Life Insurance in Australia | Get a Life Insurance Quote
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What to think of before buying life insurance
Many people searching for life insurance are trying to solve practical financial questions. Understanding these concerns early can make it easier to compare policies and decide whether cover is appropriate for your situation.
Common concerns include:
- How much will life insurance cost? Will the premiums fit within your budget now and in the future?
- How much cover do I actually need? Would your family be able to manage debts and living costs without your income?
- Which type of cover suits my situation? Do you need life cover, income protection, or a combination of policies?
- Should I use the cover in my super or buy my own policy? Is your existing super cover enough, or do you need additional protection?
- How do I compare policies confidently? What features, benefits and premium structures should you focus on when choosing cover?
What is life cover?
Life cover, also known as life insurance or death cover, pays a lump sum to your nominated beneficiaries if you pass away or are diagnosed with a terminal illness. The payment is intended to help your loved ones manage important financial responsibilities at a difficult time.
The lump sum can be used to help cover things like:
- Everyday living expenses
- Mortgage or rent payments
- Outstanding debts such as credit cards or personal loans
- Funeral and related costs
Most life cover policies also include a terminal illness benefit, which allows the lump sum to be paid in advance if you are diagnosed with a terminal condition with a limited life expectancy. This can help with medical treatment, care costs and household expenses while you focus on your health and family.
Life insurance generally provides worldwide cover, 24 hours a day, for most causes of death. However, exclusions may apply, particularly in the early stages of a policy. For example, many policies do not pay a benefit for suicide within the first 13 months after the policy begins.
To understand exactly what is covered and what is excluded, you should read the Product Disclosure Statement (PDS) before taking out a policy.
What does life insurance cover?
Life insurance provides a lump sum payment if you pass away or are diagnosed with a terminal illness. This payment is designed to give your loved ones financial support when they need it most. The benefit is typically paid as a single lump sum, giving your beneficiaries flexibility in how the money is used based on their financial priorities at the time.
Life insurance can help cover:
- Mortgage or rent repayments
- Everyday living expenses such as groceries and utilities
- Outstanding debts like personal loans or credit cards
- Funeral and related costs
- Future costs such as childcare or education
Types of life insurance in Australia
There are several types of life insurance available in Australia, each designed to cover different financial risks. You can take these policies out individually or combine them into a single plan, depending on your requirements.
- Life (death) cover: Pays a lump sum to your beneficiaries if you pass away or are diagnosed with a terminal illness.
- Total and Permanent Disability (TPD) cover: Provides a lump sum payment if you become permanently disabled and are unlikely to work again. The benefit can be used for medical care, rehabilitation, or everyday living costs.
- Trauma (critical illness) cover: Pays a lump sum if you are diagnosed with a serious illness or injury, such as cancer, stroke or heart attack. It is intended to help with treatment costs and time away from work.
- Income protection: Pays a monthly benefit if you are unable to work due to illness or injury. It is designed to replace part of your regular income for a maximum period of time.
Some policies allow you to bundle these types of cover together, which can simplify management and may reduce overall premium costs.
Life insurance through super vs personal cover
Life insurance inside super is cover held through your superannuation account rather than a personally owned policy. It is designed to provide financial support if you pass away, become permanently disabled, or are unable to work due to illness or injury. Many Australians already have some level of insurance through their super without actively choosing it.
Life insurance through super
- Premiums are paid from your super balance instead of your take-home pay.
- Many super funds provide default cover automatically once eligibility rules are met.
- Cover amounts and features are usually more basic and less flexible.
- Benefits must meet superannuation conditions before they can be released.
- Premiums reduce your retirement savings over time.
Personally owned life insurance
- Premiums are paid from your bank account using after-tax income.
- You can usually choose higher cover amounts and more policy features.
- Greater flexibility in how the policy is structured and who receives the benefit.
- Cover typically continues as long as premiums are paid.
- Does not directly reduce your super balance.
Life insurance for your life stage
Life insurance requirements can change depending on your stage of life, financial commitments and who relies on you for support. Exploring cover designed for your situation can help ensure your protection matches your responsibilities.
Life insurance for families
Families often rely on one or more incomes to cover living costs, mortgages and education. Family Life insurance can help replace lost income and provide financial stability for dependants.
Life insurance for seniors
Later in life, financial priorities may shift toward covering final expenses or supporting a partner. Some seniors choose smaller amounts of life cover focused on peace of mind rather than income replacement.
Life insurance through super
Many Australians hold life insurance through their superannuation fund, with premiums paid from their super balance. This can be a convenient starting point, although cover may be more limited than personally owned policies.
Income protection insurance
Income protection provides a monthly payment if you cannot work due to illness or injury. It helps cover everyday expenses while you recover.
TPD and trauma cover
TPD and trauma insurance provide lump sum payments for serious disabilities or major illnesses. These funds can help with medical costs, debts or lifestyle adjustments.
How much life insurance do you need?
