Westpac Life Insurance
Westpac life insurance policies
According to Westpac it offers the following types of life insurance policies:
- Term life insurance, which pays a lump sum if you die or are diagnosed with a terminal illness.
- Total and permanent disablement, which pays a lump sum if you become totally and permanently disabled.
- Living insurance, provides a lump sum if you suffer a specified medical condition such as cancer, stroke or a heart attack.
Canstar does not currently compare Westpac life insurance, but you can compare other life insurance providers on Canstar’s database:
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How much does Westpac life insurance cost?
Westpac says the cost of its life insurance policies depend on factors including your age, gender, the type of and amount of cover included, and whether or not you smoke. Westpac also takes your occupation, health and family medical history into account.
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Eligibility to apply for Westpac life insurance
According to Westpac, Australian citizens and Australian permanent residents between the ages of 15 – 69 (inclusive) may apply for a Westpac Term Life Insurance policy. Level premiums (where the policy cost does not increase as you get older) to age 65 are only available to applicants aged 15 to 59. Level premiums to age 55 are only available to applicants aged 15 to 49.
Upon application, you may also be asked some simple questions about your health, lifestyle and family medical history to determine what level of cover Westpac is willing to offer to you and how much it could cost you.
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How to apply for a Westpac 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 Westpac life insurance over the phone.
But first you might like to use the Canstar website to compare other life insurance policies before choosing a product that suits your needs: