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No one likes to think about it, but how would your family cope with the expenses that will occur when you pass away? The cost of your funeral, your credit card and utility bills and any other expenses associated with your death.
Apply for ANZ 50 Life Cover online now and get on with life knowing there is one less thing to worry about.
ANZ 50+ Life Cover is flexible and affordable peace of mind.
- Cost effective – help cover your funeral costs and other expenses from less than $1 a day1.
- Choose your level of cover - up to $15,000 for the Life Benefit, with up to a further $15,000 if death is the result of an accident2.
- Fast claim payments - benefit is generally paid within 2 business days3.
- Certainty - your premiums are guaranteed to never increase.
- Easy to apply - there are no health questions, blood tests or medicals.
- Flexible - you can choose to leave a small inheritance to your beneficiary.
- Choice - your loved ones can use the benefits as they please, including to help cover funeral expenses and other final costs associated with your death.
- Your policy is guaranteed renewable - as long as you pay your premiums when due, regardless of changes in your health.
- Standard premium payment option - your payments stop at the policy anniversary date after you turn 90 but you’re covered for life.
- Capped premium payment option - added security of knowing the maximum you will pay will never exceed your chosen Life Benefit.
- Freedom – you can change your mind with a 21-day cooling-off period4.
- Qantas Frequent Flyer points – you can start earning one point for every $1 of premium paid on eligible ANZ life insurance#. Plus, if you are not already a Qantas Frequent Flyer member, for a limited time eligible policyholders can receive complimentary membership (saving you $82.50)^.
If you are aged from 50 to 70, an Australian or New Zealand Citizen or an Australian Permanent resident and currently residing in Australia, you can apply.
Get a quote or apply for ANZ 50 Life Cover online now.
1Based on a 55 year old choosing a Life Benefit of $7,000 and selecting the Standard premium payment option with a monthly premium of $30.24. or a 55 year old choosing a Life Benefit of $5,000 benefit and selecting the Capped premium payment option with a monthly premium of $27.78.
2Based on a customer choosing the maximum Life Benefit of $15,000 and death occurring as the result of an accident meaning the Accidental Death Benefit provides an additional $15,000. The Accidental Death Benefit will equal the Life Benefit you select. Please refer to the "What are the benefits and when can they be paid?" section of the ANZ 50+ Life Cover Product Disclosure Statement and Policy (PDS).
3The Life Benefit and Accidental Death Benefit are generally paid within 2 business days upon OnePath Life receiving all completed claim requirements.
4 If you cancel your policy within 21 days of receiving the Policy Schedule and no claims have been made under the policy, OnePath Life will refund any premiums paid.
#ANZ life insurance products are issued by OnePath Life Limited. You must be a Qantas Frequent Flyer member and correctly register valid membership details with OnePath to start earning Qantas Frequent Flyer points on eligible OnePath premiums you pay. Points are earned in accordance with the ‘OnePath and Qantas Frequent Flyer Rewards Terms and Conditions (PDF 128kB)’. Membership and points are subject to Qantas Frequent Flyer program terms and conditions. Points are only earned on premiums you pay after OnePath has received your Qantas Frequent Flyer membership details. Qantas does not endorse, is not responsible for and does not provide any advice, opinion or recommendation about these life insurance products or the information provided by OnePath above.
^Complimentary join fee waiver offered by OnePath. This complimentary offer may be withdrawn at any time.
As everyone's needs are different, there are different levels of cover available and you can choose between two premium payment options – Standard or Capped.
You can choose the level of cover that suits you.
| Life Benefit |
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You can choose the level of Life Benefit cover to suit you, up to $15,000. The minimum Life Benefit you can apply for is determined by:
Cover is only available where the premium amount is greater than the minimum premium amount payable of $9.20 per fortnight, $20.00 per month or $240.00 per annum.
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| Accidental Death Benefit |
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This is the same amount payable as your chosen Life Benefit. The Accidental Death Benefit pays a lump sum for a valid claim if you die as a result of an accident. |
| When benefits are paid | ||||||||||||
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The Life Benefit is not payable for death occurring within the first 12 months of cover. However, if within the first 12 months of cover you die and death is not the result of an accident, your premiums will be refunded in full.
