Life Insurance
Your family is the most important thing in your life; help secure their financial future should you suddenly pass away.
Backed by AIA Australia, one of the country's leading life insurance specialists, Citibank's life insurance can help protect your loved ones from whatever the future may hold.
Get a Prime Life Cover quote and apply online today and you'll be covered immediately once your application is accepted.
Prime Life Cover benefits:
- Choose your level of cover - cover from $100,000 up to $1,000,000 to help make things easier for your family.
- Simple application process - Apply online or over the phone, with no medical or blood tests required.
- Premiums start at $3.15 a week*.
- Get cover immediately - Once your application is accepted you'll be covered immediately.
- Extra cover on top of your super - Even if you have life insurance with your superannuation it may be lower than you expect and may not be enough to cover your family's needs.
- Cover that grows - Your cover can increase each year to keep up with inflation.
- Payment when you need it - Receive a $15,000 advance payment from the Life Benefit to help with costs such as funeral expenses.
- Benefits where they're needed - Be comfortable knowing your money goes directly to your loved ones.
- Optional Total and Permanent (TPD) Cover - Additional benefit for further protection if you become totally and permanently disabled due to sickness or injury.
- Optional Trauma Cover - Additional financial protection to help you focus on your recovery if you were to suffer a trauma event such as cancer, heart attack or paralysis.
- Optional Child Trauma Cover - provides a maximum payout up to $15,000 if your child suffers a defined trauma event such as cancer, encephalitis or blindness.
- Choice of payment frequency - You can pay your premiums fortnightly, monthly or annually.
*Premiums vary depending on factors including your age, gender, medical loadings and smoking status. For example, the premium for a Male non-smoker aged 30 with a Life Benefit of $150,000 is $3.15 a week.
Customise your Prime Life Cover policy.
Prime Life Cover provides the flexibility to customise your policy to suit your needs and your budget.
| Features | The benefit to you: |
| Life Benefit | Choose your level of cover - from $100,000 through to $1,000,000. The maximum amount you can apply for is dependent on your age when we first covered you. |
| Optional Total and Permanent Disability (TPD) cover | For an additional premium, you can apply for TPD cover that pays a lump sum benefit of up to $750,000 to help support your family and lifestyle needs if you become Totally and Permanently Disabled. The minimum amount of TPD cover you can apply for is $100,000 and the maximum amount of cover you can apply for is $750,000, depending on your age when we first covered you. Your TPD cover cannot exceed your Life cover Sum Insured. Refer to the Prime Life Cover Product Disclosure Statement and Policy document for more details. |
| Optional Trauma Cover | For an additional premium, you can apply for Trauma cover that will help protect your financial health by providing a lump sum benefit which allows you to focus on your recovery, not on paying your bills. The Trauma benefit is payable if you suffer one of the Trauma Events. The maximum amount of Trauma cover you can apply for is 50% of your Life Cover Sum Insured, up to a maximum of $250,000. Refer to the Prime Life Cover Product Disclosure Statement and Policy document for more details. |
| Optional Children's Trauma Cover | For an additional premium, you can apply for Children's Trauma which provides a lump sum benefit up to $50,000 if your insured child suffers one of the covered Children's Trauma Events. This cover is designed to allow you to focus on your child and their recovery, rather than on paying medical bills or day to day living expenses. Refer to the Prime Life Cover Product Disclosure Statement and Policy document for more details. |
How much is my premium?
Prime Life Cover premiums vary depending on factors including your age, gender, health, lifestyle, medical loadings, occupations and smoking status. Here are some examples of how much it may cost:
- 30 year old male, non-smoker with $500,000 of Life Benefit cover only is $68.33 per month
- 45 year old female, non-smoker with $300,000 of Life Benefit cover only is $51.75 per month.
