Why choose RACQ Life Insurance?
Continue to look after your loved ones when you can’t be there with life insurance. RACQ's Life Insurance is designed to protect your family from financial hardship if the unexpected occurs. With a payment from $100,000 to $1 million in the event of your Death or Terminal Illness, this money could be used to help your family any way you like, such as to:
- reduce or eliminate your mortgage
- pay ongoing bills and living expenses
- provide for your children’s education.
Explore the features of RACQ Income Protection or get an income protection quote online!
RACQ Income Protection Insurance Benefits and Options Table
Features & Benefits
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Your Life Insurance cover at a glance:
| Comprehensive life insurance cover |
Cover from $100,000 up to $1 million |
| Death and Terminal Illness |
Cover for both Death and Terminal Illness |
| $15,000 advance payment |
An up-front payment if you die to assist your family with immediate expenses |
| Bonus cover on selected benefits |
This increases the amount that you’re insured for by 1% a year, for the first 10 years of your cover – at no extra cost |
| Immediate cover |
Once your application is accepted you are covered |
| Global coverage |
You are covered worldwide 24/7 when you travel |
| RACQ member rates |
RACQ has negotiated rates for our members plus an extra 5% off for joint policies and a 10% discount when you buy online |
| No medicals or blood tests |
Apply online or by phone with no medicals or blood tests |
| AIA Vitality |
Access to a personalised, science-backed health and wellbeing program plus get 10% off your Life Insurance premium based on your AIA Vitality Status at your next Policy Anniversary* |
The above features are a summary only and limits apply. Please refer to our Product Disclosure Statements (PDS) for full details, exclusions, and terms and conditions.
Options available for an additional cost:
| Trauma cover |
Apply for up to $250,000 Trauma cover for events such as a Heart Attack or Cancer |
| Total and Permanent Disability |
Apply for up to $750,000 Total and Permanent Disability cover in case an illness or accident means you can never work again
|
| Children's Trauma cover |
Apply for up to $50,000 Children's Trauma cover to support your family if your insured child suffers an event such as Cancer or Bacterial Meningitis |
The above features are a summary only and limits apply. Please refer to our Product Disclosure Statements (PDS) for full details, exclusions, and terms and conditions.
These discounts may be available to you:
| Joint policy discount |
A 5% discount for joint policies for you and your partner |
The above features are a summary only and limits apply. Please refer to our Product Disclosure Statements for full details, exclusions, and terms and conditions.
Get a quote Read the PDS FAQ's
Life Insurance and Income Protection FAQs
Is there an exclusion for pandemics in my Life or Income Insurance policy?
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There are no pandemic exclusions on your policy. If you need to make a claim related to a pandemic as with any other claim, you will need to meet the eligibility requirements for your type of cover.
What impact does COVID-19 have on my Life and/or Income Insurance policy?
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RACQ Life and Income Protection customers are covered through the pandemic. COVID-19 has no impact on your existing Life and/or Income Insurance cover with us.
I need to make an Income Insurance claim due to COVID-19
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To make a claim, your medical practitioner will need to have advised you that you cannot work due to a sickness or injury. Please check your waiting period and the terms and conditions of your Product Disclosure Statement (PDS) for more information.
When you can’t claim on your Income Insurance policy due to COVID-19
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If you cannot work due to self-isolation following a request or guidance from your employer, or your work has shut down/closed but your medical practitioner has not advised that you cannot work due to a sickness or injury, you will not be able to make a claim on your policy.
Do I need a medical check-up or blood test to be accepted for life insurance?
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You don't need to have any medical examinations or blood tests to take out a Life and Income Protection Insurance policy with RACQ. However you may be asked some questions about your health and medical history.
How much life insurance cover do I need?
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Finding the right level of life insurance cover is different for everyone and depends on your own individual circumstances. Things to consider when deciding how much cover you need may include; what stage of life you are at, whether you have other people you are looking after, if you have any debt and the ongoing needs of your family and loved ones.
Contact our team for further information.
What factors may affect my life insurance premium?
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Depending on the product you choose, your premium may be determined by your type and level of cover, age, gender, smoking status, the number of children covered and any discounts you may receive.
You may also be required to take out a level of cover sufficient to meet the minimum premium. The premium amount also includes government charges such as insurance duty and taxes.
