Budget Direct Life Insurance

Budget Direct is a provider of life insurance, health insurance, car insurance, travel insurance, home and contents insurance, roadside assistance, and other investment products.
Budget Direct

Compare Budget Direct Life Insurance policies

Considering Budget Direct 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.

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How much does Budget Direct 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 Budget Direct 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 Budget Direct Life Insurance

All permanent Australian residents between the ages of 18 and 64 may apply for a Budget Direct 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 Budget Direct is willing to offer to you.

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How to apply for a Budget Direct Life Insurance policy

If you fit the eligibility criteria, you can apply for Budget Direct Life Insurance by clicking on a Budget Direct 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 Budget Direct on 1800 378 683, or get a quote within 30 seconds on the Budget Direct website.

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Budget Direct FAQs

At the time of writing, Budget Direct does not have an online portal. In order to make a claim, you can either call 1800 378 683 (Mon-Thurs), email life.claims@budgetdirect.com.au or mail the claim to:

Budget Direct Life Insurance

PO Box 342

Toowong, QLD 4066

You or your beneficiaries can claim with Budget Direct Life Insurance by any of the three options above.

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

  • Your policy information
  • Information about the incident (date, time, place)
  • Original birth and death certificate if the incident was fatal
  • Medical reports, test/examination/laboratory results
  • What damage occurred during the incident
  • What other people, vehicles or property were involved in the incident

If your insurance claim is approved, Budget Direct 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.

It depends on whether you buy a policy through Budget Direct or your financial adviser, or if you only have life insurance included through your super fund.

The situation may be different for income protection insurance. The insurance premiums for income protection will be generally tax deductible if you buy it directly from an insurance company or through your financial adviser, but not tax deductible if you buy income protection through your super fund. Ask your tax accountant or financial adviser for details.

Generally speaking, premiums for other forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible. Ask your tax accountant or financial adviser for details.

Budget Direct charges stepped premiums, which increase as you age.

When you apply for Budget Direct 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 Budget Direct Life Insurance; however, in the event of a claim, Budget Direct may require additional evidence or do a full review of your medical records at its expense.

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

After buying a Budget Direct 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 Budget Direct on 1800 378 683 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 Budget Direct Life Insurance, you must disclose (tell Budget Direct 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.

Budget Direct has insured over 1.5 million Aussies since it was founded in 2000. It is part of the international Budget Insurance group.

Budget Direct is the trusted insurer for over 1.5 million Australian drivers. If you’re with Budget Direct, sign up for the Budget Direct Hail Hero App on the Apple iTunes Store or Google Play for Android so you’ll have enough warning to get your car under cover before a hailstorm hits.

Budget Direct has won the prestigious Canstar 5-Star Rating for Outstanding Value Car Insurance every year from 2007 to 2017 – more than a decade of success. This is a truly impressive feat.

These days, many people know Budget Direct for its hilarious Captain Risky TV ad series, or the older “Boojay Boojay” TV ad series featuring Michelle and Michael.

Budget Direct helps its community by supporting several foundations and causes, including Act for Kids to prevent and treat child abuse and neglect, along with charity events such as RSPCA Cupcake Day & Goods Collection, Australia’s Biggest Morning Tea and Movember.

Budget Direct is also an environmentally-minded company. In 2008, it was one of the many companies that advocated for insurance providers to be allowed to present PDS documents electronically rather than in paper form.

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Rating:
Award: Outstanding Life Insurance

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2017 Star Ratings Report

Written by: Regina Collins | Last updated: