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AMP offered peace of mind to life insurance customers for over 170 years. However, the company has recently divested its life insurance arm and is no longer taking new members. If you’re looking for life insurance from an insurer you can trust, we can help.

At Life Insurance Comparison, we’re focused on finding affordable life insurance that fits your situation—whether you’re looking to increase cover, maintain your policy, or simply learn more about the benefits of life insurance. We work with a panel of trusted insurers to save you money on quality life cover. Enter your details above to get your free quote today.

Here’s what you need to know about Life Insurance Policies...
  • Most Australians are inadequately prepared for the financial devastation that follows when losing a loved one. When a family loses one income due to injury or death, the ripple effect can be huge. Dependable life insurance cover means that you don’t have to worry about paying the bills in the aftermath of a tragedy, and can focus on what matters the most: your family.
  • Compare policies from up to 9 different life insurance companies to find a great deal on affordable coverage. Switching is easy and convenient; you choose a cheaper life insurance policy and we’ll help take care of the paperwork. There’s never any fee charged for our services, so we’ll save you time and money. When you compare life insurance with us, you make an informed decision about which policy offers your family the most value.
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How Frank Consolidated Policies & Saved $4,000 On Life Insurance
Frank, NSW
Comparing policies was his first step

Before he came to us, Frank was paying for three separate insurance policies that were costing him over $10,000 a year. He was frustrated and disappointed with his insurers but didn’t know where to start.

With the help from one of our senior specialists he was able to amalgamate his policies into one comprehensive plan. With a new yearly premium of $6,000, and an insurer that has paid out over $2 billion in claims to Australians over the past two years Frank’s family was better protected and he was paying less.

Frank has since returned to us and we’re helping him with his Income Protection claim. As he recovers from knee surgery this money will help him support his family while he’s unable to work.

How Maggie Saved On Life Insurance
Maggie, VIC
Funding her premium through her Self-Managed Super Fund.

After years of paying premiums to the same insurer Maggie found herself in trouble when they suddenly refused to renew her policy. Due to a change in her health and her finances, she was told that no insurers would protect her. That’s when she came to us.

Our life insurance specialists were not only able to get Maggie the peace of mind that an underwritten life insurance policy brings; they also helped her save a few thousand dollars on her yearly premium. She was even able to save on her out of pocket expenses by opting to fund the new premium through her SMSF (self-managed super fund).

Maggie is now in the process of upping her cover to include a Trauma Insurance benefit with the help of one of our senior specialists.
With our help she’s making the journey from uninsurable to fully protected.

Frequently Asked Questions
Q : Who is AMP?

AMP Life Insurance was originally founded as a non-profit life insurance provider in 1849. Over more than 160 years, AMP Life has developed to become one of the largest companies providing life insurance to Australians. AMP has a network of more than 4,000 advisers and planners who help consumers to purchase life cover and other policies. In 2011, AMP merged with AXA to provide even more insurance coverage and financial assistance to individuals and businesses throughout Australia. Today, AMP offers flexible policies for life and income protection, as well as many other types of coverage that protect Australians from life’s uncertainties.

Q : What are the key features?

AMP insurance plans offer many features designed to provide broad and comprehensive coverage to policyholders and designed to provide assistance to beneficiaries in their time of need. Examples include a $15,000 funeral benefit, as well as an accommodation benefit to pay for reasonable expenses of immediate family members who accompany insured policyholders re-ceiving treatment. The sole owner and sole insured person of a life insurance policy can nomi-nate beneficiaries, and when a policyholder is diagnosed with a terminal illness, he or she may elect to receive advanced payment of death cover under AMP’s policy guidelines.

Q : What types of cover are offered?

AMP offers many different kinds of insurance coverage so every Australian can get the protection he or she needs from illness, disability, and death. Coverage options available through AMP include the following:

  • Life Cover: AMP Elevate Life Cover is available with no maximum cover limit, pending ap-proval by underwriting. Policies can be purchased up until age 70, and can be purchased by individuals, trusts, or trustees of self-managed super funds. There is also an option to pur-chase a life cover policy in your superannuation fund so premiums will not need to be paid with out-of-pocket funds.
  • Income insurance: Income insurance through AMP provides you with 75 percent of the amount of your earnings before you became disabled, in the event that you suffer an illness or an injury that renders you unable to earn income. Coverage is available to protect up to $60,000 in income. Income insurance may also be purchased through a superannuation plan.
  • Trauma Insurance: Elevate Trauma Insurance provided through AMP provides up to $2 mil-lion in a lump sum payment if you develop an illness or injury that your policy covers.
  • Business Expense Insurance: Up to 100 percent of your eligible ongoing business expenses will be paid by AMP Elevate Business Insurance if you become disabled.
  • Total and Permanent Disability Insurance: You may purchase between $50,000 and $5 mil-lion in coverage in case you become permanently disabled, as long as you are between ages 16 and 60.
Q : AMP Member Rewards?

Members who obtain coverage through AMP receive benefits and advantages including:

  • Guaranteed future insurability: It is possible to increase life insurance coverage, total perma-nent disability cover, and trauma cover without a need to provide additional health or person-al information once you are already covered by an AMP policy.
  • Indexation: On your plan anniversary, your insured amount under your life protection plan increases automatically based on the increase in the CPI, unless otherwise agreed.
  • Waiver of premium option: Waiver of premiums are available on both individual life policies and nominated life policies.
  • Waiting periods for attempted return to work: If you return to work for a period of five or few-er days, your waiting period will not begin again so you will not experience a long delay be-fore you receive benefits just because you tried to resume working.
  • Financial planning benefits: Financial planning is built in to all policies.
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