Subject to eligibility criteria
Life Cover Comparison
Lucky you're with AAMI
Learn the key differences between life insurance and income protection to help provide financial relief for your loved ones when needed most.
Explore which option suits your needs best for comprehensive coverage.
Special offer
$100 eGift card with cover^
Protect what really matters with an AAMI Life Insurance or Income Protection policy and get a $100 eGift card after 4 months of cover.
What’s the difference between Life Insurance & Income Protection?
Life Insurance and Income Protection both offer you and your loved ones additional financial support. Life Insurance will pay a lump sum in case of your death or diagnosis with a terminal illness, while Income Protection will provide you with regular payments should you be unable to work due to illness or injury.
Compare AAMI Life Products
There’s no one-size-fits-all policy when it comes to life insurance options. That’s why AAMI Life has different choices available for you and your family to consider. To help you work out the best option for you, here are some of the main features for the different types of cover:
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Life Insurance
Pays a lump sum benefit
Help look after your family
Up to $1.5m cover
Up to $10,000 advance payment
Upon death
5% family discount
The family discount doesn’t apply to the Optional Illness Covers.
How does Life Insurance work?
Life Insurance will pay a lump sum to your loved ones if you die or are diagnosed with a terminal illness, allowing them to keep up with payments, cover education, medical or utility costs and feel financially supported.
benefits
savings & rewards
Policy document downloads
Income Protection Insurance
Pays a monthly benefit
Helps protect your lifestyle
Up to 75% of income
75% of the average of the last 12 months’ pay at time of claim
Monthly benefit payments
From the end of the waiting period, after a successful claim has been made
Eligibility criteria applies
Must be aged 18-60 inclusive
What does Income Protection cover?
Income Protection provides you with regular payments that can help to cover part of your lost salary if you are unable to work due to illness or injury, leaving you to focus on your recovery.
benefits
savings & rewards
Policy document downloads
Waiting and no claim periods, payout limits, benefit periods and exclusions apply. Please see the PDS for more information.
Award-Winning Insurance
Recognised by Reader’s Digest as the Trusted Brand for Life Insurance in 2020, 2021, and 2022.
With AAMI Life, you're not just getting insurance – you are investing in peace of mind. Our policies are tailored with the aim of offering comprehensive coverage and support when you need it most. Explore our range of policies today and protect what matters most to you.
Life Insurance
What's right for you?
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It’s never something you want to think about, but will your loved ones be able to financially survive if you’re sick or injured, or upon your death?
Income Protection Insurance can help you get by if you find yourself unable to work due to illness or injury. Consider the benefits and get to know what you’re covered for.
Considering applying for life insurance? Buying life insurance with AAMI Life is easy. Find out the process and what you should consider. Click to get a quote today.
Why get Life Insurance with AAMI?
You can rest easy knowing that AAMI’s flexible, reliable Life Insurance was the winner of the Reader’s Digest Trusted Brand award for Life in 2019 and 2020.
AAMI Life’s Commitment to the Life Insurance Code of Practice
AAMI Life Insurance policies are issued by TAL, who 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.
^Offer available to customers who complete an application for a new AAMI Life Insurance or AAMI Income Protection Insurance policy between 3rd of December 2024 and 3rd of March 2025 (inclusive) and who are issued with a policy commencement date prior to 00:01AM (AEDT) 3rd of April 2025. Eligible Customers must hold the policy for 4 consecutive months and pay 4 months’ premiums in full. One eGift card per Policy Owner per eligible policy type. Eligibility criteria apply. View full terms and conditions.
Accidental Injury
Accidental injuries include fractures, dislocations, severe burns, and loss of limbs or sight. For a full list and conditions, please refer to the PDS.
Monthly payments
Under Income Protection, you may be able to receive up to $10,000 each month. Under Redundancy Cover, you may be able to receive up to $4,000 each month.
Income Protection
Regular expenses could mean rent or mortgage repayments, bills and credit card repayments, childcare and schools, groceries, petrol, or something else.
Lump Sum
The total lump sum you or your beneficiaries are entitled to depends on your cover amount.
Initial Advancement Benefit
The initial advancement benefit is usually provided within 24 hours of an approved claim, and can be used to help meet immediate costs.
Life Insurance
Life Insurance can help with debt payments and your loved ones’ expenses through a tax-free lump sum payout.
Up to $1.5m cover
Subject to eligibility criteria
Up to $10,000 advance payment
Upon death
Up to 75% of income
75% of the average of the last 12 months’ pay at time of claim
Monthly benefit payments
From the end of the waiting period, after a successful claim has been made
Eligibility criteria applies
Must be aged 18-60 inclusive
5% family discount
The family discount doesn’t apply to the Optional Illness Covers.