Working out how much life cover you may need involves estimating the financial shortfall your family could face if your income was no longer available. Rather than choosing a random amount, it helps to think through how your household would cope financially in both the short and long term.
Start by thinking of the key expenses your family would still need to manage if you weren’t around anymore. This may include ongoing household costs, loan repayments, childcare, and future commitments such as school or university fees. You may also want to allow for one-off costs like funeral expenses or medical bills.
Next, consider what financial resources would already be available. This could include superannuation, savings, investments, insurance held through super, or any assets that could be sold if needed. These funds may reduce how much additional support your family would require.
The aim of life cover is to help close the gap between what your family would require and what they would already have access to. Choosing an amount that closes this gap can help provide financial stability and reduce pressure on your loved ones during a difficult time.
How much does life insurance cost?
Life insurance premiums vary from person to person because they are based on individual risk and the type of policy you choose. The amount you pay will depend on how much cover you need and how your policy is structured.
Life insurance premiums are influenced by several key factors, including:
- The level of cover (sum insured): Higher cover amounts usually result in higher premiums.
- Premium structure: You may be able to choose between variable age-stepped premiums, variable premiums, or a hybrid option, which affects how your premiums change over time.
- Optional policy features: Adding extras such as child cover or additional benefits can increase the cost of your policy but allow you to customize cover for your requirements.
- Age, gender and location: Insurers consider your age when you apply, as well as factors such as gender and the state or territory you live in.
- Smoking status: Smokers typically pay higher premiums than non-smokers due to increased health risks.
- Health and lifestyle: Existing medical conditions and high-risk activities or hobbies can affect pricing.
- Health rewards programs: Some insurers offer programs that link premiums to healthy behaviour, which can reduce costs over time.
Because each insurer weighs these factors differently, the cost of life insurance can vary significantly between policies. Comparing life insurance quotes can help you see how much cover may cost for your circumstances and what options fit within your budget.
Compare life insurance premiums in 2026
| Insurer | Male; Variable Age-Stepped | Female; Variable Age-Stepped | Male; Variable | Female; Variable |
|---|---|---|---|---|
 | $51.57 | $39.10 | N/A | N/A |
 | $43.04 | $42.13 | $267.76 | $188.26 |
 | $49.51 | $40.49 | $305.42 | $212.58 |
 | $51.17 | $40.18 | $256.94 | $189.14 |
 | $52.10 | $38.69 | $223.31 | $158.97 |
 | $44.64 | $36.53 | $212.99 | $179.73 |
 | $40.89 | $36.54 | $260.82 | $197.44 |
 | $55.43 | $42.43 | $277.73 | $194.03 |
Source: Life Insurance Direct Comparison Engine (February 2026, Premium estimates for $ 1 million of life cover for a 45-year-old non-smoking individual who resides in NSW)
How to get a life insurance quote
A life insurance quote is an estimate of how much you may pay for cover based on the details you provide. Insurers use this information to assess risk and calculate a premium that reflects your age, health, lifestyle and the type of policy you choose. When you request a life insurance quote, you will usually be asked for basic information such as your age, gender, smoking status, occupation and the amount of cover you want.
Life insurance quotes can vary between insurers because each provider uses its own pricing model and may place more or less weight on certain factors. This means two quotes for the same level of cover can differ even if the policy features are similar. Getting multiple life insurance quotes allows you to compare costs and understand what level of cover may suit your budget before deciding whether to proceed with an application.
How to compare life insurance policies
When comparing life insurance policies, it’s important to consider several factors to ensure you choose the right one that suits your needs and budget. These factors include coverage amount, type of policy, premiums, underwriting process, and insurer’s reputation.
- Premiums: Policy premiums are generally made up by adding the base premium, policy fees and any applicable stamp duties. These are typically not applied to life cover but may be added to other policy types like Income Protection. To find the cheapest life cover, look for discounts for annual payments, savings when purchasing other types of cover from the same company and healthy life discounts. Alternatively, you could save on your premiums by maintaining a healthy lifestyle.
- Premium Types: Typically, there are three types of term life premiums:
- Variable Age-Stepped Premiums: Start cheap but cost increases as you age each year.
- Variable Premiums: These may be more expensive when you apply for cover but do not increase due to a change in age and are worth considering for long-term affordability.
- Hybrid premiums: Combines Variable Age-Stepped Premiums and Variable premiums. Your premiums start as Variable Age-Stepped premiums but are converted to Variable style policy once the Variable Age-Stepped Premiums reach a higher amount than the Variable Premium amount.
- Built-in Benefits: It’s important to examine the benefits you receive from your life cover. Some benefits are standard. However, these benefits may only be found in some policies. Or, some benefits may come standard with one provider but could be a paid-for option with another insurer. Common built-in benefits include:
- Terminal illness benefit: If you are diagnosed with a terminal illness and have less than 12 -24 months to live, depending on the insurer, they will pay the full death benefit to you in advance.
- Funeral advancement benefit: Typically range from $10,000 to 10% of your sum insured to help cover funeral expenses once the insurer receives the full claim forms and a valid death certificate.
