Bankwest Life Insurance


Bankwest logo

Bankwest is a provider of life insurance, credit cards, bank accounts, home loans, personal loans and other insurance products. At the time of writing, their life insurance product, Bankwest Classic Life Insurance, issued by St Andrews, is no longer available for purchase to new customers.

If you are looking for a new life insurance policy, you can compare a selection of other providers with Canstar. Or, if you are an existing Bankwest life insurance policy holder, you can view details about their product below.

Compare Bankwest Life Insurance

Considering a life insurance policy? While Bankwest is no longer offering its product to new customers, you can compare a selection of other current life insurance providers in Canstar’s database using the table below. Please note that this table has been formulated based on a male non-smoker aged 30-39 in a professional occupation who is seeking cover. The results, which all have links to providers’ websites, are sorted by Star Rating (highest to lowest), then by provider name (alphabetically). Check upfront with your provider to confirm the details of a particular policy, and whether it meets your needs, before deciding to commit to it.

To compare more life insurance policies, please click here.

Compare Life Insurance

Target Market Determinations for Bankwest products are available on Bankwest’s website.

Bankwest Life Insurance FAQS

At the time of writing, Bankwest does not have a dedicated online portal.

You or your nominated beneficiary can claim with Bankwest by calling St Andrew’s, who issues Bankwest’s Classic Life Insurance product. Bankwest says claims must be made in writing within 120 days of the day of the incident giving rise to the claim.

Before you submit a claim, you may need to have certain details on hand, such as:

  • Your policy information
  • Information about the incident, if applicable (date, time, place)
  • Original birth certificate and death certificate if the claim relates to somebody’s death
  • Medical reports, test/examination/laboratory results, if applicable

If your insurance claim is approved, Bankwest will arrange the payment of your benefit to you or your nominated beneficiary or beneficiaries.

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

If you hold a Bankwest Life Insurance policy, you can apply to increase or decrease the amount of your cover at any time provided you have not been eligible to claim any benefits. Your application will be subject to Bankwest’s assessment and it does not guarantee to accept your application. If you wish to change your policy inclusions, contact Bankwest 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 result in you having to pay a higher insurance premium.

Bankwest was founded in 1895 by the Western Australian government to provide for farmers. In 2008, it joined the Commonwealth Bank Group.

Bankwest claim to be responsible for a number of banking “firsts” in Australia, including drive-through bank branches, WA’s first after-hours cash dispenser (the pre-cursor to the ATM), and Australia’s first bank to fully implement electronic data processing. They also claim to be the first bank in WA to give women jobs as bank tellers.

Compare Life Insurance with Canstar

Written by: Tamika Seeto | Last updated: December 17, 2018