Life Insurance Australia

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Life insurance protects you and your benefactors in case something unexpected happens to you. If you become terminally ill or pass away, it pays a lump sum.

What is Life Insurance?

Life insurance pays a lump sum to you should you become terminally ill. It pays a lump sum to your loved ones should you pass away. Your loved ones can use the money for educational fees, living expenses and debt payments. Therefore, life insurance can help you or your loved ones to bounce from a financial setback.

What are the Types of Life Insurance?

Trauma Insurance

Trauma insurance pays a lump sum to you should you suffer from a serious medical condition not covered in your private health insurance. Private health insurance does not cover some serious medical conditions.

You can, therefore, use the money to pay for your medical treatment expenses if they are not covered in your private health insurance.

Total and Permanent Disability (TPD) Insurance

TPD pays a lump sum to you should you stop working as a result of an injury or a severe illness. You, however, have to choose between any occupation policy and your own occupation policy.

Any occupation policy is where you cannot perform the work that you are qualified for by training, education or experience. Own occupation policy is when you cannot perform in your usual occupation.

Income Protection Insurance

Income Protection insurance pays a steady income to you should you stop working as a result of an injury or sickness. You will get monthly benefits. It can cover up to 75% of the monthly income that you used to earn before you became sick or got injured.

Income protection can, therefore, help you meet your financial commitments, like household bills, rental payments, mortgage and more.

Why Choose a Life Insurance Broker?

A life insurance broker can help you find a policy that matches your personal circumstances and needs. You will meet with your life insurance broker to discuss your finances, personal circumstances and needs.

Save You Money – A life insurance broker compares multiple policies to find the right policy for you. Your broker will not let you buy more coverage than you need to save you money. You will not spend more money on your life insurance policy.

Save You Time – It takes time to compare the multiple policies on the market on your own, especially if you do not know what you are looking for. Your broker can quickly recommend a life insurance policy that suits your situation.

Conclusion

Once you decide to buy life insurance, do not rush to buy it. It is much better to consult a life insurance broker before buying a life insurance policy. If you want to buy a life insurance policy, get in touch with Absolute Insurance today. They offer over the phone consultations and online zoom meetings.

Frequently Asked Questions

Greg Maguire

Greg Maguire

Greg is an experienced Insurance Broker based in Perth, WA. He holds an Advanced Diploma of Financial Planning from Deakin University and a Bachelor’s Degree from Edith Cowan University. He has been a member of the Chamber of Commerce & Industry WA since 2017. He likes giving back to the community so he's also part of Baldivis Rotary and Vice President of the local high school’s P&C (Parents & Citizens Association). Greg went into personal insurance brokering because he wanted to create a personal, one-to-one service that the larger, less efficient and less involved insurance firms simply can’t provide.

CLAIM YOUR FREE CONSULTATION

Want to find out more or not sure where to start? Get in touch for your free consultation. We’ll meet you at a Perth location that’s convenient to you to discuss how we can help you.