BT Life Insurance review
- Maximum Cover
- No limit
- Maximum Entry Age
- 69
- Terminal Illness Benefit
Our verdict
The BT life insurance business and loyalty benefit are some of the unique perks of this provider.
- It comes with a business benefit that lets you increase your cover without medical underwriting.
- It's policies are issued through an adviser so are tailored to you.
- It comes with a loyalty benefit after you've held a policy for 3 years.
- You may encounter a policy fee on top of the premium.
- It comes with a future insurability benefit which allows you to increase your cover without being medically underwritten – but some other insurers offer this benefit.
Details
Key Details
| Product Name | BT Life Insurance |
| Maximum Cover | No limit |
| Terminal Illness Benefit | |
| Funeral Benefit | $25,000 |
| Guaranteed Renewability | |
| Cooling-off (days) | 30 |
| Online Quote |
Eligibility
| Minimum Entry Age | 15 |
| Maximum Entry Age | 69 |
| Expiry Age | 99 |
| Medical Exam |
Add-ons
| TPD Option | |
| Child Benefit Option | |
| Trauma Option |
Read a more detailed review on:
Life Insurance
Key points of BT Life Insurance
- The lump sum is payable in the event of death or diagnosis of a terminal illness which is likely to result in death within the next 24 months.
- It comes with a loyalty benefit that provides an additional 5% at claim time once you've held the policy for more than three years.
- It comes with a future insurability benefit which allows you to increase the cover in the future without being medically underwritten.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Optional cover
Key points of BT optional cover
When you take out a Life insurance policy, you also have the option to add on the following:
- TPD Benefit: Pays out if you become totally and permanently disabled.
- Living Benefit: Pays out if you suffer a specified medical event such as cancer, stroke or heart attack.
- Business Cover Benefit: This allows you to increase your cover if a specified event occurs to help match the growth of your business without additional medical evidence.
- Needlestick Benefit: This is only available to certain medical professionals and can pay a lump sum if you are diagnosed with occupationally acquired HIV, hepatitis B or hepatitis C.
- Children's Benefit: This pays a lump sum if the insured child passes away or suffers from a medical event covered by BT Protection.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Applying for cover
Applying for BT cover
You must:
- Be an Australian citizen, permanent Australian resident, or the hold an eligible spouse/partner or work visa.
- Be between 15 and 69 years old to apply.
- Apply with an adviser over the phone.
BT life insurance pros and cons
Still wondering if BT is right for you? Here are the main pros and cons summarised:
Pros
- Option to get cover through super.
- Wide range of cover choices to suit your personal needs.
- Award winning cover (Life Insurance Company of the Year, 2016).
Cons
- Standard premium rates (for all policies) can be changed at anytime.
- Policy fee on top of the premium.
Does this insurer have any rewards programs included with its cover?
To reward you for your loyalty, after you have held your BT life insurance cover for three years from the commencement date of your policy, an extra 5% of your sum insured will be added to any Death Benefit, TPD Benefit, Living Benefit or Children's Benefit payable when you make a claim. This increase is provided at no extra charge.
Compare other direct life insurance policies below
Finder Score - Life Insurance
Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 20 products and gave each one a score between 1 and 10.
But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.
Read full Finder Score methodology
Why compare life insurance with Finder?
-
You pay the same price as buying directly from the life insurer.
-
We're not owned by an insurer (unlike other comparison sites).
-
We've done 100+ hours of policy research to help you understand what you're comparing.
Compare other products from BT
Your reviews
Gary Ross Finder
Editor, Insurance
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.
Zubair Hassan Finder
March 27, 2017
Hi Gms,
Thank you for your question.
You have contacted finder.com.au, a comparison and information service and not actually BT Life Insurance.
You will need to contact BT Life Insurance directly about this matter.
Cheers,
Zubair
Gms
March 19, 2017
What is the date for determining TPD for a mental illness claim? Is it the date the person left work, or the date after 12 months of medication and rehabilitation that it was proved by two doctors that the person now does qualify for TPD.