How your cashback works

LifeDirect will give you a cashback on your first year's life insurance, mortgage repayment insurance or income protection insurance premium (“Eligible Policies”).

The following cashback options are currently available:

  • LifeDirect’s standard cashback of 20% of your annual premium charges; or
  • LifeDirect’s June 2018 Special Offer of $250 for Eligible Policies where the annual premium exceeds $800 (as further described in the Special Offer terms below).

When your policy starts we'll send you a lump sum equal to 20% of your first year’s premium, or (if you meet the Special Offer criteria) $250, whichever is greater. The cashback is paid on Eligible Policies only and is calculated on the first 12 months' premium, not in subsequent years. 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.

Cashback conditions

To be eligible to receive a cashback, you must take out one of the Eligible Policies through LifeDirect.

No cashback is payable if:

  • You are taking out an additional policy, or replacing an existing policy started through LifeDirect.
  • You take out a policy through an independent financial adviser we have connected you with.

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.

You must have an active policy when you claim your cashback and it must be claimed within six months of your policy commencing. If you cancel your policy, or it lapses through non-payment within twelve months of receiving the cashback, you must return the cashback in full to LifeDirect.

June 2018 Special Offer

The following Special Offer terms and conditions apply in respect of the June 2018 Special Offer (the “Special Offer”) and in addition to the standard cashback terms and conditions. The Special Offer runs from 1 June 2018 to 30 June 2018 (the “Promotional Period”). Applications must be received before the end of the Promotional Period, and Eligible Policies must commence by 31 July 2018 to receive a $250 cashback where the minimum annual premium payable for the policy is at least $800.

You may elect to receive the standard 20% cashback instead of $250, which may be preferable in circumstances where $20% of your annual premium exceeds $250. LifeDirect will automatically pay you whichever amount is greater to ensure you receive the best possible cashback.

LifeDirect may reduce or extend the Promotional Period at its sole discretion.