Insuranceline Life Insurance

Insuranceline is Australia’s longest-standing provider of life insurance policies with a range of different coverage options and payment methods. Purchased by TAL Direct Pty Limited during the year 2008, Insuranceline Australia is known for offering straightforward life insurance policies that people can rely on.

Published January 26, 2021

Compare, Save and Buy Life Insurance

Or call us on:

1300 135 205

About Insuranceline Australia

Insuranceline Australia was established in 1999 as a provider for simple life insurance products before TAL Life Insurance purchased it during the year 2008. Being backed by one of the oldest and most prominent insurance company across Australia, Insuranceline has successfully provided coverage to more than 750,000 Australians.

Insuranceline provides affordable and flexible life insurance products that offer you real financial security. As per Roy Morgan’s Single Source survey, Insuranceline Australia received an excellent customer satisfaction of 79.2% during the year 2017.

Financial strength

A stable life insurance company would have the financial capacity to meet their client’s needs and honour their claims in the long run. However, when considering Insuranceline Life Insurance, it is essential to note that the company is owned and backed by TAL Life Insurance. Therefore, their financial rating is evaluated based on TAL’s.

Having a 17.8% market share, TAL stands out as the leading provider for life insurance products. Due to their remarkable organic growth, acquisitions, mergers, and strategic partnerships, TAL Life Insurance is known for having the highest claim acceptance rate at 97.9% across Australia.

Insuranceline life insurance policy options

Life Cover

Insuranceline Australia’s direct life insurance plan pays out a lump sum amount to beneficiaries listed on the policy upon the insurers’ death. Typically, this type of cover will pay out if the policyholder is diagnosed with a terminal illness, and they have been given 12 months or less to live.

This life insurance plan applies to all Australian residents between the ages of 18 – 65, entitling them to a maximum benefit amount of up to $1.5 million. However, it is essential to note that specific waiting periods may apply. For instance, Insuranceline’s Life Cover does not pay for intentional self-injury or suicide during the first 13 months from when the policy initiated.

Basic Life Cover

Insuranceline’s Basic Life Coveris designed for individuals who want a quick and easy life cover solution without undergoing any medicals. This particular insurance plan offers up to $250,000 worth of life coverage and technically works like Life Cover. However, it includes additional exclusions as compare to the Life Cover.

If you apply for this type of policy, you generally won’t be covered under their terminal illness benefit. Generally, you also won’t be covered for suicide or intentional self-injury in the first 5 years after your policy was initiated.

Optional Illness and Injury Cover

This policy option allows you to add one of the three optional illness and injury cover options onto your life insurance policy for an additional fee. Typically, this cover type pays up to 95% of your life insurance benefit. This is generally a maximum of $250,000 when you suffer an illness or injury which is outlined in your PDS.

After you’ve claimed, the total claim amount is taken from your life cover benefit to pay for major illness, serious injury or cancer. When you pass away, your beneficiaries will generally be able to claim the remaining life insurance benefit.

Generally, you’ll be able to choose between the following cover options:

  • Major illness coverage:This type of life cover allows you to protect you and your loved ones from any major setbacks that are caused due to critical illness or injury.
  • Cancer coverage: This category of Basic Life Cover is designed to support you and your family financially if you are diagnosed with Cancer.
  • Serious injury coverage: Serious Injury Cover allows you to protect you and your family if you suffer a serious injury.

Income Protection

Insuranceline’s income protection plan offers you peace of mind by ensuring that your family is taken care of if you are unable to work due to your illness or injury. Insuranceline’s income protection plan entitles you to a monthly benefit of up to 85% of your salary if you’re unable to work for more than a month.

Moreover, Insuranceline Life Insurance allows you to opt for a flexible repayment method that suits your salary cycle. You can either pay your premiums bimonthly, monthly, quarterly or annually — whatever is deemed convenient to you. To qualify for their income protection, you’ll need to be employed for at least 20 hours a week or have been self-employed for at least six months.

Remember to have your proof of income ready when applying for any income cover.

Does this insurer provide value for money insurance?

Whether this company is the right option for you generally depends on your requirements. It may be a good idea to request quotes from leading insurers to compare the costs and the features and benefits. Typically, this should help you find the cover that meets all of your requirements at a price suited to you.

We make it easy for you to compare policies online with our powerful comparison engine.

Buy with confidence today for peace of mind tomorrow.

Insuranceline life insurance – Pros

Insuranceline insurance – Cons

What are some of the features offered by the company?

  • Terminal illness benefit: In some cases, the insurer may pay out certain life cover benefits while still alive if you have been given 12 or fewer months to live because of a terminal illness.
  • Life events feature: Gives you the option to increase your cover after specific events like taking out a mortgage or starting a family without having to
  • Advanced payouts: They may offer you an advanced payout of $10,000 if you need to pay any unexpected costs. However, this is subject to certain conditions so it’s best to check your Product Disclosure Statement.

Take note: These are a few of the general built-in benefits you can expect from an Insuranceline life insurance policy. If you’d like to add extra optional benefits, it’ll typically add to the cost of your premiums.

How to claim a benefit

If you’d like to claim on your Insuranceline policy, you’ll need to contact them via phone or email. You’ll then need to download and complete your claim forms and send them back to your insurer. When submitting your forms, you should also include a copy of the policyholders death certificate and proof that you are the beneficiary.

Frequently Asked Questions and Answers

  • Who owns Insuranceline?

    Insuranceline is owned by TAL Direct Pty Limited, Australia’s life insurance specialist, looking after more than 3.7 million residents and having paid out over $2.3billion in claims in 2015 alone.
  • How do you get an Insuranceline quote?

    Generally, you’ll be able to get a quote from this insurer by calling their phone line and speaking with a representative. Alternatively, you could request a quote online.
  • How do you cancel your Insuranceline policy?

    If you’d like to cancel your policy with this insurer because they no longer serve your requirements, you’ll typically have two options available to you. You could cancel over the phone, or you can send them an email informing them of your intention to cancel
  • What is Insuranceline’s contact number?

    You can use the Insuranceline phone number, 1300 880 750, between 8 am and 8 pm EST Mondays to Fridays. Alternatively, send them an email, customerservice@insuranceline.com.au, or fax on 1800 730 099. If you have any further questions simply send your query to questions@insuranceline.com.au. Lastly, feel free to visit their website: www.insuranceline.com.au.
  • How to apply for a life insurance policy from Insuranceline?

    If you’re an Australian resident, you can apply for Insuranceline cover online or over the phone. Once you’ve found the right policy to suit your requirements, you’ll typically have a 30-day cooling-off period to decide whether it’s the right option for you.

Get an instant Life Insurance quote

Or call us on:

1300 135 205

Other topics

Ask an Expert?