Why Life Insurance?
You can help protect the life you’re building and your loved ones from financial hardship with Suncorp Life Protect insurance. With a lump sum payment from $100,000 up to $1 million, if you die or become terminally ill, you could feel more relaxed knowing that your loved ones could be spared the financial strain of keeping the household running.
What's included in Suncorp Life Protect Insurance?
Suncorp Life Protect insurance covers your death by accident, illness and natural causes. Intentional self-inflicted acts, such as suicide, are also covered after having the policy for 13 months. Here’s how it works:
Payout is generally a tax-free* lump sum, with no restrictions on how it's spent
You select how much you need based on your individual circumstance. Consider your own circumstances and the level of cover you may need. We offer cover between $100,000 and $1 million. Unsure how much you might need? Try our interactive calculator for a guide on the amount that you may need. It is important to choose the right amount of life cover to help protect your family.
*These comments are a guide only and do not take into account changes in taxation laws or your particular circumstances. Please ask your tax adviser or the Australian Taxation Office about your own circumstances
$10,000 early payout for Funeral costs
Our Funeral Advancement Benefit usually pays out within 24 hours of receiving your death certificate and completed claim form, to help with the costs of your funeral or other immediate expenses.
You could receive your payout early if you're diagnosed with a terminal illness
If a registered doctor diagnoses you, we will advance your full payout. This could help you to arrange your financial affairs or make some lasting memories with your loved ones.
Approved claims generally paid out in 2 business days
Only ever deal with one dedicated claims manager. How to make a claim.
Nominate up to 5 beneficiaries
These are the people who will receive your payout.
Covered worldwide 24/7
Feel reassured that you're covered no matter where you are.
Covered until age 99, unless cover stops earlier
Unlike life insurance inside superannuation, Suncorp Life Protect may cover you for longer. Check the details of your current superannuation.
Flexibility to increase or decrease cover to keep up with life's changes
If you’ve had a baby, bought a house or made any other changes to your financial situation, you can change the level of cover you have on your policy. It’s easy - just call us 1800 177 549.
Other Life Insurance products
Life Protect Express
If you have a pre-existing medical condition, you won't be eligible for our Life Protect insurance. Instead, you may be interested in Life Protect Express, which covers you for death in any circumstance other than caused by the pre-existing condition or any other policy exclusions. See page 10 of the Life Protect PDS. To apply, you simply need to answer the questions in the Life Protect application, after which you will automatically be offered Life Protect Express.
Cover for death by accident only
If you’re over 60, or after more affordable cover, Suncorp also offers an Accidental Death Plan. Unlike Life Protect insurance, this only covers you if you die as a result of an accident.
Income Protection and Life Insurance bundle
If you don't yet have Income Protection or Life Insurance you might like to consider getting both in the one convenient policy with MyStyle. MyStyle offers you greater choice, so you can configure your policy with the features that matter most to you.
Need to talk?
Our friendly team of insurance specialists at our Australian based call centre can answer all your questions. Alternatively, if you feel your financial requirements are more complex and you require financial advice, you can turn to a Suncorp Financial Planner for help in assessing your risk and working out the cover that could meet your needs.
How much cover do you need?
The amount of cover you may need will depend on the needs and lifestyle of your family, such as your current financial commitments e.g mortgage, your family's anticipated future needs e.g kids education, your super and any other investments.