- Future insurability benefit: Allows you to add to your cover after a significant life event without providing additional medical information.
- Financial advice benefit: Depending on your insurer, you could be reimbursed for the cost of obtaining financial advice. Depending on your insurer, this benefit generally ranges between $2,000 and $5,000.
- Premium freeze option: If you’re on a Variable Age-Stepped Premium structure, you can freeze your premiums. However, your level of coverage will typically be reduced to keep your policy at its current price.
- Indexation: To help your policy keep up with inflation, your level of cover increases either by the CPI or a set percentage (3-5%, depending on the insurer) each year, whichever is greater.
- Interim cover: If you pass away due to an accident during your policy assessment, your insurer may provide a lump sum payment. Insurers generally pay out the lesser of $1,000,000 or your sum insured at the time of application.
- Exclusions: A standard exclusion refers to events, conditions, or circumstances your insurer won’t cover. For instance, most insurers won’t pay out your policy if your death resulted from suicide in the first 13 months after your policy was accepted. However, read your policy disclosure statement (PDS) to find out what you won’t be able to claim.
- Expiry Ages: Different policies have different expiry ages. Typically, you’ll find that most term life policies expire when you turn 100 years old. However, it’s best to check with your insurer.
- Other policy terms and conditions: It’s important to read your policy’s product disclosure statement. For instance, if you try to avoid exclusion by failing to inform the insurer of your medical conditions, the insurer might be within their rights to decline a future claim or void your policy.
Buying life insurance in Australia
There are a few different ways to buy life insurance in Australia. The best option depends on how much help you want and how much flexibility you need in your policy.
You can buy life insurance:
- Directly from an insurer: Apply online or over the phone and choose your own cover. This can suit people who are comfortable making decisions without advice.
- Through a broker or comparison service: A specialist can help compare policies from different insurers and explain the differences between price and features.
- Through your superannuation fund: Premiums are paid from your super balance, which can make cover easier to manage, but policies may have lower limits and fewer features.
Before you buy, it helps to think about:
- How much cover you need
- Which type of policy suits your situation
- Whether you want cover inside or outside super
- How much you can afford to pay in premiums
Who should consider life insurance?
Life insurance requirements often change as your life and responsibilities evolve. Different stages of life bring different financial priorities, and the right cover can help protect what matters most at each stage.
- Just starting out: When you are early in your career, you may have fewer financial commitments but still rely on your income to support your lifestyle. Some people at this stage focus on cover that protects their ability to earn an income if illness or injury occurs, while keeping life cover at a lower level.
- In a relationship or building a life together: As financial responsibilities are shared, such as rent, a mortgage or joint savings goals, life insurance can help ensure your partner is not left managing these commitments alone if something happens to you.
- Starting or raising a family: With children and dependants, financial protection becomes more important. Life insurance can help replace lost income and cover everyday living costs, childcare and education expenses if you are no longer able to provide for your family.
- Established families and growing assets: As your household becomes more financially secure, your focus may shift to protecting your home, savings and long-term plans. At this stage, life insurance can help safeguard what you have built and reduce the risk of leaving financial burdens behind.
- Approaching retirement: When retirement is closer, priorities often move towards preserving savings and ensuring a partner is supported. Cover may be adjusted as debts reduce and children become financially independent, while still allowing for protection against unexpected events.
- Later life: In later years, some people keep a smaller level of cover to help with final expenses or to leave money for loved ones. The aim is often peace of mind rather than income replacement.
Because circumstances change over time, reviewing your life insurance as you reach new milestones can help ensure your cover continues to match your requirements and financial situation.
Alternatives to life insurance
In some cases, standard life insurance may not be available or may be more expensive than expected. This can happen if you have certain medical conditions, a high-risk occupation, or are applying later in life. In these situations, some people consider alternative types of cover that are easier to obtain, although they usually provide more limited protection.
Accidental Death Insurance
It is important to note that accidental death insurance is different from life cover. Accidental death insurance usually only pays a benefit if death occurs as a result of an accident and does not typically cover death caused by illness or disease.
Funeral insurance
Funeral insurance is designed to cover the cost of funeral and related final expenses. It typically offers smaller benefit amounts and may have simpler application processes. Some people choose funeral insurance when they only want cover for end-of-life costs or are unable to access full life insurance.
Frequently Asked Questions and Answers
How long does life insurance last?
Life insurance usually runs until you reach a specified expiry age of the policy however you can cancel the cover earlier if required. Some policies are designed to provide long-term cover, while others are intended to protect you during key working years. The length of cover you select should reflect how long your financial responsibilities are likely to last.Can you change your policy after you buy it?
Many life insurance policies allow you to make changes after purchase, such as increasing or reducing your level of cover or adding optional features. These changes can affect your premiums and may require further assessment by the insurer. Some policies also allow increases after certain life events without full reassessment.What happens if you stop paying your premiums?
