Direct Cover Life Insurance

Direct Cover Company History and Milestones

Direct Cover is a trading name of Neilson Financial Services Pty Ltd, an Australian financial services provider. Neilson is part of a global network whose brands have been chosen by over 500,000 customers worldwide and have been rated 'Excellent' by thousands of customers on Trustpilot.

Key Milestones:

• 2025: Launch of Direct Cover Life Insurance in partnership with St Andrew’s Insurance Group, offering fully underwritten, stepped premium life insurance for Australian residents aged 18 to 70.
• 2025: Introduction of a streamlined application process, allowing customers to apply without medical exams or blood tests, simply by answering health and lifestyle questions.
• 2025: Recognition for customer service excellence, with Direct Cover being part of a group rated 'Excellent' by thousands of customers on Trustpilot. ​

Direct Cover continues to focus on providing straightforward life insurance solutions, helping Australians protect the life they've built for their loved ones.​

Direct Cover: Key Strengths

Backed by a Licensed Australian Insurer: Direct Cover policies are underwritten by Hallmark Life Insurance Company Ltd, part of the St Andrew’s Insurance Group, which is a well-established provider in the Australian insurance market. This partnership ensures:

• Regulatory oversight and compliance under APRA and ASIC guidelines
• Reliable claims management from a specialist life insurer

Simple and Accessible Life Insurance:

Direct Cover focuses on delivering no-fuss, straightforward life insurance that is easy to understand and quick to obtain. This makes it ideal for Australians who:

• Prefer a streamlined application without medical exams
• Want a fast and efficient path to coverage
• Are comfortable applying directly without a financial adviser

Flexible Cover Options: While Direct Cover focuses solely on life insurance, it provides:

• A range of benefit levels based on age and needs (up to $1.5 million)
• Optional automatic benefit increases to help keep pace with inflation
• The ability to adjust or cancel cover at any time

No Medical Exams Required: Applications are assessed via a short health and lifestyle questionnaire, eliminating the need for time-consuming medicals or blood tests. This simplifies the underwriting process while still offering substantial cover.

Australian-Based Customer and Claims Support: All policy servicing and claims are managed by Australian-based teams, ensuring:

• Local support during critical times: Quick and clear communication during claims and enquiries
  
• Positive Customer Sentiment (Group-Wide): Direct Cover is part of Neilson Financial Services, whose brands are used by over 500,000 customers globally and have thousands of positive Trustpilot reviews. This broader network reinforces customer satisfaction and operational scale.

Direct Cover – Sustainability and Corporate Responsibility

As of now, Direct Cover does not publicly disclose specific sustainability or corporate responsibility initiatives on its official website. However, its parent company, Neilson Financial Services, operates within a global network that emphasizes customer trust and service excellence. While detailed ESG (Environmental, Social, and Governance) commitments are not explicitly outlined, the organization

While Direct Cover may not have publicly available information on specific sustainability initiatives, the company's alignment with industry trends suggests a growing awareness and potential future engagement in ESG practices.​

Direct Cover - Product Disclosure Statement (PDS)

The Direct Cover Life Insurance Product Disclosure Statement (PDS) provides detailed information to help you decide if this policy is right for you. It outlines the key features, benefits, conditions, exclusions, and risks involved with holding a policy, as well as how premiums work, how to make a claim, and how to cancel your cover.

Key Information:

• Product Name: Direct Cover Life Insurance
• Issue Date: 22 January 2025
• Insurer: Hallmark Life Insurance Company Ltd (ABN 87 008 446 884, AFSL 243469)
• Distributor: Direct Cover (a trading name of Neilson Financial Services Pty Ltd)

What’s Included:

• Lump sum benefit paid upon death or diagnosis of a terminal illness
• Automatic Benefit Amount Increase of 3% annually (optional)
• Maximum cover of up to $1.5 million, depending on age at application
• No medical exams required — eligibility based on lifestyle and health questions

Important Notes:

• Suicide and intentional self-harm are excluded within the first 13 months
• Premiums are age-stepped and increase annually
• Policy has no surrender or cash value
• You can cancel within a 30-day cooling-off period for a full refund (if no claim has been made)

To access the full PDS: Visit our PDS section

IMPORTANT NOTE: This information is general information only, which means it doesn't consider your individual objectives, financial situation or needs. Therefore, you should consider how appropriate CommInsure Life Insurance is for you by carefully reading this PDS and comparing your options before making a decision..

Direct Cover Life Insurance TMD

Effective Date: 22 January 2025Issuer: Hallmark Life Insurance Company Ltd (ABN 87 008 446 884, AFSL 243469)

Who this cover is designed for:

The target market comprises consumers who are:

• Aged 18–70 years old at the time of application;
• An Australian Resident (as defined in the PDS);
• Seeking life insurance that provides a lump sum payment upon death or diagnosis of a terminal illness (life expectancy less than 12 months);
• Wanting to protect their loved ones by covering debts, mortgages, living expenses, education costs, or to leave a financial legacy;
• Willing to go through an underwriting process, including health and lifestyle questions;
• Able to afford variable age-stepped premiums that increase over time.

Key Features:

• Life cover only – pays a lump sum upon death or terminal illness diagnosis.
• Benefit Amounts:
  • Up to $1.5 million for ages 18–45
  • Up to $1 million for ages 46–55
  • Up to $600,000 for ages 56–60
  • Up to $300,000 for ages 61–65
  • Up to $200,000 for ages 66–70
• Automatic Benefit Amount Increase of 3% per year (opt-out available).
• Premiums: Fortnightly or monthly via direct debit or card.
• Premium Structure: Age-stepped premiums that increase annually.
• No expiry age — cover continues until claim or cancellation.

Important Exclusions:

• No payout for intentional self-inflicted injury or suicide within 13 months of policy start or reinstatement.
• No payout for increased cover if death or terminal illness occurs due to intentional self-harm within 13 months of the increase.
• Any special terms added during underwriting and stated in the policy schedule will also apply.

When it might not suit:

This product is not suitable for consumers who:

• Are under 18 or over 70 years old at time of application;Require cover types not offered (e.g., TPD, trauma, or income protection);
• Need premium certainty or a level premium structure;
• Cannot afford ongoing, increasing premiums;
• Are unable to satisfy underwriting requirements (i.e., health and lifestyle questions);
• Require cover exceeding the maximum benefit limits.

NOTE: This product is not to be distributed through personal advice.

Contact Details – Direct Cover

Company Name: Direct Cover (a trading name of Neilson Financial Services Pty Ltd)​
General Enquiries Phone: 1800 577 321
Claims Enquiries Phone: 1800 531 572​
Postal Address: Direct Cover, PO Box R985, Royal Exchange NSW 1225
Operating Hours: Monday – Friday, 8am – 7pm (AEST/AEDT), excluding NSW public holidays