Life Insurance Direct Blog

Income Protection Premiums Increase for 2020

Find out if you’ll pay more for your income protection insurance and 10 ways you can reduce the cost. Compare income protection premiums online and save!

News 24 August 2020
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AIA Health Insurance with AIA Vitality

Cover that protects and rewards They’ve created cover that will help ensure you’re protected, with features including up to 70% back on extras. All AIA Health Insurance policies also include membership to AIA Vitality, a program that helps you to improve your health and wellbeing and keeps you motivated with ongoing rewards. Cover that changes…

The Coronavirus and Your Life Insurance

In December 2019, the Chinese authorities detected the outbreak of the Coronavirus, which causes the disease Covid-19. The World Health Organization (WHO) declared the disease a pandemic on 11 March 2020, as the illness reached over 110 countries and territories across the globe. Many Australians are concerned whether their life insurance will pay out should…

Health Insurance Premiums Rising 1 April 2020

Private health insurance premiums will rise by an average of 2.92% on 1 April 2020. Although health insurance rates increase annually, each health fund has a specific price increase. However, 2020 will be the year of the lowest increase in over a decade.  The company that has the lowest increase in private health insurance premiums…

Rest Ends AIA Insurance Partnership

TAL Insurance replaces AIA Insurance Rest, one of Australia’s largest super funds previously enjoyed a 15-year relationship with AIA Australia. However, after reviewing both companies’ insurance offerings, Rest felt that TAL would offer its members more affordable and flexible insurance.   In May 2019, the super fund asked TAL to become its new life insurance…

News 10 February 2020
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Insurance Companies Are Changing the Rules

You might have read in the news of the APRA changes coming to income protection insurance. The Australian Prudential Regulation Authority (APRA) has announced some significant shakeups to income protection policies, and none of it benefits you, the customer. The first big change to take effect is that from 31 March 2020, Agreed Value income…

News 7 February 2020
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Life Insurance for Selfie Deaths

The selfie is something of a cultural phenomenon and is especially appealing to travellers, where they take pictures of themselves against spectacular backdrops. However, taking a selfie in a hazardous location or with dangerous objects has led to over 259 deaths since 2011. More people now die in the pursuit of the perfect selfie than…

News 13 September 2019
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Life Insurance Claims Statistics in Australia

One of the biggest concerns people buying life insurance has, is whether their policy will payout should they suddenly pass away or become sick or injured. While a track record of claims paid is not the sole indicator of performance, it can be an important factor to consider when comparing companies and choosing a policy…

News 24 July 2019
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How to Avoid the Lifetime Health Cover Loading

If you’re turning 31 this year, then you probably received a letter from the ATO informing you that you’ll soon be liable for the LHC loading if you do not purchase appropriate hospital coverage. When you’re young and healthy, you might be wondering if it’s worthwhile taking out Hospital cover simply to avoid the Lifetime…

How To's 11 June 2019
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New Super Rules for Life Insurance

You recently might have received an email from your super fund warning you that your life insurance will be cancelled because your account is inactive. Millions of Australians have insurance inside their superannuation. You probably have life insurance, TPD cover and perhaps even income protection insurance (salary continuance cover) in your super fund. To protect…

News 30 May 2019
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myOwn Health Insurance

AIA myOwn: Health Insurance That Gives Back A different type of health insurance that helps you get healthier and provide you with more value by combining hospital and extras cover with the AIA Vitality membership. AIA Health Insurance Australia offers you up to 70% back on Extras from recognised providers, up to your annual limits….

Cash in on Being Healthy or Improving Your Health!

Insurers offering rewards programs Reduced premiums and wellness rewards for maintaining a healthy lifestyle are now available from multiple insurers in the Australian life insurance market such as: AIA Vitality BT My Wellbeing Reward Zurich LiveWell ClearView Health Maintenance MLC On Track NEOS Preferred Lives Discount TAL Health Sense Resisting repeated temptations and willing yourself…

Increase Your Savings with Life Insurance Direct Refer A Friend

The Life Insurance Direct Refer A Friend program offers anyone the opportunity to get one month’s worth of premium for free, up to a maximum of $100 for each successful friend referral. Not only will you save money, but you might even protect a friend against underinsurance. Underinsurance is a massive concern in Australia. You…

How To's 28 May 2018
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How Your Life Insurance Application Is Assessed

A life insurance policy is one of the most important types of insurance you will ever apply for and outside of home insurance, it may be the most important insurance policy you have. As a result, when you apply for a policy you will be required to go through a detailed application process wherein you…

How To's 5 February 2018
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How to effectively process your life insurance claim

It is emotionally and financially stressful when a family member passes away, similarly stressful is being told that you can no longer work due to an illness or injury. These life events are challenging enough on their own, but now you must undergo the complex process of lodging an income protection, disablement, critical illness or…

How To's 5 May 2017
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How do I find the best life insurance policy?

