LifeDirect will give you a cashback of up to 30% of your first year's premiums!
In addition to our standard terms and conditions – 13 months after your policy starts, we'll send you a lump sum of up to 30% of your first year's premium. The cashback needs to be claimed via your MyLifeDirect login (MyLifeDirect is set up once your policy is underway). The payment will be processed 2–4 weeks after the eligibility criteria has been met, provided you have claimed your cashback via your MyLifeDirect login within 13 months of your policy getting underway.
For all eligible policies, the cashback is calculated on the first 12 months' premium, not in subsequent years (excluding any policy fees).
The cashback is paid to you by LifeDirect as a one–off lump sum and does not affect the regular premium you pay to your insurer.
To be eligible to receive a cashback, you must take out an eligible insurance policy through LifeDirect 2020 Limited.
You must register for and log in to MyLifeDirect using the link we provide you when your policy gets underway and use the "claim my cashback" function. This will ask you to provide account details for the cashback to be paid into.
Also, if you are replacing an existing policy with a policy from the same insurer, LifeDirect will only pay a cashback on any increase in premium on your new policy.
The cashback payment will not be processed if your policy is currently in arrears or has been in arrears within the last month at the time of payment processing. Once the policy is no longer in arrears for at least one month, the payment will process.
You must have an active policy when you claim your cashback and it must be claimed within 13 months of your policy commencement date. If you cancel your policy, or it lapses through non–payment, within 24 months of your policy commencement date, you must return in full any cashback payment received to LifeDirect.
If you decrease the cover amount of your policy within 24 months and LifeDirect have paid you a cashback, LifeDirect may request you pay back the component of your cashback covering the decrease. This will be on a case by case basis depending on the circumstances.
LifeDirect reserves the right to take action against you, including (without limitation) the use of collection services, to recover outstanding debts. You are liable for all expenses (including legal fees) that LifeDirect incurs when collecting that debt.