If you stop paying your premiums, your policy may lapse and your cover will usually end. Most insurers provide a short grace period to allow missed payments to be made before cancelling the policy. Once a policy has lapsed, you may need to reapply through a reinstatement application process (within a limited period of time) or to apply for a new policy if the period of reinstatement has passed if you would like cover in place again.Is life insurance tax deductible?
Life insurance premiums are generally not tax deductible because they relate to personal protection rather than income generation. In contrast, income protection premiums may be tax deductible in some cases because they are linked to replacing lost income. Tax treatment can vary based on how the policy is structured and where it is held.Can you have more than one life insurance policy?
It is possible to hold more than one life insurance policy at the same time. Some people choose this to combine cover held through superannuation with a personally owned policy. Insurers may assess your total level of cover to ensure it is reasonable in relation to your income and financial situation.
Get an instant Life Insurance quote
Or call us on:
I was born on the 30th September 1968. What will my premium be and how much is the claiming cost?
Hi Jan.
We need a bit more information to provide you with a quote and to help you find a policy suited to your requirements and budget. Kindly complete the form at the top of this page or give us a call on 1300 135 205.
I am a diabetic for 20 yrs, have angina heart & hypertension. My age 56yrs. How much will life cover cost me now for 1 million Rands? Prepared to go for any medicals. I am a smoker for 30yrs to current and a seldom drinker.
Hi Ashwin.
We only compare Australian life insurance policies. If you’re in Australia you can request a quote by completing the form at the top of this page or call us directly on 1300 135 205. Please have a read of our article regarding life insurance for diabetics.
I want insurance for me and my partner.
Hi Patrick.
To provide you with a quote, I need some information, including the cover amount you want, your age, smoking status and the state you live in. You can generate a quote online by completing the form at the top of this page or alternatively give us a call on 1300 135 205.
Hi there, how do I see my policy?
Hello Julie.
From your email address, it doesn’t seem that you have a policy with us. However, please give us a call on 1300 135 205 and provide us with your full details and policy number and we’ll have a look.
What happens when you outlive your term life insurance? Do you get money back? I’ve been paying in for 30 years, it’s about to expire and I don’t intend to reinsure.
Hello Dee.
Generally, term life insurance policies expire at age 99, depending on your policy type and insurer. Be sure to check your product disclosure statement (PDS) to confirm the expiry date. When your policy expires, you do not get money back as it has no cash-value component. If you have any questions or concerns please give us a call on 1300 135 205.
Hi. My wife applied for additional life cover through her super fund as we are building a new house and have an 8-year-old son.
She only has the standard cover of around 150k. She applied for an additional 250K but was rejected because of her mental health history, which is successfully managed by her GP.
I feel that her only way of getting additional death cover is to open a new super fund with the additional standard cover. Is this her only option?
Regards Wayne
Hi Wayne. Thanks for reaching out.
Rest assured, your wife definitely has more options. There are 3 main ways you can buy life insurance:
1. Retail: Buying life insurance through a broker or comparison website, like Life Insurance Direct.
2. Direct: Purchasing death cover straight from the insurer.
3. Group: Life insurance through your superannuation or employer.
Regrading life insurance being declined because of your wife’s metal health history, please know that each insurer has different underwriting guidelines. While one may decline or exclude cover, another might offer standard rates or request that she pay a higher premium.
To find the right cover at the best price, it’s always wise to shop around and compare policies from a variety of insurance companies. Please fill in the quote form above and we’ll compare some of Australia’s leading life insurance companies to help your wife find what she’s looking for.
If you prefer to talk with a specialist right away, kindly give us a call on 1300 135 205.
If I decide to cancel my cover can I get a proportion refunded to me?
Hi Julia,
If you paid your premiums annually, you’ll usually get a pro-rata refund. For example, if you cancel your policy after 6 months, you’ll generally get 50% of your premiums paid back.
However, if you pay premiums monthly and cancel your life insurance policy after the usual 30-day cooling off period, you will generally not receive a refund because term life insurance policies have no cash-value component.
If you’re thinking of cancelling your policy because you want to switch to another insurer, please note that you would want to ensure the new policy is active before you cancel your existing policy.
I would like a quote on a level premium, for a one million dollars life insurance policy.
Hello John.
Thanks for reaching out.
Although you have not specified your age or the state you live in, the below shows the 5 cheapest level premium options for a $1 million life insurance policy, based on a 35-year-old, non-smoking, male living in NSW as of April 2018.
• TAL Accelerated Protection with Health Sense: $76.11 per month.
• Asteron Life Complete with Healthy Life Option: $80.49 per month.
• AIA Priority Protection Vitality: $81.90 per month.
• Zurich Wealth Protection: $82.05 per month.
• ClearView Life Solutions: $84.95 per month.
For a more detailed quote based on your personal requirements, kindly fill in the form above or give us a call on 1300 135 205.
I have AMP insurance cover which costs me roughly $2000 a year. I was informed recently that it is unlikely that it covers major illnesses like cancer. Is this true?
Hi Mick
Thanks for your question.
