NRMA Life Insurance
Compare NRMA life insurance
Considering NRMA 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-smoking, 30-year-old male in a professional-type occupation. To compare more direct life insurance products, please click here.
The inclusions mentioned represent a selection of what is covered at the time of writing. Additional terms and conditions may apply to different features. Additional fees may apply to the product. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement (PDS) to determine all the current options and inclusions for the product you are considering.
How do I buy NRMA life insurance?
You can buy NRMA life insurance directly from NRMA, either online or by phoning 132 825. You can get a quote online in as little as 90 seconds.
How much does NRMA 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 NRMA life insurance by comparing direct life insurance on our website, and compare these premiums to the average premiums for direct life insurance on our database.
How do I lodge a claim with NRMA life insurance?
You or your beneficiaries can claim with NRMA life insurance by contacting NRMA on 1300 996 143 (open Mon-Fri) or by downloading a claim form, completing it and posting it to NRMA. NRMA may request that after phoning, you fill in the insurance claim form and return it together with medical certificates or other documentation it may ask for.
If your insurance claim is approved, NRMA 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.
NRMA Life Insurance FAQs
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.
That depends on whether you choose stepped premiums (which increase as you age) or level premiums (which do not have age-related increases).
By default, NRMA life insurance policies have stepped premiums that increase each year up to the expiry age of your policy. You can choose to freeze your premiums instead – but note that this will mean your level of cover is lowered each year to match your premium.
NRMA also reserves the right to increase premiums for certain occupation categories or age brackets, with at least 30 days’ notice provided. Level premiums may still increase over time due to rate increases, Consumer Price Index (CPI) increases and policy fee increases.
For more information about stepped premiums versus level premiums, read this article.
At the time of writing, medical tests may not always be required to apply for NRMA life insurance. However, depending on your sum insured, age and health conditions, a medical examination may be required.
With NRMA life insurance, you have the option to increase or decrease your level of cover as your life stages change, so that your policy continues to suit your needs. Once you have life insurance cover, you can adjust the level of that cover any time before you turn 66 years old.
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 NRMA on 132 825 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. You should also note that NRMA does not offer TPD cover.
Source: NRMA Insurance
It depends on the condition. When you apply, NRMA will ask you some questions about any pre-existing conditions to find out whether or not you can be covered for these conditions. Note that a waiting period may apply before you can make a claim regarding a pre-existing condition.
You have a legal duty to disclose (tell NRMA about) any pre-existing medical conditions you have had in the past, as well as current medications and health issues. Find out more about pre-existing conditions for life insurance here.
NRMA Insurance was established in 1925 by the National Roads and Motorists’ Association, in order to provide car insurance to members in New South Wales and the Australian Capital Territory. In 1995, it added Queensland to the mix as well.
NRMA is the trusted insurer for millions of Australians, and it employs 400 people in Queensland alone. It is part of the Insurance Australia Group (IAG), the largest general insurers in Australia and New Zealand.
NRMA sponsors the free online service My Lawyer, which lets you create a simple will and enduring power of attorney in just a few minutes.
Since 2003, NRMA has supported the community by distributing grants to 1,650 different Australian community organisations to make communities safer, stronger and more confident. NRMA also sponsors everyone’s favourite men in red – the Brisbane Broncos – and is a major corporate supporter of the NSW State Emergency Service (SES).
NRMA works to protect the environment in many ways. Since 2006, it has reduced its carbon footprint by over 30%, and since 2009 it has set an annual target of reducing carbon dioxide equivalent emissions by 5% per year.
NRMA also encourages customers towards environmentally-friendly options. At the time of writing, NRMA continues to offer a 10% discount on comprehensive car insurance or Comprehensive Car Insurance for customers with a fuel efficient car recognised by NRMA Insurance.
The table below shows some of our best life insurance options available for a non-smoking female aged 30-39 years old, who is working in a white collar occupation group such as a clerk or office administrator. This table is sorted by Star Rating (highest to lowest).
Compare the rest of your options when it comes to term life insurance using our website: