase or reduce cover $10,000 advance cash payment on approved claims Option to freeze / fix your premiums Discounts available Access to great Virgin family benefits 30 day cooling off period
Read the Product Disclosure Statement (PDS)
Sure, it’s a few minutes of your life that you’ll never get back, but it’s worth it—just so you know exactly what you’re covered for. Download the PDS.
Any questions about our cover options? We’re here to help. Just call our friendly customer care team on 1300 814 990.
See how much cover you may need
When researching or applying for life insurance, it pays to keep the following in mind.
Check what cover you have already
Many superannuation accounts include a level of life insurance. If it’s not enough to look after the essentials, then additional top-up cover could make up the difference. When you arrange cover outside super, your life insurance stays with you wherever you go - even if you change employers. Top up cover can cost less than you think.
Do your sums
Unsure how much life insurance you need? Our life insurance calculator can help you select the right amount of cover for you.
And as your circumstances change over time, the flexibility of Virgin Life Insurance means you can apply to adjust the amount you’re covered for as life rolls on.