Where Can I Buy Life Insurance?
It's important to do some research, shop around and compare life insurance policies - and this is easy now with so many insurance providers competing online.What about buying insurance directly?
As with all insurance products there are a number of ways that you can purchase cover. Whether you decide to purchase cover online, over the phone or by speaking with a financial planner you may find that the internet can provide accessible and quick methods to research policies and costs. It can be relatively simple to compare life insurance products and costs online; however, if you are unsure you should also seek advice from a financial adviser before deciding on appropriate insurance cover.What about life insurance in superannuation funds?
Many people have life insurance and disability insurance through their superannuation fund and the premiums for this insurance are normally deducted through their super contributions.
You should review the levels and type of cover that you have in your super fund(s) and make sure that it's enough for you and your family's financial needs. In many cases cover through super can be relatively small and less than you may expect. It is also important to check whether or not your insurance through super could be continued if you were to change employers in the future and to check the other terms and conditions.What should I consider when considering an insurance provider?
Your insurance needs will ultimately depend on your income, debts and lifestyle so it's important to make sure you are getting the cover you need and at a price you can afford - shop around, as the insurance industry is highly competitive. And, check that the policy provides flexibility and can be adjusted to meet your changing needs - remember it's important to read the Product Disclosure Statement (PDS) as it fully describes the product, its benefit and any limitations.
The information in this article is about life insurance and related products generally and not a specific product.Important note
The information contained on this website is general information only. It does not take into account your individual objectives or financial situation. You should therefore consider the appropriateness of the insurance having regard to your objectives, financial situation and needs. Prior to making any decision you should read the Product Disclosure Statement (PDS). If you require assistance to determine if an insurance product suits your objectives, financial situation and needs then you should seek advice from your financial adviser.