Macquarie Life Insurance

Macquarie Group Limited is one of the largest insurance companies in the world. Whilst the headquarters of the Macquarie Group is in Sydney, you are able to purchase Macquarie Life Insurance just about anywhere in the world.

Compared to other insurance companies, Macquarie Life Insurance is actually fairly new. Whilst most companies were formed in the later stages of the 19th Century, Macquarie Life Insurance has existed only since 1969 when there were only three employees. The company rapidly expanded however due to the fact that they offer some of the best insurance policies at some of the most competitive prices around.

In their last accounts, the Macquarie Group as a whole generated $8.1 billion AUD. This is a significant amount of cash with the vast majority actually coming from the life insurance arm. If you opt for a policy through Macquarie you can be sure that it is in the safest possible hands.

Macquarie Life Insurance

At this stage it is probably worth noting that all of the insurance policies available through Macquarie Life Insurance are probably best applied for through a company that uses Macquarie Life to underwrite their policies. It is remarkably difficult to apply for Macquarie Life Insurance directly with the company placing a huge focus on only catering to underwriters. That being said; the benefits of applying for Macquarie Life Insurance are much the same as with any other insurance policy out there.

Macquarie Life Insurance Policies have been designed to provide pay-outs upon the death of the policy holder. This will allow the family of the deceased to get on with their day to day life without monetary worries. The policy is very much standard in the world of life insurance.

The main life insurance policy offered by Macquarie is known as ‘Active Cover’. This basically means that you will receive coverage regardless of whether you have passed on or not. We will discuss this under the benefits section.

Macquarie Life Cover Benefits

  • The insurance policies offered by Macquarie are actually fairly flexible. This means that you will be able to choose the exact coverage amount that you want. Obviously the more coverage you have, the higher the premiums are going to be. By all accounts Macquarie offers some of the most competitive pricing in the industry however.
  • The insurance policy from Macquarie is not designed just to make a pay-out upon the death of the policy holder. It will also pay out in the event of serious health events which may have a detrimental impact on the life of a person. This can include terminal illness, heart attack, or even psychiatric conditions. You would need to get in touch with Macquarie to find out what is regarded as a health event. The great thing is that your policy will not just stop existing at this point. It will continue with a reduced pay-out and you may even be able to make claims throughout your life.
  • Child Cover
  • Income Cover can be added to most Macquarie Life Coverage policies.

Macquarie Life Cover Eligibility

  • You are able to apply from the age of 15-65 as part of the stepped premium. The coverage can last until death or 99 for coverage against major health events.
  • 15 to 60 for premium policy.
  • 2 to 14 if you wish to add child coverage to your Macquarie Life Insurance Policy.

 Macquarie Income Protection

The Macquarie Income Protection Insurance is known as ‘Disability Income Insurance’. It is much the same as policies offered by other providers insofar as the fact that you will receive a monthly benefit should you be unable to work.

Macquarie currently offers just one income protection plan. It is however worth noting that the plan is incredibly flexibility and you can really choose the type of coverage you want.

Macquarie Income Protection Benefits

  • Flexible Plans. This means that you are able to able to choose the policy that suits you the most. This should mean that you never pay more for the policy than you actually have to.
  • Waiting periods are fairly generous. Minimum waiting period is thirty days which is far superior to other insurance providers out there.
  • Minimum insurance coverage of just $1,250 a month. Maximum is $30,000 a month. This means that just about everybody will have their income covered.
  • Various other policy additions you can have. This includes home care benefit, bed confinement benefit, and a whole host more.

Macquarie Income Protection Eligibility

  • Earning a minimum of $1,250 per month and a maximum of $30,000 per month.
  • Entry ages 17 to 64.
  • Expires age 65 unless you have the ‘to age 70’ benefit period.

Macquarie TPD Insurance

Macquarie Total and Permanent Disablement Insurance, or TPD insurance for short, has been designed to make a payout should somebody suffer from complete disablement meaning that they will be unable to continue to work. This will be a single lump sum payment. It is much the same as many other policies available from other insurance providers.

Macquarie TPD Insurance Benefits

There are a number of benefits related to Macquarie TPD Insurance. These benefits include:

  • Policy is remarkably flexible. You are able to purchase additional coverage to really make the policy your own. You also have full control over the type of policy and the amount of coverage you have.
  • The minimum insured amount is $50,000 with a maximum insured amount of $5 million. There are a few stipulations in place to receive the full insured amount of $5 million but by all accounts Macquarie are going to be fairly quick to pay out for you.
  • Payouts are quick with a minimal waiting period. This means you get the money that you need quickly and without hassle. This helps to reduce your stress levels.

Macquarie TPD Insurance Eligibility

As mentioned previously; Macquarie TPD Insurance is fairly flexible. This means that there are actually very few stipulations in place for application for the policy.

  • Entry age is 15 all the way through to 60. This can change up to 65 if you have the modified policy.
  • Expiry age is 99 but the definition of the policy will change at retirement age and this is something you would need to work through with your insurance provider.

Macquarie Funeral Insurance

Macquarie does not currently offer funeral insurance policies. You may be able to achieve limited coverage through the life insurance policies offered by the company.

Macquarie Funeral Insurance Benefits

Macquarie does not currently offer funeral insurance policies. You may be able to achieve limited coverage through the life insurance policies offered by the company.

Macquarie Funeral Insurance Eligibility

Macquarie does not currently offer funeral insurance policies. You may be able to achieve limited coverage through the life insurance policies offered by the company.

Macquarie FAQ

Can You Apply for Macquarie Life Insurance Policies directly?

You can to some extent. It is however worth noting that it is probably best to apply directly through a broker for insurance. This is because Macquarie devote a lot of their time towards ensuring that only brokers get the best possible deals. This means that you will be able to save a lot of money.

Do I need to undergo a Medical for Life Insurance Policies Through Macquarie?

It is unlikely that you will need to undergo a medical if you are going to apply for a life insurance policy through Macquarie. Most of the checking will be done via a very simple online form. It is however worth noting that Macquarie does reserve the right to carry out a medical if they wish. If you lie on your policy application then you may end up losing it.

Does the Life Insurance Policy from Macquarie Offer Funeral Coverage?

Not exactly. There is not going to be a dedicate payout for funeral coverage. It is however important to note that the payout will be fairly quick and you can use this for the funeral if you wish.

Do the Life Insurance Policies from Macquarie Ever Expire?

They do not. Premiums will rise as you age however.

Do the Child Coverage Options Expire?

As soon as the child hits the age of 15 they will need their own life insurance policy from Macquarie.

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Income Protection  Life Insurance