What is life insurance cover

Life insurance policy is the protection that pays a lump sum in the event of diagnosis of terminal illness or death. It’s also known as Life cover.

In Australia most of the homeowners owe a huge amount of debt due to their mortgage. Many even unaware of how to pay off this debt in the event of any contingency. Or how to pay off the death benefits in the event of death.

Life insurance can help you to pay off this debt. It helps your family financially to continue living at your own home. Life insurance also help to finance your children’s education and continue their lifestyle when you are no more here.

If you have the right Life insurance policy in place, you may have the peace of mind that your loved one’s future is protected financially.

LIFE INSURANCE ADVISER

Talk to our Life Insurance Adviser to best protect your future and family!

Who can apply

You are eligible to apply for Life Insurance if you are:

  • An Australian citizen or permanent Australian residents
  • or A New Zealand citizens residing permanently in Australia
  • And aged between 18 to 74

What’s included in Life Insurance

In your life insurance policy, you can choose to have-

Death Benefit – It pays a lump sum benefit which is the insured amount or cover if you die naturally. You can also get Accident death cover depends on the policy of the insurance provider.

Terminal Illness – An early payment of your insured amount or life cover if you are diagnosed with a terminal illness such as cancer,  heart disease, neurological disease or organ failure etc. It may have the option of terminal illness cover.

How to Structure Your Life Insurance

Structuring life insurance is the most important part of your insurance policy. As such it will determine your premium, any possible tax benefit and overall changes in cash flow due to premium. You can either go for Stepped Premium or Level Premium. Both have pros and cons.

Our life insurance adviser helps to understand and determine the suitable policy structure for you.

Who receives the Life Cover Benefits

Your nominated nominee will receive your life cover benefits. You can also change the nominee at any time. If the nominee passes away before you then the benefits will be paid to surviving nominee. If there is no surviving nominee, then the benefit will be paid under the Life Insurance Act 1995 (Cth).

How much will Life Insurance cost

Every individual has unique financial circumstances and objective. So, your insurance should be unique too.  The cost of life insurance or premium depends on various factors such as your age, gender, cover amount, health condition etc. Your policy premium will also depend on how you want to structure it.

Our life insurance adviser can help to choose your insurance and cover amount and  select the options that best suit your objective.

Find out your suitable life insurance policy option and comparison.

Our Life Insurance Adviser Can Help You

While it may seem easy getting a life insurance policy but in reality, it may be more stressful and intimidating.

Identifying the objective of life insurance and the cover amount is the first step. Structuring the policy and applying for it with loads of paper works and understating the terms and conditions are the rest of the steps which are time-consuming and require expert advice to find the suitable solution. We help you in:

  • Choosing a suitable product and an adequate amount of cover for life insurance
  • We compare and help you to find the suitable life insurance policy
  • We look after the application process and all other paperwork so that you can save your time and energy
  • We negotiate with the insurer to save your best interest
  • We follow up with the insurer until your life insurance policy is in effect
  • We help you to review your life insurance policy if your circumstances have changed