Kogan Life Insurance

Kogan logo

Kogan may be best known as an electronics and household goods retailer, but it’s also a provider of a range of insurance products including life, home and contents, landlords, car, travel, health, and pet insurance.

Kogan Life Insurance policies

Kogan offers a Life Cover life insurance product, allowing policyholders to choose a benefit amount of between $100,000 and $1 million. Kogan advertises its cover as involving no paperwork, medical or blood test upon application.

At the time of writing, Kogan’s Life Cover offers the following optional add-on benefits:

  • Children’s Insurance
  • Serious Illness Insurance
  • Total and Permanent Disability Insurance
  • Accidental Death Insurance

Canstar does not currently compare Kogan Life Insurance, but you can compare other life insurance providers on our database:

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How much does Kogan Life Insurance cost?

Kogan says the cost of its life insurance premiums depends on factors including your age, benefit amount and insurance plan. Kogan Life Insurance also takes your gender, smoking status, state of health, family history, occupation and participation in hazardous activities into account.

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Eligibility to apply for Kogan Life Insurance

According to Kogan, Australian citizens and Australian permanent residents between the ages of 18 to 64 years may apply for a Kogan Life Cover policy. You can apply to add the Serious Illness Insurance and the Total and Permanent Disability options if you are between 18 and 59 years of age. You can apply to add children’s insurance if the child to be insured is an Australian resident between 2 and 17 years of age.

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

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How to apply for a Kogan 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 Kogan Life Insurance over the phone or you can request a Life Cover quote on its website.

At the time of writing, if you apply for Life Cover over the phone, and Kogan needs further information to assess your application, you will automatically be provided with interim insurance for up to 30 days against Accidental Death while Kogan assesses your application. Contact Kogan for further details.

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Kogan Life Insurance FAQS

At the time of writing, Kogan Life Insurance does not have an online portal for its life insurance product.

You or your nominated beneficiary should firstly call or email Kogan Insurance to advise them you will be lodging a claim. Kogan will then send you a form to be completed, signed and returned to Kogan by mail. Kogan may also require your treating doctor or specialist to complete a form at your expense.

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, Kogan will arrange the payment of your benefit to your nominated beneficiary.

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.

Kogan Insurance charges stepped premiums, which increase as you age.

When you apply for Kogan Life Insurance, your insurance premium is calculated based on factors such as your age, your chosen benefits and insurance plan, your gender, smoking status, health, family history, occupation, and participation in hazardous activities.

The cost of your premium is recalculated each year on your policy’s anniversary, so your premium may increase for your particular age bracket or your occupation category.

Kogan Insurance says that on the policy anniversary following your 99th birthday, your premium will stay the same for the remaining term of the policy for the insured.

At the time of writing, no medical or blood tests are required to apply for Kogan Life Cover. However, in the event of a claim, Kogan says it must receive proof supported by one or more medical practitioners and all relevant information such as medical tests, examinations and results must be provided to Kogan.

After buying a Kogan Life Cover policy, you can apply to increase or decrease your insurance or change from a single plan to a joint plan (or vice versa). If you wish to change your policy inclusions, contact Kogan Insurance to discuss your options.

Keep in mind that increasing your level of cover or adding your spouse to your policy is likely to result in you having to pay a high insurance premium.

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

Kogan’s portfolio of retail and services businesses includes Kogan Retail, Kogan Marketplace, Kogan Mobile and Kogan Insurance. Kogan Insurance was established in 2017 and includes home, contents, landlord, car and travel insurance. Kogan Insurance is underwritten by The Hollard Insurance Company.

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Written by: Tamika Seeto | Last updated: January 24, 2019