The following table summarises when the Life Benefit and Accidental Death Benefit can be paid:
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| Standard premium payment option |
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Premiums are fixed until age 90 so you know the exact amount you will pay.
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| Capped premium payment option |
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You have the added security of never paying more than the Life Benefit you have chosen. For example if you have chosen a $7,000 Life Benefit the maximum you will ever pay is $7,000. After that you pay no more but remain covered for life. Your premium will never increase. |
| How much you'll pay | ||||||||||||||||||||||||||||||||||||||||||||||||
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This depends on whether you choose the Standard or Capped premium payment option, your age at policy acceptance date and the level of cover you choose. You can use the tables below as a guide.
By selecting this option you may pay more over the life of the policy than the Life Benefit you select.
+The projection of your age when premiums stop (premium payment expiry date) is an estimate only and is based on the full payment of premium when due. To find out the premium applicable to you, please refer to the Premium Tables in the Product Disclosure Statement.S. Get an ANZ 50+ Life Cover quote online now. |
1The Life Benefit and Accidental Death Benefit are generally paid within 2 business days upon OnePath Life receiving all completed claim requirements.
Making a claim under your ANZ 50+ Life Cover policy is simple, just:
- call us on 13 16 14 from 8.30am to 5.00pm (AEST), Monday to Friday
- write to ANZ 50+ Life Cover, PO Box 4028 or 12/347 Kent St, Sydney, 2000
- send a fax to 02 9234 5015, or
- email DIclaims@onepath.com.au.
On request, the claim forms will be sent by mail or email and will need to be completed and returned in the reply paid envelope.
These frequently asked questions provide useful information about ANZ 50+ Life Cover.
| What are the premium options available? |
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You can choose between two premium payment options which will determine when you stop paying premiums. The Standard premium payment option means you pay the premium until the policy anniversary after you turn age 90. Cover will then continue without further premium payments until your death. The Capped premium payment option means you pay the premium up until the total premium paid by you equals the chosen Life Benefit. Cover will then continue without further premium payments until your death. With both options, your premium is guaranteed never to increase. |
| What is the maximum cover I can apply for? |
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The maximum Life Benefit you can apply for is $15,000. The Accidental Death Benefit will equal the Life Benefit you select – up to a further $15,000. |
| Is there a minimum amount of cover I can apply for? |
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The minimum Life Benefit you can apply for is determined by the minimum premium amount payable, your age at policy acceptance date and whether you decide to pay your premiums annually, monthly or fortnightly. Cover is only available where the premium amount is greater than the minimum premium amount payable of $9.20 per fortnight, $20.00 per month or $240.00 per annum. The Premium Tables in the ANZ 50+ Life Cover Product Disclosure Statement and Policy (PDS) will demonstrate the minimum Life Benefit available to you. |
| Can I increase or decrease my cover? |
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No, the Life Benefit and Accidental Death Benefit cannot be varied after the policy acceptance date. The Life Benefit and Accidental Death Benefit are guaranteed never to decrease. |
| What will happen if I can no longer afford the premiums? |
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Under the Premium Waiver feature, if you experience a period of financial hardship after 12 months from the policy acceptance date, you may apply for a Premium Waiver for up to a maximum of 3 months over the life of the policy. The Premium Waiver is available for both the Standard and Capped premium payment options. Full cover will continue to be provided while the Premium Waiver is in force. Generally, if you stop paying your premiums when due, the policy may be cancelled in accordance with terms and conditions in the PDS. Please note that if you cancel your policy after the cooling off period, all premiums paid to that point will not be refunded1. |
| How many times can I activate the Premium Waiver? |
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The Premium Waiver is for a maximum of 3 months over the life of the policy if you suffer a period of financial hardship. You may activate the Premium Waiver for 3 consecutive months, or 3 individual months, whichever suits your financial circumstances at the time. |
| What if I stop paying my premiums without activating Premium Waiver? |
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If you stop paying your premiums when due, your policy may be cancelled in accordance with terms and conditions in the PDS. You will be given 20 business days written notice of this intended cancellation and you will also be notified when your cover has ceased. |
