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Should I consider life insurance?

Life insurance can help to provide for you or your family if an illness or injury puts you out of action for a while, or if you were to pass away, by helping to fill the financial gap that your family would face without your income.


Life insurance products can help you:

Pay the mortgage or rent

Pay for your children’s education

Cover your day to day bills

Cover out of pocket medical expenses

See how different products could help you and your family:

Why Life Insurance is important

We’d all want our families to continue enjoying a good quality of life if we weren’t there. But how would they do that without your income, without your help around the house, and without your help in raising the kids?

While money can’t replace you, it can certainly help ease your family’s suffering and allow them to live the kind of life you would have wanted for them. That’s where life insurance can help.

How Bupa Life Insurance works

When you take out life insurance, the cover amount you select is important. Bupa Life Insurance provides cover amounts of between $50,000 and $1 million. If you were to pass away, or be diagnosed with a terminal illness while your policy is still in place, your family can make a claim on your policy. Your claim will be assessed in accordance with the policy terms. Where your claim is approved, your family will receive the cover amount as a lump sum payout. When you apply, you can choose who should receive this benefit, and you can choose up to 2 people.

It’s important to get the cover amount right. When deciding on a cover amount, think about what you’d like the money to be used for, as well as your personal circumstances. For example, how much would your family need to pay off the mortgage, to pay for the remainder of your kids’ schooling, or to hire extra help around the house?

When you apply you’ll need to answer a series of questions about the state of your health - this process is called underwriting. If you have no major health issues you’ll normally be approved for cover immediately. However, if you do have health issues you might not be able to get cover through Bupa Life Insurance. If that happens you may still be able to get cover if you were to pass away in an accident, through Bupa Accidental Death Insurance.

It’s important that you answer all these questions truthfully, otherwise any claim you may make in the future might be reduced or denied altogether. You don’t need to update us on changes to your health after you’ve taken out the policy, except if you want to increase your cover amount.

Why Serious Illness Insurance is important

We all know someone who’s had cancer or a heart attack – and we all know the toll it takes on them and their families. We hope it never happens to you, but if it does it’s always good to be prepared.

Have you thought about how you’d maintain your financial security if you were recovering from a serious illness?

Out of pocket medical expenses, mortgage repayments or rent, and household expenses are just some of the commitments you may need to cover while you’re off work and recovering from a serious illness.

Serious illness insurance can help you look after these commitments, allowing you to focus on your recovery. Once you’ve recovered , it can also help you adapt to the often life-changing impacts of a serious illness – for example making changes to your home if you have reduced mobility, or reducing the number of hours you work so you can focus on other things in life.

How Bupa Serious Illness Insurance works

When you take out Bupa Serious Illness Insurance you need to select one of three cover amounts - $50,000 (Standard), $100,000 (Plus) or $200,000 (Premier). If you’re diagnosed with a specified illness, and your claim is approved, 100% of the cover amount is paid as a lump sum payment.

Illnesses covered^ include Cancer, Benign Brain Tumour, Heart Attack, Diabetes, Stroke and Coronary Artery Bypass.

When deciding on a cover amount, think about what you’d want to use the money for and your personal circumstances. You may wish to use it to repay loans, fund additional healthcare expenses, or even enjoy a holiday as you recover.

When you apply you’ll need to answer a series of questions about your health - this process is called underwriting. If you have no major health issues you’ll normally be approved for cover immediately.

However, if you do have health issues you might not be able to get cover through Bupa Serious Illness Insurance..

It’s important that you answer all these questions truthfully, otherwise any claim you may make in the future might be reduced or denied altogether. You don’t need to update us on changes to your health after you’ve taken out the policy, unless you want to increase your cover amount.

^Subject to the definitions set out in the terms and conditions.

Why Accidental Death Insurance is important

Accidents happen everyday. We can usually laugh off the small ones and carry on, but nothing can ever prepare us for the shock of hearing that a loved one has passed away in a major accident.

If you passed away as a result of an accident, not only would your family have to deal with the emotional shock, they’ll also have to deal with the financial shock. This would be even worse if you are the main income earner. That could put your family home at risk, along with the quality of life that you’ve worked so hard to provide for them.

While money can’t replace you, it may give your family the financial security they need to maintain their current lifestyle. That’s where accidental death insurance can help.

How Bupa Accidental Death Insurance Works

When you take out accidental death insurance, the cover amount you select is important. Bupa Accidental Death Insurance offers cover amounts of between $50,000 and $1 million. If you were to pass away as a result of an accident while your policy is in place, your family can make a claim on your policy. Where your claim is approved, your family will receive the cover amount as a lump sum payout. You choose who receives this payment, and you can choose up to 2 beneficiaries.

It’s important to get the cover amount right. When deciding on a cover amount, think about what you’d like the money to be used for as well as your personal circumstances. For example how much would you need to pay off the mortgage, to pay for the remainder of your kids’ schooling, or to hire extra help around the house?

Accidental death insurance won’t provide cover if you’re diagnosed with a terminal illness, or if you pass away from illness or natural causes. These events are covered immediately under Bupa Life Insurance.

Bupa Accidental Death Insurance is a “guaranteed acceptance” product. That means if you’re a permanent Australian resident and are between the ages of 18 and 64 when you apply, your guaranteed to be covered – whatever the state of your health. In fact you won’t be asked any questions about your health. That means you can still get Bupa Accidental Death Insurance even if we can’t offer you Bupa Life Insurance due to health reasons, however accidents to pre-existing conditions won’t be covered.