Compare Life Insurance Cover | Virgin Money

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Take one thing off your worry list and protect what matters most. Virgin Money stopped offering new Life Insurance policies on 1 April 2021 – the good news is, we’ve partnered with comparison site Lifebroker to help you with your insurance needs. They can help you compare some of Australia’s leading life & income protection insurance companies so that you can choose the right cover for you.

Why get life insurance

We get it, it’s not nice to think about not being around to take care of your family, but it can happen. Life insurance can take the worry out of today, knowing that their tomorrow is covered.

Life insurance considers all day-to-day expenses for you and your family and how that looks over time. It can provide financial support for your family including:

mortgage and debt repayments
household bills
car expenses
medical bills
school fees

You can tailor your life insurance with a range of optional extras and select your level of cover to suit your family’s needs, when you pay and how often.

Compare quotes and options now

Benefits

This information is general advice only which means it does not take into account your personal financial situation, needs or objectives. Before acting on it or making a decision, consider whether the advice is appropriate for you, and read the Product Disclosure Statement (PDS) and Policy Document issued to you when you purchased this product. The PDS contains important information which will help you understand the product, including what's covered and what's not covered.

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Lifebroker comparison service: 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 (Virgin Money) has partnered with Lifebroker Pty Ltd (AFS Licence number: 400209) to help you compare a range of Life and Income Protection Insurance policies. Virgin Money earns a commission from Lifebroker for each customer that purchases a policy through the website or contact centre. Lifebroker do not compare all life insurers or policies in the market.

For more information about the services provided by Virgin Money (Australia) in relation to the Lifebroker comparison service, please see the Financial Services Guide

Existing Virgin Life Insurance and Virgin Income Protection policyholders: From the 1st April 2021, TAL Life Limited ABN 70 050 109 450 AFSL 237848 of Level 16, 363 George Street, Sydney NSW 2000 (TAL Life) will no longer be issuing new Virgin Life Insurance and Virgin Income Protection benefits and Hallmark General Insurance Company Ltd ABN 82 008 477 647 AFSL 243478 of Level 5, 66 St Georges Terrace, Perth, WA, 6000 (Hallmark General Insurance) will no longer be issuing the Involuntary Unemployment Cover which is a benefit available within Virgin Income Protection.

Existing policies and claims will continue to be administered under agreement with the insurers, TAL Life and for Involuntary Unemployment Cover, Hallmark General Insurance.

Virgin Income Protection and Virgin Life Insurance are 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 (TAL Direct). TAL Direct has been authorised under an arrangement with the insurers to enter into, vary or cancel insurance cover on behalf of the insurers as if it were the insurers.

For information about the services provided Virgin Money (Australia) and TAL Direct in relation to Virgin Life Insurance and Virgin Income Protection, please see the Financial Services Guide.

Things you need to know
1. On the spot cover for Australian Residents aged 18-65 with our Quick & Easy option. Exclusions apply including Pre-Existing Medical Conditions, Known Genetic Conditions, suicide and intentional self injury, Dangerous Occupations and Dangerous Pastimes. See the Product Disclosure Statement for more information.
2. 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.
3. Offer of 25,000 Velocity Points is available to eligible customers who purchase a new Virgin Life Insurance or Virgin Income Protection Insurance policy and have not previously received points for that same policy number. This offer is valid for new policy purchases from 13 May – 2 September 2019 and is subject to change or removal at the discretion of Virgin Money. A valid Velocity membership number must be provided at the time of application in order to receive the Velocity Points. If you're not a Velocity member you can join Velocity for free. A maximum of 25,000 Velocity Points per policy applies (including where multiple people are insured under a single policy). In order to receive the Points, your minimum monthly premium must not be less than $80 per month per policy, the qualifying premium must remain the same or be of greater value than $80 per month per policy, all premiums must be paid and up to date during the qualifying period (the qualifying period is 6 months following the commencement date of the policy) and the policyholder's name must match the Velocity name and account number provided. If the policy is issued in more than one name, then only one person may be nominated for receiving the Velocity Points. Points will be credited to the eligible Velocity account up to 30 days after the qualifying period in a single lump sum provided all premiums are paid and up to date during that period. This offer cannot be used in conjunction with any other Virgin Money Life Insurance or Virgin Money Income Protection offers, is not redeemable for cash and is not transferrable. The Velocity Membership Terms and Conditions apply.
4. The quoted redemption fares are correct as at 17 December 2018 and are subject to change. Fares are subject to availability, and seats are limited and may not be available at peak times or on all flights. Price is based on a one way or return economy Reward Seat fare or business Reward Seat fare as specified, and must be booked on the Velocity website. Taxes, fees and carrier charges are payable in addition to Velocity Points redeemed and are not eligible for Points earn. Price may vary until ticketed. All payments made on the internet or on the phone via debit/credit card are subject to a payment surcharge between 0.6% to 1.3% of the total value of the card transaction (capped at $70 per passenger per booking). For Rewards Seat bookings on: (i) Virgin Australia operated flights; (ii) Delta Air Lines operated and marketed flights between Sydney and Los Angeles; or, (iii) Etihad Airways operated flights, a carrier charge will apply, view more information here. Add $40 or 5,200 Points for international short haul bookings or $70 or 8,800 Points for international long haul booking per person for bookings made on the phone. A checked baggage allowance is included in your fare, view Reward Seat Baggage Allowances for details. Name changes are not permitted. Other changes, refunds and cancellation are permitted prior to travel and may incur a fee and any applicable fare difference. You may also be entitled to a refund under the Australian Consumer Law in certain circumstances. View the Velocity Rewards Seat fare rules for more information. Some flights may be operated by a partner airline. Different baggage allowances and conditions may apply to these flights. Full terms and conditions at velocityfrequentflyer.com.