Discover the benefits of Life Insurance at your life stage
AIA Vitality - Benefits and discounts
Up to 50% cashback on eligible flights
Up to 50% off gym memberships
Up to $500 in shopping vouchers
Learn more about AIA Vitality benefits and discounts
Compare RACQ Insurance Products
Disclaimer
**The 25% online discount offer is applied to the first year premium of all new RACQ Life Insurance and RACQ Income Protection policies purchased online between 27 April 2021 and 22 June 2021. Each subsequent year the policy is held after the first year, the discount will be reduced to an ongoing 10% discount.
RACQ’s Life and Income Protection Insurance suite of products described on this website is distributed by RACQ Operations Pty Ltd ABN 80 009 663 414, Authorised Representative Number 234978 (RACQO), an authorised representative of AIA Financial Services Limited ABN 68 008 540 252, AFSL 231109 (AIAFS) and is issued by AIA Australia Limited ABN 79 004 837 861, AFSL 230043 (AIAA). RACQO is a distributor only; it does not sell, issue or guarantee these products. AIAFS and other authorised representatives of AIAFS are also involved in distributing these products. Descriptions of product benefits and features are a summary only. You should consider factors like your objectives, financial situation and needs and read the relevant Product Disclosure Statement (PDS) available on this website before deciding to acquire or continuing to hold any of these products. The information on this website is general and does not take such factors into account so you should consider its appropriateness in the context of such factors. Cover is subject to terms, conditions, limitations and exclusions.
AIA Australia has adopted the FSC Life Insurance Code of Practice, which contains minimum standards of service that customers can expect from insurers. The code can be found at fsc.org.au.
AIA Vitality partners, benefits and rewards are subject to change at any time. For the most up-to-date information and to view the AIA Vitality Terms and Conditions see aiavitality.com.au. Partner terms and conditions may also apply.
*Reach AIA Vitality Silver status or above and you’ll get up to 10% off your RACQ Life Insurance and 5% off your RACQ Income Protection Insurance premium at your next Policy Anniversary Date. Maintain AIA Vitality Silver status or above to keep the discount each year.
The 10% online discount applies to annual insurance premiums for new RACQ Life Insurance and RACQ Income Protection Insurance policies purchased online for the life of the policy.
Life and Health Discount (LHD)
- To qualify for the 5% Life and Health Discount (the LHD), you must hold both an eligible health insurance policy and an eligible RACQ Life Insurance policy. Both the eligible health insurance and Life Insurance policies must insure the same person (same name and date of birth must appear on both policies) and have a common mailing address listed.
- Eligible health insurance policy:
- Eligible RACQ Life insurance policies are:
- RACQ Life Protect
- RACQ Income Protect
- For Joint Policies, at least one of the insured lives must hold an eligible health insurance policy in addition to an eligible RACQ Life Insurance policy and the LHD will apply to both life insured's premiums under the RACQ Life Insurance Policy.
- Where you have an existing eligible RACQ Life Insurance policy the LHD will be applied at your next payment instalment for fortnightly or monthly premium frequencies. If you have an annual premium frequency the LHD will be applied with immediate effect.
- The LHD will continue to be applied to your RACQ Life Insurance premiums, provided you still qualify by holding an eligible health insurance policy and an eligible RACQ life insurance policy.
- If you no longer hold an eligible health insurance policy, the LHD will be removed at your next Policy Anniversary Date.
- If the eligible health insurance policy is not in place within or at 30 days of policy inception, the LHD will be removed effective from:
- next payment instalment for fortnightly and monthly premium frequencies; or
- policy inception for annual premium frequency.
- The LHD is generally applied to the total premium. If you are eligible for other discounts (in addition to the LHD), then generally we apply each additional discount to the already discounted premium.
- AIA Australia Limited reserves the right to vary or discontinue the LHD at any time and without notice.
© 2020, AIA Health Insurance Pty Ltd. ABN 32 611 323 034. PO Box 7302, Melbourne VIC 3004. All rights reserved. AIA Health Insurance with AIA Vitality is issued by AIA Health Insurance Pty Ltd, a registered private health insurer governed by the Private Health Insurance Act 2007, Private Health Insurance Rules 2007 and our Fund Rules. AIA Vitality is issued by AIA Australia Limited ABN 79 004 837 861.