Please be aware that there is a lot of misconception on what or will or will not be covered. To help you with your query we will need a bit more information. For example, what cover type do you have with AMP: Life cover, trauma insurance, TPD or income protection.
Your cover type generally determines what is what is not covered. AMP Elevate Trauma Insurance, for example, pays out a lump sum amount if you suffer one of the serious illnesses or injuries as defined in their product disclosure statement (PDS).
Life insurance from AMP, on the other hand, pays out a lump sum in the event of your death or diagnosis of a terminal illness, which a medical practitioner has certified will likely result in your death within 12 months.
If you need some help navigating the ins and out of your insurance policy, please feel free to reach out by filling in the quote form above or calling us on 1300 135 205.
I have a life insurance policy with your company, however, I don’t have the policy details available. Can you help me as I need to change details?
Hi Anthony,
I did a quick search and it doesn’t look like you are a customer of ours, however, I might be mistaken.
If you would be so kind as to call us on 1300 135 205 and provide us with your policy number or phone number, we can double check and make sure.
Thank you.
Hi I am an Australian Citizen but currently reside overseas can I still be covered under the policy?
Hi Anthony
The policies we offer provide worldwide cover 24/7 cover, however in saying that they may restrict the policy if at the time of application you are planning on visiting or residing in a high risk country.
If you have a current policy in place I am happy for one of the team to confirm if this is the case for your particular policy or if you are currently residing overseas and need cover please contact us.
Hi,
I’m interested in life insurance cover. I understand it covers in the event of my death , but it says it also covers in the event of a terminal illness diagnosis. Which are these illnesses and how does it differ to TPD & Trauma? What are the differences in costs and why?
Thanks in advance.
Regards
Costa
Hi Costa
Yes, having terminal illness covered in a life insurance policy is fairly standard these days. While the terms and conditions differ according to the relevant policy, generally policies will pay the life cover lump sum benefit in advance if you are diagnosed by two independent doctors who confirm that you will pass away in under 12 months. Therefore it would be very unlikely that you would survive past this point. This definition generally covers all medical conditions that give rise to the terminal illness, but here again you would need to check the relevant PDS.
TPD and trauma cover are different in a sense as these provide a lump sum on the general proviso that you will survive. With TPD cover it pays a lump sum on you being made totally and permanently disabled whereas with trauma insurance it pays a lump sum on the diagnosis of a critical illness as defined in the policy. You can see a detailed comparison in our TPD vs Trauma Insurance guide. If you have any further questions please feel free to reach out to us on 1300135205.
I am 53 years old, in great health, work as a tennis coach. I am currently with Mercer for death and disability and it is extremely expensive. Can you tell me the best monthly payment on my current death and disability amount of $350,000
Hi Peter
There are a few other variables we need for the quote. However here is a quote for a 53 year old non-smoker based in NSW, for $350,000 life combined with Any Occupation Total and permanent disablement cover paid through your superfund (any super fund). $2,736 / year or $244.95 / month based on the above.
Please note if you would like a detailed comparison quote based on your exact details please reach out to the team on 1300 135 205. We also have a Lowest Price Guarantee.
Need quotes for life, Income and trauma
CAll me on 0400*****4
Hi Charlie
I have booked one of our specialists to call you first thing in the morning.
Cheers
Russell
I would like a quote for my husband. He is 58 and a smoker. I would like about 200,000 cover. Thank you.
Thanks for contacting us Cath. We are happy to assist you. As we compare up to 11 x Life Insurers in the market we can provide a range of options and quotes for your husband. Easiest way is to contact one of our Life Insurance Specialists on 1300 135 205 and we can discuss this with you and also answer any questions you may have at the same time. Thank You
I am about to retire.
My retirement pension will provide generously for my spouse in the event of my death.
However, if both my spouse and I die within the next 10 or so years, the pension will not have paid out its capital value and there is no provision for the residual capital value to pass to my 3 children.
I wish to know whether it is possible to purchase insurance coverage so that in the specific event of both me and my spouse dying before, say, 2030 my children will receive a payout. After that time, insurance is not required as the capital value of the pension will have been realised and our estate will be able to provide bequests.
I am a 57 year old male and a non-smoker.
My spouse is a 56 year old female and a non-smoker.
I stress my interest is in purchasing insurance coverage only in the event of both our deaths. The policy would not pay out if neither or only one of us died before 2030.
If this type of insurance is possible, what premiums would be required to fund coverage of $500,000?
Thanks for your great question Cecil. It is certainly an interesting one. I understand the points you make in terms of your ‘RCV’ and the time frames you have mentioned along with the fact that your interest is purely in a policy that covers you and your spouse if you were to pass away together. First of all it should be mentioned that it is possible to obtain a Fixed Term Contract Life Insurance Policy in Australia but there is no advantage in receiving reduced premiums on these types of policies compared to a policy that covers you to age 99 and that is also an Individual Life Policy so the regard that you both must pass away together is also not factored. Fixed Term Life Insurance Policies can also be issued for medically underwritten reasons by Life Insurers as it is uncommon for people to request them otherwise as there is no discount to be gained as I mentioned. You might say then if you sought a Life Insurance Cover for you and your spouse based on the nature of your question, you would then possibly look to cancel the cover when it is no longer required for your circumstances. By all means if you would like to discuss this with one of our specialists and obtain a quote please call us on 1300 135 205 and we can assist. Thank You
Can you draw money out of your life insurance?
