Financial Hardship

Financial Hardship Support during COVID-19

These are challenging times for our community and Insuranceline is here to support our customers when they need us most and are facing immediate financial hardship. 

We encourage any customers facing financial difficulty to contact us on 13 77 87.

Customers on Claim

To ensure our claims managers can provide you with the best possible support while you are on claim, Insuranceline has identified further support where COVID-19 may affect the management of your claim, including:

  • Establishing a dedicated team of experts across our Claims and Health Services functions to develop practical claims solutions.
  • We understand that some customers may find it difficult to collect certain information required to process or assess their claim, either due to social distancing, self-isolation or other matters, so we will continue to listen, and be flexible and pragmatic in our approach.
  • For income protection claims where we know a customer’s medical condition or incapacity is likely to continue in the short term, our team has started to schedule benefit payments up to the next three months. Depending on your claim and circumstances, we may be able to schedule future income protection payments, within the limitations of your policy, to ensure you receive benefits in advance and on time.
  • Insuranceline has increased our Grief Support benefit for death benefits payable as a result of COVID-19. The grief counselling support has doubled where customers can be reimbursed for up to six counselling sessions to a maximum of $2,000.

We encourage you to speak with your claims manager who will be able to assist you with any concerns you may have regarding your claim.  Our claims managers are here to support you.

Support for Existing Customers

It is important to understand that our Life and Income Protection policies come with a grace period or period of extended cover when customers miss a premium payment.  Generally, your insurance cover continues for at least 30 days if you miss a premium payment.  So don’t worry if you have missed a premium payment recently, you are still covered for at least 30 days depending on your individual policy.

If you are an existing customer and having difficulty in making premium payments on your policy then Insuranceline can offer a range of options to provide you with support to maintain your policy.

Please note that in some circumstances, some of these options may not be available to all customers.

  • Options to reduce or change your level of cover. In these circumstances, you may temporarily reduce your level of cover and premium to make it more affordable.  This could include reducing your sum insured, removing inflation indexation, removing some optional benefits, or in the case of Income Protection benefits adjusting your waiting period or benefit period.

    If you reduce your sum insured, then Insuranceline will allow you to increase your cover amount back to the original sum insured without any medical underwriting assessment when you apply for the increase in cover within 6 months of the reduction.  To do this, you must make a Special Application to Decrease Sum Insured Due to Hardship by calling an Insuranceline Customer Service representative on 13 77 87. Your Special Application must be received and accepted by Insuranceline before 31 December 2020*.  Age and cover limits apply.  If you choose to reduce your level of cover, Insuranceline will continue to provide term life cover for you for death as a result of COVID-19 for your original policy sum insured, up to a maximum of $750,000. This applies while you continue to pay premiums for the reduced sum insured, for up to 6 months after your Special Application is accepted by Insuranceline.

  • Increased flexibility around policy premium payments. Insuranceline has generally increased flexibility around policy payment guidelines.  In addition, the reinstatement period for lapsed policies will be increased to provide you with more payment flexibility and options.

These additional measures of support for our customers who are facing difficulty with paying their premiums will be considered where one or more of the following circumstances apply**:

  • You experience involuntary unemployment.
  • You are eligible to receive the Australian Government “Jobkeeper” or “Jobseeker” payment, youth allowance for jobseekers, parenting payment (including the single and partnered payments), special benefit or farm household allowance.
  • You are required to take leave without pay for a minimum period of 3 months.
  • Your hours of employment have been significantly decreased due to workplace restrictions as a result of COVID 19.
  • You are hospitalised as a result of COVID-19.

We recognise that each customer has their own individual circumstances and we encourage you to call an Insuranceline Customer Service representative on 13 77 87 to discuss your individual situation.

These additional financial hardship policies are available for customers to take up prior to 31 December 2020.  If increasing your cover amount after reducing it, and to take up the offer of no medical underwriting, you will need to do so within 6 months of your Special Application to make the reduction having been received and accepted by Insuranceline.

These financial hardship measures and options will be reviewed on a regular basis as the COVID-19 situation evolves and therefore these terms may be subject to change.

Other ways to get help

If you're dealing with financial hardship it’s important that you get the help and support you need. In addition to speaking with us, these organisations may be able to provide you with further assistance. 

National debt helpline -

Lifeline -

Beyond Blue -

MoneySmart - or call 13 11 14

*Additional terms and conditions will apply to cover that is reinstated or resumed following a cover pause and these will be explained to you prior to you taking up any of these options. 

**Policies must have been in place for a minimum period of 6 months to access our full range of premium payment options.