The best life insurance policy is the policy which suits you and your individual circumstances. Every policy offers different built-in features and additional policy options, as well as different price levels. Not everyone will suit every single policy offered by insurers. Four easy steps to finding the best life insurance policy: Step 1: Speak to…

How To's 24 March 2017
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RACV Life Insurance

You might have heard about the life insurance discount offered by RACV and wondered if they’ve expanded their services to include life cover. While RACV offers cover for your home, your car and even your boat, they do not offer life insurance. However, if you’re an RACV insurance member, you can save on newly purchased…

How To's 17 March 2017
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Can I take out Life insurance if I am an Australian expat living overseas?

Australian expat living overseas In relation to expats living overseas, a number of insurers have changed / updated their views on how willing they are to offer life / tpd / trauma or income protection to expat Australians livings aboard. Firstly: Here are some of the key pieces of information that we would need to…

How To's 10 March 2017
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Underwriting of Life Insurance Policies

Life insurance underwriting has everything to do with risk. When you apply for insurance coverage, you are essentially asking the insurance company to take on the potential risk of having to pay a future claim, should something unforeseen happen to you, for example, death or disability. Be aware, many of direct insurers have extensive exclusions…

How To's 31 January 2017
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What’s Behind the High Claims Decline Rates of Direct Life Insurance Policies?

The industry wide ASIC 498 report into life insurance claims outcomes unveiled the truth about how a customer’s choice of distribution channel (policy type) has a considerable bearing on the likelihood of their claim being accepted or declined. The findings were staggering, compared to the Retail (Advised) distribution channel, Non Advised (Direct) distribution channels have…

How To's 24 November 2016
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Building Trust in Your Life Insurance

The recent 498 report by ASIC looked into life insurance claims and disputes registered with an external dispute resolution entity in the Life Insurance Sector. It revealed detailed statistics around claims; claims paid in full, partially, and declined. This report provides the industry with some invaluable insights, however it is also important that consumers become…

How To's 14 November 2016
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Is our Australian Lifestyle Cause for Concern – Australian’s Health 2016 Report

It’s another typical Australian day. You wake up at 06:00 and prepare the kid’s lunches while they attempt breakfast by having a bowl of Weet-Bix and spilling mot of it on the floor. Two hours of chaos later you’re dressed and heading out the door. You manage to drop the kids off just as the…

Health & Wellness 26 September 2016
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The 2016 Quote Index: What’s New, What’s Different, And What It Means For You

A year goes by so fast, you start conversations with “just the other day”, when in reality it happened over 12 months ago. We understand it’s difficult to keep track of all the changes taking place in just one year. That’s why we want to keep you up-to-date on the latest life policy trends, ensuring…

News 1 August 2016
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Avoid Being Overcharged on Your Life Insurance Premiums

Avoid Being Overcharged on Your Life Insurance Premiums Sydney: 18 July, 2016 – Life Insurance Direct has done extensive research of more than 3,000 quotes from 32 brands to launch the 2016 Life Insurance Direct Quote Index. The research reveals that certain big brands are consistently overcharging on life insurance premiums. The 2016 Life Insurance…

News 15 July 2016
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Does Life Insurance Provide Peace of Mind or is Ignorance Bliss?

When buying life insurance you’re often content knowing that, if you should pass away unexpectedly, your insurance company will step in and financially support your loved ones. Unfortunately, this isn’t always the case. This article explores ways you can increase your control and certainty of your policy paying out. Earlier this year , on the…

Immigrating to Australia to Join the Now 24 Million other Aussies

After years of arriving early to work and staying late, you’ve finally been promoted. Your new position allows you more freedom, creativity and the opportunity to travel. You’re immigrating to one of the best countries in the world, Australia. Because of its high quality of life, Australia has been ranked the second-best country in the…

How To's 9 May 2016
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Protect Your Income as Mortgage Repayments Increase

After months of meticulous planning and years of daydreaming you’ve finally been approved for a home loan. You move in and start decorating, filling each space with beloved knickknacks. The mortgage repayments are high, but you’ve budgeted, you feel confident. Out shopping one morning, a newspaper headline catches your eye: “Property price surge could lead…

Health & Wellness 29 February 2016
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Don’t take ‘no’ for an answer and talk to a specialist

Don’t take ‘no’ for an answer and talk to a specialist Consumers who experience difficulty getting insurance – including life, income protection, trauma or total and permanent disability (TPD) – need to be determined and keep trying. “Just because one life insurance company won’t cover you, doesn’t mean another won’t,” says lifeinsurancedirect.com.au CEO Russell Cain. Cain says…

News 8 February 2016
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Will you be accepted?: Three years of statistics

Despite their usefulness, generalisations aren’t always entirely reliable, they can often be misleading, and at other times, simply wrong. For insurance purposes, some generalisations are useful to assessing risks, costs and consequences; all other things being equal females will outlive males, tobacco use is detrimental to your health and the probability of death increases with…

News 30 November 2015
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How to manage food allergies

We live in an age of food panic. If you were to do look at your online search history, the words gluten free, diary free, soy, egg and/or nut free are most likely in your most recent searches. This is not surprising. According to the Centres of Disease Control and Prevention, food allergies among children…