When I took out the policy in the 80’s the person who referred me said I could re-draw money for a car or holiday after 5 years after starting the policy? Thanks
Hi Gary and thank you for your question. The policy that I suspect you are referring to is known as a ‘Whole of Life’ policy. If your policy is as such it is likely possible that you could do a part withdrawal of funds up to the accumulated cash value of the policy. This can be tax free up to the amount of premiums you have currently paid to date. You could contact your Insurer and confirm the policy value with them. If appropriate you will also need to consider the implications of a part withdrawal in terms of your family situation and any potential payout on this policy in the future.
Hi, I am 50 years old – female 140 kg, can I get Life Insurance?
Hi Tracey, Thanks for making contact with us. When looking at Life Insurance, the Insurers will consider your BMI (Body Mass Index) and any other pre-existing medical conditions. You are welcome to contact us on 1300 135 205 and one of our Life Insurance Specialists can undertake a pre-assessment with the 11 x Insurers that we work with to provide some potential options for you. There is no charge for this service. Thank You
Hi
I’m trying to group of insurances for me and my wife which are
Life/ TPD x2 with our SMSF
Then out of pocket insurances are as follows
TPD x2
Trauma x2
Income protection x2
Kid Trauma for our two kids
Hi David and thanks for contacting us. We are the experts when it comes to setting up these Insurances within your SMSF.
With the details you have provided there is a structure which I will outline below which may suit your needs in your situation for you and your wife. This generally is how the TPD is structured inside and outside of your SMSF.
Firstly, the policies can be flexi-linked which allows you to take advantage of combined savings by having multiple policies. Therefore, you can look at having the entire TPD outside of your SMSF if you are looking at the ‘Own Occupation’ Cover or you could structure a split of ‘Any Occupation’ within the SMSF and the other component of ‘Own Occupation’ outside the SMSF. As you have indicated you would like the Trauma Cover outside as this cannot be held inside a SMSF and by also having Income Protection and Child Cover with the Flexi-Linking method you are maximising your potential savings on premiums. Keep in mind that with flexi-linking your TPD and Trauma to the Life Cover held within the SMSF, if you were to claim on either the TPD or the Trauma, this would cause the Life Insurance Sum Insured to decrease by the corresponding amount.
You are most welcome to talk through your requirements with one of our Life Insurance Specialists on 1300 135 205 who can assist you with your structures and likewise we compare 11 x Life Insurers in the Australian Market so we can provide you the information that suits you based on either the most suitable features and benefits or the most competitive premiums.
Hi, I am a previous Life Insurance Direct client and would like a quote on how much is fortnightly payments for $500,000? Thank You
Thanks for making contact Lisa. There are many factors that apply when providing a quote for Life Insurance such as your age, smoking status, current health issues (if any), pastimes and financial situation. Also there can be a difference if you choose to pay your premiums annually, monthly or from your Superannuation Fund. However, we would like to help you and we also compare up to 11 x Life Insurance Providers in the Australian Market so you are welcome to make contact with us on 1300 135 205 and one of our Life Insurance Specialists can assist you.
My father was born in 1943, 18th of December.
Hi Rula, Could you please make contact with our offices on 1300 135 205 or 02 9929 7355 so we can help you a little more specifically around your requirements for your father. One of our Life Insurance Specialists can look at the levels of cover that would suit your father’s needs as we also compare 11 x Life Insurance Companies in the Australian Market to provide you with choice in this regard. Thank You
How much is Life Insurance for my wife who is 62 and I am 58? We are both looking for $200,000 and we are both non-smokers. Thanks
Thanks for contacting us John. We can certainly help you and your wife with those levels of cover. In house we compare up to 12 x Life Insurance Providers in the Advised Retail Market. You may also be interested in looking at our Quote Index which compares 32 different products across 3 x market segments and is very easy to use. This will give you an approximate of the cost of the cover for you and your wife. Please call us on 1300 135 205 and one of our Life Insurance Specialists can easily help you with your requirements and answer your questions.
I am trying to get Life Insurance. Can you help?
Hi Debra, Thanks for reaching out. Do you mind if I ask if your difficulties in obtaining life insurance are due to a medical issue / concern or the fact that the companies you are contacting for this cover are making it difficult? We specialize in helping people with medical issues who are looking at getting Life Insurance and it is easy for one of our Specialists to conduct a pre-assessment with the 12 x Life Insurance Companies we compare to provide you with some options. You can contact us on 1300 135 205. Thanks
Hi,
I have been HIV positive for 3 years now, and I am on a very successful treatment. My Doctor has assured me that in today’s day and age people with HIV don’t die anymore and I will live a normal life span. So I am looking to start a family and wanting a death policy in case I was to die from an accident or a separate illness from HIV.
