24hr Worldwide cover. 24/7 claims service. 28 day cooling off period.

Are you ready for the curve balls life throws at you?

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.

Life Insurance FAQs

  • How much is life insurance?

    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.

  • How do I make a life insurance claim?

    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.

  • Do I need life insurance?

    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.

  • When does life insurance get paid?

    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.

  • How does life insurance work?

    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.

    For detailed information about how CGU Life insurance works, please read our Product Disclosure Statement (PDS) and Supplementary Product Disclosure Statement (SPDS).

Understanding your Life Insurance quote

Your age

Life insurance cost less for younger people since the likelihood of illness or death is lower. As you age, your premium will increase.

Your gender

Statistically speaking, women outlive men. This can lower the insurance premium for women.

Your smoking habits

Smokers carry much higher health risks than non-smokers. So this may affect the premium you pay

Your cover

The higher the death benefit you choose (that is, the lump sum we pay to beneficiaries) the greater your premium.

Annual increase

CGU automatically increases your death benefit every year in line with inflation, and your premium is adjusted accordingly.

Need to make a life insurance claim?

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

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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