To make a claim under your Prime Life Cover, simply:
- Call 1800 042 349
- Email: claims@citibankinsurance.com.au
Claim requirements
We will send you or your family the claim forms to fill in and return with supporting documentation for the event being claimed. With a claim for terminal illness, Total and Permanent Disability or the Trauma Benefit your condition must be diagnosed and certified by a medical practitioner approved by the insurer. In the event of your death, documentation will need to include an Australian death certificate stating the cause of death, or other evidence of the cause of death as required by the insurer. If death was caused by an accident, the full Coroner's report will be required. It is also possible that medical reports and Medicare records may be required to properly assess the claim.
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Check these frequently asked questions for valuable information about Prime Life Cover.
Life insurance can help secure your family's financial future, allowing them to maintain their lifestyle if the main income earner were to pass away. It provides financial assistance to help your family pay for household expenses, such as the mortgage, everyday bills and education costs.
Prime Life Cover is issued by AIA Australia Limited, ABN 79 004 837 861, a registered life insurance company holding Australian Financial Services License Number 230043. The distributor of Prime Life Cover is Citigroup Pty Limited ABN 88 004 325 080 AFSL No 238098 Australian credit licence 238098 ('Citibank'). Prime Life Cover is not a product of, nor is it guaranteed by Citibank.
Most people take out life insurance at key stages in their lives such as getting married, having children or starting a new job, business or partnership. The right amount of cover should also reflect yours and your family's immediate and ongoing financial needs to fund things such as mortgage payments, education, rent, food, health insurance, car insurance, petrol. Prime Life Cover lets you choose your level of cover depending on your age and circumstances. Whatever level you choose, your amount of cover is guaranteed to never decrease, unless you request for your cover to be reduced, which you can do at any time.
No blood tests or medicals are required; however we do ask various health, lifestyle and occupation questions.
With the optional Trauma cover, the defined trauma conditions are subject to a 90-day qualifying period after your policy commences, is reinstated or cover is increased (but only in respect of the increased portion of the cover).
Qualifying period means that the symptoms leading up to the condition did not first occur, were not first diagnosed or were not first reasonably apparent during the first 90 days of cover.
Yes, there are no long-term contracts. If you cancel within the 30 day cooling off period, and have made no claims for this period, you will receive a full refund of any premiums paid. If you cancel outside the 30-day cooling off period no premiums will be refunded if you have elected to pay fortnightly or monthly. However, we will pay a pro rata refund where premiums are paid annually and you cancel the policy before the next annual payment is due. To cancel, you can call us on 1800 042 349. Your policy does not have any savings, investment, cash or surrender value.
Exclusions do apply and the full list is contained within the PDS.
This is a summary of the important information you should know about Prime Life Cover insurance. It is designed to help you decide whether or not to purchase or keep Prime Life Cover insurance.
No, generally premiums for this type of policy are not tax deductible.
The premium is calculated based on the level of cover you choose, your age, gender, smoker status and the answers you have given to occupation, health and lifestyle questions. In general terms, the healthier you are, the lower your premiums will be.
You can pay annually, monthly or fortnightly, with payments charged automatically to your credit card or debited from your bank account.
The latest technologies are used to keep your details confidential and secure. When you request an online quote, look for the small closed padlock (
) displayed by your browser in the status bar at the bottom of the screen. This tells you the connection between your computer and the servers is secure.
- View the Product Disclosure Statement for Prime Life Cover (Adobe PDF, 171 KB)
- View the Insurance Financial Services Guide (Adobe PDF,56 KB)
Citibank Prime Life Cover is distributed by Citigroup Pty Limited ABN 88 004 325 080 AFSL No 238098 Australian credit licence 238098 ('Citibank'). The issuer of this product is AIA Australia Limited, ABN 79 004 837 861, AFSL 230043. This product is not a deposit or liability of Citibank. The information provided is of a general nature and does not take into account your personal needs and financial circumstances. You should consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. You should read the Product Disclosure Statement (PDS) and consider whether this product is right for you. Terms, conditions and exclusions apply as set out in the policy wording.