Coles Life Insurance
Written by: TJ Ryan
“Down, down, prices are down…”
Policy Options: What Coles life insurance covers
The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.
Life Insurance Policy
- Financial protection for your loved ones if you die or become terminally ill.
- Paid in a lump sum.
- Cover ranges from $100,000 up to $1 million, depending on your age and needs.
- Optional cover: Kids Cover to protect each of your children or grandchildren aged 2-17 years old at the time of your application. Provides a lump sum payment of $25,000 should your child pass away or suffer a covered serious illness or injury. Provides $500 for fractures to the arm, leg, or skull.
- Optional cover: Accidental Injury Cover for financial help after you suffer an accidental injury that prevents you from working. Acts like income protection cover, with lump sum payments that can help with costs like transportation, medical bills, additional care, and living expenses.
- Price beat guarantee for comparable Direct Life Insurance policies.
- Discount of 20% for flybuys members who purchase Coles Life Insurance online or by phone.
- Collect extra flybuys points when you hold a Coles Life Insurance policy and shop at Coles.
About Coles Bank
Coles began in 1914 as a discount store with the slogan “nothing over 2/6”. They branched out into financial services in the 21st century.
Coles Home and Home Insurance Plus are underwritten by WFI Insurance Limited, which is part of Australia’s largest insurer, Insurance Australia Group (IAG), and has more than 160 years of insurance experience.
You can download the Coles Insurance Claims Assistant App on the Apple iTunes store.
How Coles Bank supports the community
- Charitable contributions: Coles follows the international London Benchmark.
In 2014-2015, Coles’ direct support of charity partners was $36.55 million, and their customers, team members, and supplies raised an additional $7.24 million.
Coles’ national charity partners are:
RedKite for children with cancer
Bravery Trust for veterans and their families
SecondBite and FoodBank for feeding disadvantaged Aussies
Red Dust for Indigenous youth
Guide Dogs Australia for the blind, and
the Cancer Council’s Daffodil Day for cancer research
- Australian-grown: 96% of fruit and vegetables and 100% of meat, milk and eggs are Australian sourced.
- Animal cruelty ethics in suppliers: All beef meat has no added hormones; all chicken meat comes from RSPCA approved farming; all pork is sow stall free; all Coles brand eggs are cage-free; all Coles brand seafood comes from sustainable fisheries and aquaculture farms.
- Fairtrade ethics for workers: Coles won the 2014 and 2013 awards for Fairtrade Retail Chain of the Year. The production of Coles’ MIX Apparel clothing brand is outsourced to Cambodia, so Coles provides a free healthy meal every day to each of their 850 workers at the AbleMax factory, to make sure they get enough nutrition.
How Coles Bank supports the environment
- Became carbon neutral in 2013.
- Reducing greenhouse gas emissions by 15% per year.
- Supporting environmental initiatives such as Earth Hour and Sydney’s CitySwitch.