These products offer great value, with a good score across both features and price.
7+
Great
These are competitive products, though they didn't quite get top scores.
5+
Standard
These products might offer less value or command a higher premium than others in the market.
0+
Basic
These products might only offer a basic set of features or aren't very competitive on price.
Westpac life insurance is not currently available via Finder. You can visit their website at www.westpac.com.au for more information or compare alternative options here.
Westpac life insurance: Our verdict
It comes with a loyalty benefit after you've held cover for 3 years.
It comes with a dedicated consultant – not all insurers do this.
It's guaranteed renewable, but so are many other life insurance policies we looked at.
Living Insurance: Pays out if you suffer from one of the covered medical events.
Income Protection: Provides a monthly benefit if you're unable to work due to sickness or injury.
Needlestick Benefit: Provides a lump sum if you acquire HIV, hepatitis B or hepatitis C whilst working as a medical professional.
Children's Benefit: This pays a lump sum if the insured child passes away or suffers from a specified medical event.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Applying for cover
Eligibility requirements for Westpac cover
The maximum age you can apply for a policy depends on the type of premium structure you opt for. These are as follows:
Stepped premium, if you're aged 15 to 69.
Level premium to age 65, if you're aged 15 to 59.
Level premium to age 55, if you're aged 15 to 49.
You also must be an Australian citizen, permanent resident of Australia or the holder of an eligible spouse/partner or work visa. You must not be working in an ineligible occupation either.
Westpac life insurance pros and cons
Still wondering if Westpac is right for you? Here are the main pros and cons summarised:
Wide range of cover types to cover your particular needs.
Cons
Premium rates can be changed by the insurer under certain circumstances.
How do I make a Westpac life insurance claim?
To make a Westpac life insurance claim, call 1300 551 431 Monday to Friday 8.00am to 6.30pm (Sydney time). It's important to contact them as soon as you can to get the process underway.
Compare life insurers in Australia
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.
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.
Or speak to a specialist to help you find the right policy
Frequently asked questions
To apply for Westpac life insurance, customers can get a quote and apply online, via TAL. Westpac's life insurance is underwritten by TAL Life Limited, and applications can be made through TAL's website or by calling TAL's customer service team. Customers can also apply for cover through a financial adviser. The application process typically involves providing personal and medical information and completing a health assessment.
Yes, TAL offers Total Permanent Disablement (TPD) cover as part of its life insurance policy. The TPD cover pays a lump sum if the insured person becomes totally and permanently disabled, and meets the policy definition of TPD. The definition of TPD and the level of cover offered may vary depending on the specific Westpac life insurance product chosen. More information on TAL's TPD cover can be found on their website and in the relevant product disclosure statement.
Premium payments for TAL life insurance policies can increase over time. However, TAL does offer the option of choosing a stepped premium, where the premium amount increases each year based on your age, or a level premium, where the premium amount stays the same for a set period.
If you can't make your premium payments for TAL life insurance, your policy will lapse and you will no longer be covered. If you experience financial hardship, you can contact TAL to discuss your options, including temporary suspension of your policy or adjustments to your premiums. If you are unable to meet your premium payments due to illness or injury, you may be eligible to make a claim under the policy's premium waiver benefit.
Interim accidental death cover is a temporary benefit that is automatically provided for 90 days while an application for full life insurance cover with Westpac is being assessed. This benefit provides a lump sum payment if the insured person dies as a result of an accident during the 90-day period. However, this cover does not apply if the insured person dies as a result of an illness or natural causes.
Important note. These FAQs were generated by ChatGPT. A real-life human at Finder – James Martin, editor for insurance – reviewed the responses before publication.
Gary Ross Hunter was an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
Gary Ross's expertise
Gary Ross has written 648 Finder guides across topics including:
Are you thinking of cancelling your life insurance policy? There are a few things that you need to be aware of before surrendering an important protection cover for you and your loved ones.
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