Is it possible to get a policy and just exclude HIV from the policy, but be covered for everything else?
Thank You for contacting us Michael regarding your Life Insurance Enquiry. From talking to Underwriters it would seem you could get cover but it is subject to your individual circumstances and keep in mind all Insurers are different. However, here is some information that will assist:
-If your application was successful on a fully underwritten application – it would be full cover ie .. HIV related death / terminal illness would be covered.
-Your policy may be granted on terms that the cover will cease in 10-15 years from policy commencement date for example.
-The Insurer will want to know how the HIV was acquired and approximate date and current ART treatment. They will also request your CD4 Count & Viral Load.
-Typically you would be looking at a loading on your premiums also.
You are welcome to contact us on 1300 135 205 and one of our Life Insurance Specialists can undertake a pre-assessment with the Life Insurers to provide you with some available options.
I am a Malaysian but I have a business in Australia can I look at taking out Income Protection or Life Insurance?
Thanks for contacting us Jayas and this is an interesting question. Firstly, you must remember that the Life Insurance Companies in Australia are generally looking at insuring Australian Citizens, Permanent Residents or people looking to permanently reside in Australia. For example they may consider a non-resident on the basis that they will be applying for residency within a certain time frame and therefore for the policy to be valid they must have applied for and received permanent residency by a certain date in the future otherwise a claim could be totally invalid or dismissed. This would be indicated on the Policy Schedule issued by the Life Insurer on a confirmed in-force policy. Under a Duty of Disclosure at application time the Insurer is going to ask questions regarding countries visited and frequency also. It is important to highlight that there are significant differences between Life Insurance and Income Protection. There will be significantly more stringent requirements with Income Protection asked by the Insurer due to the fact that a claim on Income Protection is more likely than Life Insurance. This page on our website regarding Australian Expats may or may not apply to you but may give you some more information. You are also welcome to contact us on +61 2 9929 7355 and one of our Life Insurance Specialists can obtain your details to check on your eligibility.
Hi team,
I am currently based out in Dubai, UAE. Need a life insurance of 1+million for myself 39 years and wife 33 years old, we are under 40 and will be residing here for some time.
Non smoker and a very healthy life style.
Thanks
Nathan
Hi Nathan, Thanks for making contact. We would require some more information to help you but we certainly can. We have some important information here for ‘Australian Expats Living Overseas’ which is worth reading in your situation. If you are able to make contact with our offices on +61 2 9929 7355 between 9am – 5.30pm (Sydney Time) we would just require initially some brief information at first to be able to help you and your wife. We specialize in these types of situations and we welcome the opportunity to assist you.
1. Fixed life cover.
2. Quotation for $100,000 and $200,000.
3. Payment mode monthly
The best way for you to get a quote for the cover you are looking for is to complete the above online quote request form, this will allow us to prepare a detailed quote for you based on what you require.
One of our specialist consultants will call you and discuss what options are available for you to consider. You also mention “fixed” life cover, do you mean you want the premiums fixed or the level of cover. Please confirm this when you talk to our team & they will prepare your detailed quotes for the scenarios you would like to consider.
Dear
I am writing to make an enquiry of an insurance product which covers severe illness and death.
I am an Australian citizen currently reside overseas but will relocate to Sydney in 1-2 years.
Hi Angela
The Life Insurance policies we currently have available will cover you for any type of death (excluding suicide in the first 13 months), and will pay out in advance if you are diagnosed with a terminal illness with less than 6 -12 months to live.
If you are looking to cover severe illnesses that are not terminal then you may want to consider taking out a combined life and trauma / critical illness policy by doing this you can add coverage for a list of 40 – 60 critical illnesses as defined in the relevant policy selected. If you then have a sickness (critical condition) as defined in the policy you will be paid a lump sum. I would also suggest considering “Plus” polices while these are slightly more expensive they generally offer greater coverage as they cover lessor degrees of critical illnesses and the major ones found in the “Standard” policy equivalent. Please note all trauma insurance policies have a 90 day qualifying period.
Another option for consideration is income protection which provides a monthly benefit of up to 75% of your income (as opposed to a lump sum) should you suffer from a sickness or accident and be off work for longer than the waiting period.
Lastly as you are an Australian citizen currently living overseas, I would also recommend reading this article, if you would like further assistance please contact our office.
I am 73, have no existing medical condition, am relatively fit, my mother died when she was 88, and my father when he was 98.
Hi Ross, Thank You for the details you provided. Please contact us on 1300 135 205 so we can help you further with your enquiry. We look forward to assisting you.
Both my partner & I run a small business and have an insurance policy with
AIG to cover the business debts in case or when one of us pass away.
We are only looking at about 150,000.00 NOTHING MORE. What can you offer.
Please e-mail do not call on mobile. Thank You. Marie Chasle.