| Are there any waiting periods? | ||||||||||||
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Yes, the Life Benefit is not payable for death occurring within the first 12 months of cover. If within the first 12 months of cover:
Cover for the Accidental Death Benefit is immediate upon acceptance and is payable in addition to the Life Benefit if death is caused by an accident after 12 months from the policy acceptance date. The following table summarises when the Life Benefit and Accidental Death Benefit can be paid:
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| Can my spouse/partner be covered too? |
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No, cover is only available to you as the policy owner and life insured. But if your partner or spouse wants cover, they can take out their own ANZ 50+ Life Cover policy. |
| What are the exclusions? |
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The Life Benefit is not payable for death occurring within the first 12 months from the policy acceptance date. Claims arising directly or indirectly from suicide within the first 12 months from the policy acceptance date or reinstatement of the policy will also not be covered. |
| Is there a cooling-off period? |
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Yes, if you cancel your policy within 21 days of receiving your Policy Schedule and no claims have been made under the policy, you will receive a full refund of premiums paid. If you cancel your policy after the cooling-off period, fortnightly and monthly premiums will not be refunded. You will receive a pro rata refund where premiums are paid annually and if you cancel the policy before the next annual payment is due. You can cancel your policy at any time by calling Customer Services on 13 16 14. |
| Are there any benefit limitations? |
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Yes, if you have more than one ANZ 50+ Life Cover policy, amounts payable may be limited to the maximum benefit amount of $15,000 for non accidental death or $30,000 for accidental death. If cover is limited in accordance with the ‘Benefit limitations’ section of the PDS, all premiums paid will be refunded, in respect of the reduced portion of cover will be refunded, on a pro-rata basis. |
| Can I nominate a beneficiary? |
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You can nominate one beneficiary to receive all benefits payable in the event of your death. Nominate a beneficiary in your application to ensure that the details of your beneficiary are on record as soon as your application for cover is accepted. You may change your beneficiary at any time by completing a Nomination of Beneficiary Form. For a copy of this form, please call Customer Services on 13 16 14. Please note, in the event that the beneficiary dies before you or the nomination is otherwise invalid, all benefits will be paid to your estate. Similarly, if you do not nominate a beneficiary, your Life Benefit and Accidental Death Benefit will be paid to your estate. |
| What is the Product Disclosure Statement and Policy (PDS)? |
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The PDS is a document which summarises the important information you should know about ANZ 50+ Life Cover, and is designed to assist you in deciding whether the product is right for you. |
| Who is the insurer? |
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ANZ 50+ Life Cover is issued by OnePath Life Limited (OnePath Life) – a registered life insurance company holding Australian Financial Services License Number: 238341 – OnePath Life is a wholly owned subsidiary of ANZ. Except as set out in OnePath Life’s contract terms (including the PDS), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuer. |
| Is buying life insurance online a secure process? |
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Latest technologies are used to ensure your details are kept confidential and secure. When you obtain a quote online, you can tell if the connection between the servers and your computer is 'secure' if your browser displays a small closed lock ( |
) in the status bar at the bottom of the screen1OnePath life will pay a pro-rata refund where an annual premium has been made and you can cancel the policy before the next annual payment is due.
ANZ 50+ Life Cover is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657, 176 AFSL 238341). OnePath Life is a wholly owned subsidiary of Australia and New Zealand Banking Group Limited (ANZ) (ABN 11 005 357 522, AFSL 234527) an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). OnePath Life is the issuer of the product but it is not a Bank. Except as set out in the issuer’s contract terms (including the PDS), this product is not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuer. The information provided is of a general nature and does not take into account your personal needs and financial circumstances. You should consider the appropriateness of the information, having regard to your objectives, financial situation and needs. You should read the ANZ 50+ Life Cover Product Disclosure Statement (PDS) (PDF 220kB) and consider whether this product is right for you. ANZ will not receive a commission for this product. All ANZ Group staff members receive a salary, and will receive monetary benefits based on the number of ANZ 50+ Life Cover sales achieved.
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