None of us like to think of the ‘what ifs’. But what if you or your partner suddenly died, or were diagnosed with a terminal illness? Could your family cope financially? CGU life insurance is designed to provide financial protection if you ever receive such devastating news.
Those curve balls can be thrown at any time of the day or night, anywhere in the world. Our life insurance protects you, wherever you are.
When taking out cover, you can nominate up to five beneficiaries for your life insurance, including your children.
If you change your mind after taking out CGU life insurance, we’ll give you a full refund if you cancel within 28 days.
If you die, we give your loved ones an advance payment of $10,000 for your funeral. This amount forms part of your final death benefit.
Throughout life, circumstances change. It’s easy for you to change the beneficiaries listed on your insurance policy. Remember, you can have up to five beneficiaries.
Your life insurance premium depends on a number of factors. First up, it gets higher when you increase your sum insured. You should note that we protect your cover by increasing your sum insured each year in line with inflation.
Then, we take into account your age, gender and health before calculating your final premium.
To see what a life insurance may cost you, complete a quick quote. It only takes a few minutes.
Making a claim with CGU is quick and hassle-free. You can lodge a claim any time of the day or night by calling 13 24 80. Then, you’ll be introduced to your very own claims specialist, who will support you throughout the claim.
Life insurance isn’t compulsory. But it’s a great idea if you’re the primary bread-winner in your family. Or, you may have large debts that you don’t want to burden others with in the event that you die or become terminally ill.
Once a claim has been made (which must be made within 30 days of your passing, or your diagnosis with terminal illness; and can be made by your nominee or your estate), we will request some documentation to support the claim. This may take time to collect.
Once we have the information we need, we will complete our investigations and pay your claim promptly.
In the event of death, we can pay an advance funeral benefit of up to $10,000 straight away.
Think of life insurance as a safety net for your loved ones. Of all the insurances, it’s the one you’ll never want to claim on – but if you ever had to, you’d be very glad it was there. It provides a lump sum of money to people you nominate if you were to die or be diagnosed with a terminal illness.
The lump sum can be chosen by you and is generally enough money to pay off outstanding debts, such as mortgages, and to give those left behind enough to live on.
Life insurance cost less for younger people since the likelihood of illness or death is lower. As you age, your premium will increase.
Statistically speaking, women outlive men. This can lower the insurance premium for women.
Smokers carry much higher health risks than non-smokers. So this may affect the premium you pay
The higher the death benefit you choose (that is, the lump sum we pay to beneficiaries) the greater your premium.
CGU automatically increases your death benefit every year in line with inflation, and your premium is adjusted accordingly.
Simply call 13 24 80 at any time to start the process. You’ll be asked to supply a range of documentation, and we may need to conduct investigations into the claim. You’ll be notified at every step of the way.Visit the Claims hub
CGU Insurance Limited ABN 27 004 478 371 AFSL 238291 is the administrator of the insurance cover provided under CGU Life. The insurer is AMP Life Limited ABN 84 079 300 379 AFSL No. 233671, a member of the AMP Group