HBF Life Insurance

HBF

HBF is a provider of life insurance, health insurance, home insurance, car insurance and travel insurance. HBF’s Ezicover life insurance products are issued by Zurich Australia Limited.

Compare HBF Life Insurance

Considering HBF Life Insurance? See our comparison table below for a snapshot of its current products. 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 are sorted by Star Rating (highest to lowest), then by provider name (alphabetically). Check upfront with your provider and read the PDS 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.

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How much does HBF Life Insurance cost?

HBF says the cost of its Ezicover Life Insurance depends on factors including your age, your gender, your amount of cover, and whether or not you smoke. HBF will also take your health and personal pastimes into account.

You can get a quote for HBF Ezicover Life Insurance by comparing direct life insurance with Canstar.

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Eligibility to apply for HBF Life Insurance

According to HBF, Australian citizens and Australian permanent residents between the ages of 19 and 69 (inclusive) may apply for a HBF Life Insurance policy.

Upon application, you may also be asked some simple questions about your health, lifestyle and family medical history to determine what level of cover HBF is willing to offer you and how much it could cost you.

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How to apply for a HBF Life Insurance policy

Before taking out a life insurance policy, it may be beneficial to first compare various providers to help ensure you’re applying for a policy that suits your needs.

If you fit the eligibility criteria, you can apply for HBF Life Insurance by clicking on a HBF life insurance product in Canstar’s comparison tables, after you have entered your occupation, age, gender and whether or not you are a smoker.

You can also apply directly on HBF’s website, over the phone or by completing an application form.

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HBF Life Insurance FAQS

At the time of writing, HBF does not have a dedicated life insurance online portal. If offers support to customers over the phone. 

You can claim with HBF over the phone.  The claims requirements will be forwarded to the claimant to complete, sign and return to HBF

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, HBF will arrange the payment of your benefit to you, your estate or another person acceptable to HBF. If you wish to have your benefits paid to one or more nominated beneficiaries, you can contact HBF to set up a nomination.

HBF says it may pay a $15,000 cash advance benefit to go towards funeral and immediate costs.

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.

When you apply for HBF Life Insurance, your insurance premium is calculated based on factors such as your chosen benefits and level of cover, your age, your gender, whether you smoke, your health and whether you engage in hazardous activities.

The cost of your policy is calculated each year on your policy’s anniversary. HBF says your premium will generally increase each year in line with your age.

At the time of writing, medical tests are not required to apply for HBF Life Insurance. However, in the event of a claim, HBF may require additional evidence or do a full review of your medical records.

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

After buying a HBF Life Insurance policy, you can apply to change your cover up to the maximum cover available for your age at the date of your increase. At the time of writing, the maximum level of cover currently available is $1,500,000.

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, call HBF.

Your application to increase your cover will be subject to the same eligibility criteria that HBF uses to assess your eligibility for the product initially. However, HBF says that you can increase your death benefit by up to $100,000 each year up to 54 years without HBF reassessing your personal circumstances if you marry, divorce, become a parent, become a full-time carer or become a widow or widower.   

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.

This may depend on the condition and policy you decide to take out. When applying for HBF Life Insurance, you must disclose (tell HBF about) any pre-existing medical conditions you have now or had in the past, as well as current medications and health issues.

HBF was established as the Metropolitan Hospital Benefit Fund in 1941 to help Western Australians cover the cost of hospital treatment. HBF is now an Australia-wide health fund that covers over 900,000 members.

HBF is a not-for-profit organisation and says it is Western Australia’s leading health insurer and one of the leading providers of home, car and travel insurance.

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Written by: Tamika Seeto | Last updated: December 12, 2018