LUCKY YOU’RE WITH AAMI
Life Insurance
Cover for your life, so your loved ones are taken care of.
Save up to 10% on premiums every year
Take out a new AAMI Life Insurance policy and save 5% for the life of your policy + existing customers save an extra 5%^.
T&Cs apply.
Get a quote
What is Life Insurance?
Life Insurance provides financial protection for your loved ones in case you pass away and can no longer support them. Those closest to you will receive a lump sum in the event of your death or terminal illness diagnosis. They will be able to pay their bills, continue their education and maintain their lifestyle.
tick
primary
Cover up to $1.5m
The payout has no restrictions on how it is spent. A claim can be made for death or a terminal illness diagnosis with less than 12 months to live.
What's covered
tick
primary
You, until your 99th birthday
If you’re an Australian resident, you can apply for AAMI Life Insurance between the ages of 18-65 and stay covered until your policy anniversary after your 99th birthday.
What's covered
tick
primary
Advanced payout for death claims, up to $10,000
After an approved claim, get an advanced payout to help your family with immediate legal expenses such as probate.
What's covered
tick
primary
Inflation Protection included
Your benefit will increase automatically to ensure that it keeps up with the rising costs of living. Your premiums will also be adjusted to reflect the increase.
What's covered
tick
primary
Extra cover for life events
Increase your cover after a significant life changing event without needing to complete a full application. Increases are the lesser of $100,000 or 20% of your current cover when you apply. Exclusions apply. More about extra cover for life events.
What's covered
cross
warning
Intentional self-inflicted acts
An AAMI Life Insurance benefit isn’t payable in the event of intentional self-injury or suicide within 13 months of the cover’s start date. More about intentional self-inflicted acts
What's not covered
cross
warning
Death in a travel-banned country
If you die in a country where the Department of Foreign Affairs and Trade has issued a ‘Do not travel’ warning.
What's not covered
cross
warning
Benefit payments for a special term listed on your policy
We will not pay any benefits where we have agreed with you a special term in respect of your cover that specifically excludes the event or condition leading to the claim. Any such special term will be agreed with you before your policy is issued and will appear in your policy schedule.
What's not covered
tick
primary
Cooling off period included
We'll refund any premiums you've paid if you cancel your policy within 30 days of the commencement date and haven’t made a claim.
What's covered
center
This information is a summary only. For more info on what is and isn’t covered, including terms, conditions and exclusions, read the Product Disclosure Statement (PDS)
center
narrow
What's Optional
Optional Severity Based Illness Covers
All Australian residents aged 18 to 55 are eligible to apply for these Optional Illness Covers.
There are two types of optional cover you can add to your policy:
tick
correct
neutral
Major illness cover
Covers specified severe critical illnesses and injuries such as Heart Attack, Cancer, Stroke, Major Organ Transplant and Failure.
Cancer cover
Covers specified life-threatening Cancers.
center
narrow
The optional Severity Based Illness Cover:
- Allows you to access part of your Life Insurance cover forspecified severe critical illnesses or injuries.
- May be used to assist with medical and out-of-pocket expenses incurred as a result of the illness or injury.
- You can select one or both types of cover.
- Combined maximum cover up to $250,000 between both types of cover.
- Cannot be higher than your Life Insurance cover amount.
- 90-day qualifying period applies to some conditions.
A full list of insured conditions including their severity criteria and exclusions are found in the Product Disclosure Statement (PDS).
tick
correct
Other AAMI Life Insurance benefits
save
5% family discount on the youngest policyholder’s multi-life policy
If you take out a multi-life policy for two adults, you’ll get 5% off the youngest life policy. This doesn’t apply to Optional Severity Based Illness Covers.
unlock
12 months cover for the price of 11
By choosing to pay annually instead of fortnightly or monthly, you get the 12th month free.
person
Existing AAMI Customer Discount
If you’ve already got an existing AAMI policy, like home or car insurance, then you get a 5% discount.
neutral
calculator
Estimate your level of cover
This calculator can help you work out what level of Life Insurance cover you may need.
Try our Life Insurance Calculator
Looking for something else?
Income Protection Insurance
Cover for if you become sick or injured and can’t work, to help pay your expenses.
Explore Income Protection Insurance
Health Insurance
Cover to help with the cost of medical expenses.
Explore Health Insurance
Frequently asked questions
Life Insurance
block
true
suncorp:AAMI/products/life-income/life-insurance-quotes
Learn more about Life Insurance
AAMI Answers
At what age should I take out life insurance?
As a young Australian, you might think you don’t need to even think about life insurance. You may be fit and healthy, and nothing could possibly go wrong. Right?
Read more
AAMI Answers
How much life insurance do I need?
Knowing how much life insurance you need doesn’t have to be hard. Follow these few tips to get started on working your life insurance out.
Read more
AAMI Answers
What to look for when comparing life insurance policies
Just like us, not all life insurance policies are the same, so it’s important to carefully compare what's out there to make sure it’s the right option for you and your family.
Read more
AAMI ANSWERS
Do I need life insurance if I'm young?
She’ll be right is common in the Aussie vernacular. Perhaps it’s why many young people believe they don’t need life insurance. But that couldn’t be further from the truth.
Read more
neutral
AAMI Life’s Commitment to the Life Insurance Code of Practice
AAMI Life Insurance policies are issued by TAL who has 150 years’ experience in life insurance, and they played a key role in creating the Life Insurance Code of Practice. AAMI Life is committed to delivering the best possible customer service standards. AAMI Life will continue to look for ways to raise the standards of customer service now and over the years to come. Read more
At TAL, we are committed to supporting our customers who may be experiencing vulnerability or have unique needs. Contact us or see how we can help if you are experiencing financial hardship or domestic and family violence.
Incentive Disclaimer
^The ‘up to 10% discount’ offer is only available to customers who take out a quote and new AAMI Income Protection or Life Insurance policy between 26 February and 26 August 2026. All eligible customers will receive a 5% discount automatically applied to their AAMI Income Protection or Life Insurance premium for the life of the policy. Where an eligible customer is also an existing AAMI customer who holds any other AAMI branded insurance policy/ies such as home or car insurance, the 5% discount on premiums for Income Protection or Life Insurance will be automatically applied in addition to the standard 5% Existing Customer discount offered on Income Protection or Life Insurance. The two discounts combined amount to a total of 10% off Income Protection or Life Insurance premiums for the life of the policy.