Hi Marie
Thank you for your enquiry, to provide you with an accurate quote we will
need to know your, age, smoking status, state of residence and a few other
things. However if you would just like a quick online life insurance quote
https: //www.lifeinsurancedirect.com.au/quote-index/our quote index is
the perfect resource where you can easily compare 24 policies premiums
online.
If you would like us to run a personal comparison, please get in touch.
Russell Cain
I want to pay life insurance for my son who is 20. He is not smoker. He is in good health. How much do I have to pay for him, monthly or fortnightly?
Hi Cornel,
Considering insurance for your son is a great initiative as younger people often don’t until they get older, however by then their premiums have substantially increased and they may have had a number of medical conditions and therefore find it harder to get cover. If you are looking for long term affordability you may want to consider level premiums as they are more affordable in the long run as premiums are based on entry age to the policy not your age at your policy renewal. To enable us to provide you with a detailed comparison between level & stepped premiums please complete the above quote request form with your sons details and your contact number and we will tailor a report for you based on what you are looking for.
Sincerely,
Russell Cain
Hi, I am 60 yrs old & my wife 51. We have life insurance coverage but we are pretty worried about the future of life insurance coverage. From our many older friends, most of them did had life insurance cover before but the problem was, they said that the premium got so ridiculously high that it’s impossible to continue paying and that’s the sad part because that’s when they do need life insurance more. So to us, we are not sure whether we should bother to continue with our life insurance, as end of the day, we may be like them giving up altogether (assuming that we do live to a normal old age of say, 75-80yrs). Your advice would be greatly appreciated. Thank you. Kind regards, Roland
Hi Roland this is a very common question and I am glad you have asked it.
There are a few main ways to manage long term premium affordability firstly you may want to consider level premiums these premiums start off higher however do not go up due to a change in your age as they are based on your entry age into the policy (However they will increase if there is a rate rise or increase in sum insured). You can now get level premiums on life cover up to the age of 70, after this time they revert back to stepped premiums. The second option is hybrid or optimal premiums these start off as a stepped style policy then convert to a “level style premium” up to age 60/70. Generally these cumulative premiums are higher than if you had originally taken out level premiums however will be less than stepped premiums, that start off cheapest but increase each year as you get older. However if these alternative premiums types are not appropriate you may want to consider a stepped premium policy that has the premium freeze feature where the premiums stays consistent however each year your sum insured reduces to keep your premiums the same. This can be good for people who are happy to have their cover reduce each year, while maintaining the premium within the relevant budget. Please note this feature may not be available for you, however may be for your wife as the max entry age for this feature is generally age 55 but best to check with your insurer to be certain. Lastly you can review the sum insured each year when you get your renewal notice and reduce your cover accordingly to keep your premiums within your budget.
Please note this response is general in nature as I don’t know your personal situation, however if you would like further assistance please contact us.
Sincerely,
Russell Cain
I have life insurance with a insurance company all they would cover me for is accidental death as i have ms. Ive been trying to find a policy to cover me for death when ever i pass or however not just accidentally
Hello Darby,
I am so glad you’ve asked this question, as there have been other visitors experiencing the same problems you’ve described.
Due to the increase in questions regarding MS and Life Insurance, we have escalated your question and written a guide for people looking for life insurance who have multiple sclerosis. Please have a read and let me know if I can be of any further assistance.
Sincerely,
Russell Cain
Need a quote for life insurance for my husband $200,000-$300,000 born 2/10/43
Hi,
Thank you for your request. Please fill in your details on our request form above and a specialist consultant will call you to prepare a detailed report as soon as possible. Alternatively, if you would like to compare life insurance quotes before speaking to a consultant, I suggest trying our online life insurance quote index. It’s quick, easy and convenient.
If you require any additional information, please do not hesitate to ask. We are here to help you.
Sincerely,
Russell Cain
Can I get a quote for life insurance for me and my partner ages 29(me) 30(partner) non smokers one daughter.
Hi Elaine,
Thanks so much for your inquiry. I appreciate you taking the initiative. Please refer to our couples & families page which explains some of the discounts on offer which can be up to 10% off the premiums for couple’s who take out cover with the same insurer & there are a few tips on how you may be able to qualify for free child cover for your daughter. I would then suggest including your details on the quote request form & a specialist consultant will give you a call you discuss further. Alternatively, you can use our Quote Index to compare premiums online.
Thank you for giving me the opportunity to assist you with this important decision. At the end of the day, we all just want to know our loved ones are taken care of.
Sincerely,
Russell Cain
Hi Team
I like life insurance quote. I can afford to pay approx $150 p/mnth. Ideally interested in cover between $300k-$500k.
Please provide me some quotes by Sunday. So that I can think it over on weekend & make decision by Monday.
Thanks
Md. Moiz Uddin Khan
Hi Moiz
Thanks for your inquiry.
We would be happy to provide you with a life for life insurance however we just need a few more details so we can give you a more accurate quote.
Please go to the quote form at the top of the page https://www.lifeinsurancedirect.com.au/life-insurance/ and submit your details and one of our consultants will send you a quote.
If you have any further questions please don’t hesitate to ask