Life Insurance for Non-Australian Residents

Compare life insurance policies from a panel of trusted insurers as a non-permanent resident of Australia with Savvy.

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, updated on July 19th, 2023       

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Life Insurance

We’ve partnered with Compare Club to bring you a range of life insurance policies to help you compare them side by side.

Life insurance is an important consideration for non-Australian temporary residents living or working in Australia. Even if you are covered by a policy in your home country, it may not provide adequate coverage for unexpected events such as illness, injury or death while in Australia. Having a life insurance policy in place can provide peace of mind and financial security for you and your loved ones.

You can easily compare a range of life insurance policies suitable for overseas residents living in Australia in one place through Savvy. Our panel of trusted insurers offers policies with various coverage levels and additional benefits, enabling you to compare a range of quotes instantly. Get started today with a free, no-obligation quote through us.

How can I get life insurance as a non-Australian resident?

As a non-Australian (or temporary) resident, you’ll have to meet several key criteria to purchase life insurance. These may vary depending on the insurer, but will generally relate to the following areas:

  • Visa type: not all visa types may be accepted by life insurance companies, so it’s important to consider whether yours is eligible. Some of the visas which may be accepted include working or business visas and certain migrant visas. These will generally need to enable you to stay in the country for an extended period, in some cases up to four years.
  • How long you’ve been in Australia: insurers may have a minimum requirement for the period you’ve already been in Australia before you’re able to take out a policy. This may range from six to 12 months, depending on who you apply with.
  • Your intentions for the future: life insurance companies will generally need to see that you’re intending to apply for permanent residency in the future before approving your application for a policy. They may also wish to see your travel plans over the next 12 months.

Apart from meeting visa and residency requirements, you’ll also need to meet the standard life insurance eligibility criteria, such as age, health status, occupation, smoking status and more. Insurers require applicants to be at least 18 and up to between 60 and 75 years old (depending on the insurer, type of policy and whether you meet the terms and conditions) at the time they apply.

To help you find the best coverage for your needs, it's crucial to compare policies from different insurers, which you can do right here through Savvy. You can easily consider policies and premiums from multiple insurers in one place with instant online quotes.

Will I have to purchase a new life insurance policy if I have one in my previous country of residence?

If you purchased a life insurance policy in your previous country of residence, it’s unlikely that it’ll continue to be valid once you move to Australia beyond a set period. Life insurance policies are generally specific to the country in which they were issued, although some may have limited coverage for time spent overseas, such as up to six months.

Therefore, if you’re intending to live in Australia for an extended period and want life insurance coverage, you may wish to obtain a new life insurance policy in Australia. This will ensure that your policy meets the specific requirements and regulations of Australia, as well as your individual needs.

However, it is always best to check with your previous insurer to see if there are any options available to transfer your policy or if there are any provisions in place for international coverage.

Types of life insurance

Why compare life insurance through Savvy?

Frequently asked questions about life insurance for non-Australian residents

What are the types of life insurance available in Australia?

Life insurance policies available in Australia include term life insurance, total and permanent disability (TPD) insurance, income protection insurance and trauma insurance (also known as critical illness cover). Each of these offer a different form of coverage, so it’s important to compare them before you buy, which you can do through Savvy.

How much will life insurance cost as a non-Australian resident?

The cost of life insurance as a non-Australian resident will depend on various factors, such as age, health, occupation, coverage amount, the nature of your visa and more. It's crucial to compare quotes from different insurers to help you find a policy which suits your needs and budget.

Can I access life insurance through my employer as a non-resident?

It may be possible to access life insurance through your employer as a non-resident, depending on the employer's policy and whether they offer it. It's best to check with your employer to see if they offer any group insurance schemes.

Can I buy a life insurance policy if I’m living in Australia on an aged parent visa?

You may be able to buy a life insurance policy if you’re living in Australia on an aged parent visa as a senior, provided you meet the eligibility criteria set by your insurer.

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Disclaimer:

Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of life insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a life insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.

Savvy does not compare all life insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.

For any further information on the variety of insurers compared by Compare Club or how their business works, you can read their Financial Services Guide.