Insurance for

Death or illness

The thought of losing a loved one is traumatic. Our life insurance is designed to help take some of your stress away.

Young Singles

Have you experienced a death or illness in the family? We're here to help

Finances may not be the first thing you think of when facing a future without someone you love.

However, if you've seen someone you know struggle financially because of the loss of their partner or parent, you'll have had a glimpse of how difficult it can be.

Taking practical steps to plan your and your family's future in the event of your death or diagnosis with terminal illness can help the people you care about get through an extremely difficult period.

Consider this:

  • The average new mortgage in Australia is $433,0001
  • A typical Australian family spends $812,000 on raising two children2
  • A comfortable retirement for a single person is expected to cost $42,597pa3

Read our guide below to find out:

  • Which Suncorp cover options are available for to help support your spouse or partner financially – both in the short and long term
  • The cover, benefits and main differences between each of the cover options
  • What any money you receive could be used for

Need to make a claim? We promise to make it as quick and easy as possible. Visit our claims page to find out more.

What life cover might I need to help look after my family after I've gone?

If you think you need some sort of life cover, but aren't yet sure what type is best to meet your needs, it can be difficult to know where to start.

Our life insurance product – Life Protect – is designed to help you ensure your family's financial future is safe:

  • It can provide them, as your chosen beneficiaries, with a lump sum of money in the event of your death or if you are diagnosed with a terminal illness.
  • The money could help them get back on track and help protect their future lifestyle. It could go towards:
    • Paying the mortgage and keeping your loved ones in their home
    • Paying for your children's education
    • Funeral and other costs thanks to the Funeral Advancement Benefit
    • Everyday bills and expenses
  • It's easy for to apply – with no medicals or blood tests – and it's probably more affordable than you think.

 

Cover type Why? Benefit More information
Life Protect Help protect your partner or family's financial future for when you're not around Up to $1 million lump sum payment in the event of your death or diagnosis of terminal illness

$10,000 Funeral Advancement Benefit – an advance of $10,000 to your primary beneficiary to help with the costs of your funeral and other expenses, usually within 24 hours after we receive the claim documents.

Find out moreGet a quote 

How can each of these policies help protect my partner and children?

If you're the main breadwinner in your household, your family – whether that's your partner, your children or other people you care about – may rely on you to provide for them. If there was an accident and you were suddenly no longer around, would they be able to cope financially?

  • Life Protect

    Life Protect can help you relax, with a level of cover designed to provide for your family in the event of a claim. Money received could be put towards:

    • Replacing lost income
    • Keeping your family living in their current home by contributing to rent or mortgage payments
    • Your child's future education
    • Keeping the family car running
    • Helping look after the family pet
    • Paying bills
    • Covering everyday expenses like groceries and travel costs

    With Suncorp Life Protect, if you make a successful claim for terminal illness the benefit will be paid directly to you. You can choose to use that money yourself, or share it with your partner.

    In the event you pass away, any death benefit payable under your policy will go to your nominated beneficiary (which could be your partner), or alternatively, your estate.

    Policy terms and conditions including eligibility criteria, waiting periods and exclusions, apply. 13 month exclusion for intentional self-inflicted acts.

How do I work out how much cover I might need?

A life insurance policy is particularly important to consider if you have children, debts or other financial commitments.

Have you ever asked yourself if you’re 100% happy that you’ve got enough cover? Leave it short and your family could struggle financially without you.

Find out how much life cover you may need in just a few minutes. Use our life insurance calculator.

We can help you find the best way to protect your lifestyle, however you happen to live your life!

To find out more about your insurance options, consider the Product Disclosure Statement for a product before purchase. You can also call us now on 1800 177 549. We can assist you to find the best way to help protect your lifestyle, however you happen to live your life! Applying is easy, it can be done online or over the phone within minutes, plus you don’t have to worry about taking any medical tests.

Unsure what insurance is right for you?
Whatever stage in life you're at, we have the information you need

1Australian Finance Group (AFG), July 2014 http://www.afgonline.com.au/mortgage-index-july-2014
2AMP.NATSEM Income and Wealth Report Issue 33, May 2013
https://www.amp.com.au/wps/amp/au/FileProxy?vigurl=%2Fvgn-ext-templating%2FfileMetadataInterface%3Fids%3D1c047918d9ece310VgnVCM1000004320220aRCRD
3ASFA Retirement Standard, September 2014 http://www.superannuation.asn.au/resources/retirement-standard

Information is current as of 01/05/2015. Suncorp Life Protect, Income Protection, Bill Protect and Accidental Injury Insurance products (Suncorp life products) are issued by Suncorp Life & Superannuation Ltd ABN 87 073 979 530, AFSL 229 880 (SLSL) under the Suncorp brand and are distributed by Suncorp Financial Services Pty Ltd ABN 50 010 844 621 AFSL 229885. Information is general advice only and has not taken into account any person's financial objectives, situation or needs. Consider the relevant Product Disclosure Statement and policy document available at http://www.suncorp.com.au/insurance/legal/pds/download before making any decision to purchase.