Allianz Life Insurance

Allianz is a provider of life insurance, health insurance, car insurance, travel insurance, home and contents insurance, home loans and other investment products.

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Considering Allianz Life Insurance? See our comparison table below for a snapshot of its current market offerings. Please note that this table has been formulated based on a non-smoker male in a professional occupation who is seeking cover. The results are sorted by estimated monthly premium (lowest to highest).

To compare other life insurance policies, please click here.

How much does Allianz Life Insurance cost?

The cost of your life insurance will vary depending on several different factors such as your age, occupation and choice of insurer. You can get a quote for Allianz Life Insurance by comparing direct life insurance on our website. Compare the quoted premiums to the average premiums for direct life insurance on our database.

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Eligibility to apply for Allianz Life Insurance

All permanent Australian residents between the ages of 16 to 65 (inclusive) may apply for an Allianz Life Insurance policy. Upon application, you’ll be asked some simple questions about your health, lifestyle and family medical history to determine what level of cover Allianz is willing to offer to you.

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How to apply for an Allianz Life Insurance policy

If you fit the eligibility criteria, you can apply for Allianz Life Insurance by clicking on an Allianz Life Insurance product in the Canstar direct life insurance comparison tables for your occupation and age, and confirming your choice of policy. You can apply for a quote by clicking on the link in our comparison tables. If you need help obtaining a quote, call Allianz on 13 1000, or make use of itsinstant chat option on the Allianz website.

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Allianz FAQs

Yes; in fact, it’s encouraged that members manage their policy online, and Allianz has a dedicated online portal. By clicking here, you can access statements, update your policy, lodge a claim and make payments.

You or your beneficiaries can claim with Allianz Life Insurance by calling Allianz on 13 1000 or visiting its claims portal on the Allianz website.

Before you submit a claim, you should have these details at hand:

  • Your policy information
  • Medicare records
  • Medical history from the treating GP or specialists
  • Death and/or birth certificate

If your insurance claim is approved, Allianz will arrange the payment of your benefit. If your claim for an income protection benefit is approved, this will involve ongoing payments while you are eligible to continue receiving a benefit, rather than one lump sum payment.

Generally speaking, premiums for forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible, according to ATO (Australian Taxation Office). Ask your tax accountant or financial adviser for more details on this.

The ATO however, states that you can claim the cost of premiums you pay that cover the loss of your income, such as income protection insurance. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details on this.

Allianz Life Insurance charges stepped premiums, which increase as you age.

When you apply for Allianz Life Insurance, your insurance premium is calculated based on your chosen benefits and level of cover, your age, your occupation, your gender, whether you smoke, your health, family history and whether you engage in hazardous activities. The cost of your policy is recalculated each year on your policy’s anniversary, so your premium may increase for your particular age bracket or your occupation category.

Premium rates are not guaranteed. For more information about stepped premiums versus level premiums, read this article.

At the time of writing, medical tests are not required to apply for Allianz Life Insurance; however, in the event of a claim, Allianz may require additional evidence or do a full review of your medical records at its expense.

Once you’ve applied for cover, Allianz will contact you if a medical examination is required throughout the claims process.

After buying an Allianz Life Insurance policy, you can apply to increase the amount of your cover at any time. Your application to increase your cover will be subject to the same eligibility criteria.

You should be able to change your level of cover by adding or removing features or coverage, and by increasing or decreasing your sum insured for each type of cover included in your life insurance policy. If you wish to change your policy inclusions, contact Allianz on 13 1000 to discuss your options.

Keep in mind that increasing your level of cover or adding your spouse or children to your policy is likely to mean you pay a higher insurance premium.

It depends on the condition. When applying for Allianz Life Insurance, you must disclose (tell Allianz about) any pre-existing medical conditions you have now or had in the past, as well as current medications and health issues. Find out more about pre-existing conditions for life insurance here.

Allianz was established in 1914 as the Manufacturers’ Mutual Accident Insurance Association (MMI). Allianz AG acquired the majority shareholding in MMI in 1998 and changed its name to Allianz Australia in 2000.

At the time of writing, more than three million Australians are insured with Allianz. Allianz has made its name highly memorable with its “Aaaaallianz Insurance, how can we help?” ads on TV for home and car insurance. Its latest campaign is: “Don’t just be insured. Be inspired.”

Source: Allianz Australia Insurance Ltd.

Allianz has several philanthropic initiatives, contributing to many local community activities and charities including the Cancer Council, RSPCA, Starlight Children’s Foundation, Australian Paralympic Committee and the Young Achievers Awards.

Allianz is also an environmentally-minded business, having been a carbon neutral business since 2012, and being a member of the Australian Government’s Greenhouse Challenge Plus program.

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Award: 2017 Life Insurance Star Ratings

Written by: Regina Collins | Last updated: September 18, 2017