Health & Wellness 5 November 2015
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Life Insurance Framework Survey 2015 Results

Life Insurance Direct have the exclusive right to publish the  ‘Life Insurance Framework Survey 2015’, as authorised by the Life Insurance For Consumer Group. All references to this survey must use the following link: https://www.lifeinsurancedirect.com.au/life-insurance-framework-survey Post the Life Insurance Framework (LIF) announcement, there was a plenty of anecdotal evidence of misrepresentation, and deep concern that…

News 29 October 2015
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Questions premium price spike

Questions premium price spike SYDNEY: 7 September, 2015 – lifeinsurancedirect.com.au is questioning whether the current spike in premiums on life insurance offered by insurers to consumers via financial advisers amounts to price gouging. But Mr Cain said the price increases, which will make it more expensive for consumers to buy life insurance via advisers, comes…

News 7 September 2015
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Protect our firefighters

Protect our firefighters SYDNEY: 12 August, 2015 – A Bill recently introduced into the Queensland Parliament has highlighted the need for Australia to commit to better protecting firefighters, according to LifeInsuranceDirect.com.au. The Bill, which would change the Workers Compensation Act, seeks to put in place a qualifying period a professional firefighter would have to work…

News 12 August 2015
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Life insurance commissions – perception versus reality

SYDNEY: 10 July, 2015 – Life insurers are allowing a misperception that advisers are being paid upfront commissions of up to 120% to continue, according to Life Insurance Direct. “Their intent might be unclear but the effect is not,” says Life Insurance Direct CEO, Russell Cain. “This view of adviser remuneration is popularly accepted but,…

News 10 July 2015
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Life Insurance – Are you paying too much?

Are you paying too much? With the plethora of life insurance offers now being marketed to Australians, consumers may be confused about which policies are more affordable, according to Life Insurance Direct Australia (Life Insurance Direct) CEO, Russell Cain. To help consumers make more informed choices, Life Insurance Direct conducted first of its kind research…

News 18 June 2015
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xLife Rebrands as Life Insurance Direct

xLife has rebranded We are happy to announce the exciting news that xLife has rebranded and will now be known as Life Insurance Direct Australia! Our new name comes with a brand new logo and an amazing new website, lifeinsurancedirect.com.au. After 8 fantastic years as xLife, founder and CEO Russell Cain feels the time is…

News 16 December 2014
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Superfunds caught incorrectly overcharging members with smoker rates on their premiums

Have you given up smoking in recent years? Or maybe your superannuation fund has wrongly classified you as smoker. Now is a good time to check and make sure you’re not paying extra on your premiums.

News 10 September 2020
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Income insurance premiums are rising and here’s what you need to know

Operating in these difficult economic times has forced many insurers to change their pricing and product features to ensure sustainability in the future so that they can continue to benefit their customers.

News 15 August 2020
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Earn an Apple Watch by exercising with AIA Vitality

As a part of AIA Vitality’s ongoing efforts to support the health and physical wellness of their members they’re now rewarding Vitality members with an Apple Watch Series 5 (GPS) for reaching their weekly physical activity targets.

Where to start when looking for income protection insurance

Have you started thinking about income protection insurance? With all this uncertainty in the economy at the moment, you’re not alone.

How To's 9 June 2020
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How do I know what life insurance to buy?

Congratulations! You’ve probably recently come to realise that you need life insurance, great stuff! Here are some questions to ask when buying life insurance.

How To's 28 April 2020
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Frontline Healthcare Workers are not excluded from life insurance coverage

Earlier this month there was some discussion around life insurance policy exclusions for healthcare professionals as many were quick to either purchase life insurance policies or increase their coverage.

News 28 April 2020
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Cash-in this Holiday with Hosting on Airbnb Australia

[vc_row][vc_column][vc_column_text css=”.vc_custom_1573552966103{margin-bottom: 40px !important;}”]The Airbnb boom is enabling many Australians to earn over $5,000 per month. This summer, Airbnb is looking for Australian hosts who want to cash in while away on holiday or make an extra income by renting out a spare room to travellers. Australia is usually one of the highest in-demand destinations…

How To's 13 November 2019
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Insurance Opt-in for Under 25’s and Low Balance Accounts

[vc_row][vc_column][vc_column_text css=”.vc_custom_1573534185980{margin-bottom: 40px !important;}”]There’s been a lot of news lately regarding Superannuation changes, for example how your retirement savings might get eroded by inappropriate insurance and what government is doing to protect you. With all the changes and technical jargon thrown around, it’s understandable that many members are left confused. This article aims to clarify…

News 12 November 2019
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New Super Rules for Life Insurance

[vc_row][vc_column][vc_column_text css=”.vc_custom_1559197476992{margin-top: 15px !important;margin-bottom: 15px !important;}”]You recently might have received an email from your super fund warning you that your life insurance will be cancelled because your account is inactive. Millions of Australians have insurance inside their superannuation. You probably have life insurance, TPD cover and perhaps even income protection insurance (salary continuance cover) in…

News 30 May 2019
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