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ANZ Income Protection update: April 2020


Published 3 April 2020

We are currently witnessing unprecedented events and new sales of this product are unavailable.

Following the removal of ANZ Income Protection insurance from the market at this time, we provide some more information for existing customers and people interested in taking out our cover. 

I want to take out ANZ Income Protection, but I can’t apply. Why not?

We review the products from time to time to launch new products, improve others and in some circumstances cease offering a product. We have removed our ANZ Income Protection product from sale at this time.

How will I know if/when ANZ Income Protection will become available again?

We don’t have a time frame to provide right now. Any update will be provided on our website. When you are online with us you can check in for any updates.

I have an existing ANZ Income Protection policy with involuntary unemployment cover. Am I still covered?

If you’re an existing customer and have met the policy terms, including the qualifying period, generally you will be covered.

Is it too late to take out life insurance for coronavirus?

You can still apply for ANZ Life Insurance or ANZ Recover Well and we will ask you some additional questions. It’s also important you understand the specifics of each product, including the corresponding qualifying periods and exclusions and limitations.

Find out more about these products and access the Product Disclosure Statements below.

How can I make a claim?

Make sure to have your policy number handy and visit this page.

This information is current as at date of publication and is subject to change.

The issuer of this information is ANZ. While ANZ has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, ANZ does not accept any responsibility or liability arising from your use of this information.

Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522 AFSL 234527 is an authorised deposit taking institution (Bank) under the Banking Act 1959 (Cth). The issuers of these products are not Banks. Although ANZ distributes these products, these products are not a deposit or other liability of ANZ or its related group companies. None of them stands behind or guarantees the issuers or the products. 

ANZ Income Protection covers two separate financial products – Income Cover is issued by OnePath Life Limited (OnePath Life) (ABN 33 009 657 176, AFSL 238 341) and Involuntary Unemployment and Family Care Cover are issued by OnePath General Insurance Pty Limited (ABN 56 072 892 365, AFSL 288 160) (OnePath General). We recommend that you read the ANZ Financial Services Guide (PDF 479kB) and ANZ Income Protection Product Disclosure Statement and Policy Document (PDF 272kB) (available online or by calling 13 16 14) before deciding whether to continue to hold this product. This PDS relates to policies issued from 1 June 2019. Previous products (with the same name) may have different features and benefits. If you hold insurance based on an earlier PDS, please contact us if you have any questions or to have a PDS sent to you.

This information is of a general nature and has been prepared without taking account of your objectives, financial situation or needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. 

The ANZ App is provided by ANZ. Super, Shares and Insurance (if available) are not provided by ANZ but entities which are not banks. ANZ does not guarantee them. ANZ recommends that you read the ANZ App Terms and Conditions available at anz.com and consider if this service is appropriate to you prior to making a decision to acquire or use the ANZ App.

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