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Does Life Insurance Cover Suicide in Australia?

Many Australian life insurance companies do cover suicide after a specific exclusion period. However, it is important to refer to your product disclosure statement (PDS) to make sure you understand the terms and conditions surrounding cause of death and what constitutes a valid claim should you ever need to make a claim related to a death by suicide.
Fact Checked

Updated: 19 May 2024

Suicide has become one of the most common killers of Australians. According to the Australian Bureau of Statistics (ABS), suicide does not discriminate based on ethnicity, age, or gender. Around 3,000 people commit suicide each year and it is the main cause of death in people between the ages of 15 and 49. Suicide is also the third leading cause of premature death.

The pain you feel when surviving the intentional death of a loved one is made worse when that loved one’s income was contributing to maintaining their family unit. Which is why it’s essential to understand all of the details surrounding life insurance and suicide.

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