GIO award-winning life insurance

By Mozo Editorial ·
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UPDATE April 2021: Since this award was given in 2020, GIO has stopped selling life insurance. This product is no longer available for purchase.

Life can be unpredictable - and GIO understands that. Whether it’s being able to pause your cover if needed, or a funeral advance, GIO offers life insurance with flexibility, but without the fuss. It’s perhaps no surprise then that GIO took out a 2020 Mozo Experts Choice Award for Exceptional Quality Life Insurance.

In 2020, our expert judges analysed direct life insurance products - those that can be purchased online directly from an insurer - and split the winners into value and quality categories. And as our judges found, when it comes to life insurance which features all those extra benefits you may need, GIO’s up there with the best. 

“GIO may not be the cheapest insurance out there, but if you want a policy that’s going to be flexible throughout your life, it’s certainly well worth considering,” said Mozo Experts Choice Award Judge, Peter Marshall.

About GIO 

Established in 1927, GIO is part of the Suncorp Network and provides a range of insurance products to Australians. Their policies are issued by AAI Limited. 

In addition to life insurance, GIO also offers car insurance, home and contents insurance, business insurance, and travel insurance.

GIO’s award-winning Life Protect policy

As a 2020 Mozo Experts Choice Award winner for Exceptional Quality Life Insurance, GIO was considered to be one of the market leaders in terms of the added benefits and flexibility you can get when you sign up for one of its life insurance policies. 

When signing up for GIO’s Life Protect policy, you can choose any cover amount between $100,000 and $1 million. Life Protect covers five different causes of death: accidental, natural causes, illness, terminal illness, and suicide after holding the policy for 13 months. 

If you’re diagnosed with a terminal illness, you can even claim your full benefit in advance, to give you time to settle your financial affairs.

With GIO’s Life Protect, you’ll also get the following benefits: 

  • Premium Protector Benefit, for up to 12 months or a max of $2,000 in premiums. 
  • Premium Pause, which gives you the option to pause for up to three months and during that time, you’ll still be covered for accidental death. 
  • While you’re under 60, the option to increase your cover by up to $100,000 each year without the hassle of having to answer further medical questions if life events like a new child or a home purchase occur. 
  • Level premiums option, where your premiums stay the same price as you age. 
  • Funeral advance of $10,000 paid to your beneficiaries, usually within 24 hours of GIO receiving your death certificate and completed claims form (the full payment will come through in 2 business days). 

How to take out life insurance with GIO 

Keen to hop on board with GIO’s Life Protect insurance? It’s simple - you can apply online or over the phone. You won’t need any medical tests or doctor’s reports to apply. It can take as little as 15 minutes to answer a few health and lifestyle questions, and then you’ll get your application assessed right away. 

To be eligible, you must be between 18 and 60 years old, and a citizen or permanent resident of Australia or New Zealand who currently lives in Australia. 

Want to take a look at other award-winning providers? Be sure to check out our full list of 2020 Mozo Experts Choice Life Insurance Award winners.