Wise People Would Get Life Insurance

Wise People Would Get Life Insurance

Many Australians see life insurance as an unnecessary expense. There are many reasons why Australians refuse to get a life insurance cover. It is mostly lack of awareness of the pitfalls of the coverage that is the main culprit. Wise people would get Life Insurance.

If you are getting married, or are already married and have kids, now is the perfect time to get life insurance. A life insurance policy gives you the peace of mind that your loved ones are taken care of should something happen to you.

What Do Life Insurance Policies Usually Cover?

The loss of the family breadwinner can have a tremendous impact on the surviving family. Not only do they have to deal with the loss emotionally, but they also have financial matters to face. Often, grief can get the best of everyone, and having to deal with financial problems can be crippling.

With life insurance in place, your surviving family will have coverage for the following:

  • Funeral expenses
  • Mortgage
  • Credit Card debt
  • Education
  • Taxes
  • Bills
  • Daily needs and expenses

What You Should Do to Get the Right Life Insurance for You

There is no right life insurance product for everyone. It will depend on your needs and your priorities. Here are some tips for finding suitable life insurance for you.

  1. Do your research. As there are hundreds of options available for you to check out. Take the time to research different life insurance products in the market. These products come at different prices with different coverage. Therefore, it is important that you find life insurance products that match your needs, financial capabilities, and lifestyle.
  2. Consolidate your superannuation funds coverage. Your previous super funds may already have life insurance coverage that you are not aware of. Consider consolidating them into one super fund so you can closely monitor them and save on fees.
  3. Consult with a life insurance expert. An insurance consultant can help you choose among the overwhelming products available in the market. He can help you find the best deal that still meets your needs.

Life Insurance Products Comparison

Here are the top life insurance products available in the Australian.

  • Real Life Insurance

Real Life Insurance is an award-winning insurance provider. They can give you maximum coverage of $1,000,000, with a minimum insured sum of $100,000. The maximum age of entry is 64, and coverage has no expiry as long as the premiums are duly paid. They also provide a 100% lump sum benefit for terminal illness.

  • Qantas Life Insurance

Qantas Insurance offers maximum coverage of $2,000,000 and a minimum insured sum of $100,000. The maximum entry age is 74, and the expiry age is 99.

  • AAMI Life Insurance

AAMI Insurance offers maximum coverage of $1,000,000 and a minimum insured amount of $100,000. The maximum entry age is 60, while coverage expiry age is 99.

  • Insuranceline Life Cover

Insuranceline offers maximum coverage of $1,500,000 and a minimum insured amount of $100,000. You can still get life insurance from them at age 65, but coverage expiry age is 99.

  • ANZ Life Insurance

ANZ Life Insurance has a maximum coverage of $2,000,000, and a minimum insured sum of $50,000. Maximum age of entry is 59, while the expiry age is 99.

  • Ahm Life Insurance

Ahm Life Insurance has a maximum coverage of $1,500,000 and a minimum insured amount of $100,000. Maximum entry age is 65 and has no expiry age, as long as the premiums are completely settled.

Getting life insurance is a life-changing decision. That’s why Makes Cents is here to help you make sense of the different packages available on the market.

Today is the best time to take control of your future. Talk to an insurance consultant to get the best out of the insurance products available for you.

 

Have you considered switching your life insurance policy? Use our Life Insurance comparison service today.

Makes Cents has an easy form that you can quickly fill out to receive your comparison within minutes. What’s more is this will be personalised to your current circumstance to give you the best quote.