Queensland

Our online presence allows us to provide, fast, accurate and easy to understand quotes anywhere in Australia. In fact, over 18% of our clients from the past 12 months came from the sunshine state.

Queensland

This short guide on state specific information regarding Life Insurance will help you when you are comparing quotes:

  1. Stamp Duty
  2. Life Expectancy
  3. Life Cover Example Premium
  4. Trauma Cover Quote Example
  5. TPD Cover Example Quote
  6. Income Protection Premium Estimate

Stamp Duty

If you are a home owner, you may be familiar with stamp duty – a tax imposed by state governments for a variety of transactions, including Life Insurance. As it is a state based tax, it can differ between the various states and territories of Australia.

While it is generally included in the base premium amount, stamp duty may be an additional charge for other types of insurance products.

Cover Type Stamp Duty Included in Base Premium of Additional Charge
Life Cover (stand alone or linked)

5%

Included in Base Premium

Accidental Death (stand alone or linked)

5%

Additional Charge

TPD Cover (stand alone or linked)

7.5%

Additional Charge

Accidental TPD Cover (stand alone)

7.5%

Additional Charge

Trauma Cover (stand alone)

7.5%

Additional Charge

Child Cover

5%

Included in Base Premium

Life Expectancy

In 2001, the life expectancy at birth in QLD was 79.5 for males and 84.1 for females, with a median death age of 80.4.

In 2011, there were 27,414 recorded deaths in Australia, making up over 18% of all deaths in Australia.

QLD Population

Life Cover

Please note all premiums quotes below include stamp duty and policy fees

Gender Male Female
Age 30 30
Level of Cover $1,000,000 $1,000,000
Smoking Status Non-smoker Non-smoker
Home State

QLD

Premium Style Stepped Stepped
Monthly Premium Amount $46.48 $33.55

Trauma Cover

Gender Male Female
Age 30 30
Level of Cover $1,000,000 $1,000,000
Smoking Status Non-smoker Non-smoker
Home State

QLD

Premium Style Stepped Stepped
Monthly Premium Amount $108.30 $110.26

TPD Cover

Gender Male Female
Age 30 30
Level of Cover $2,000,000 $1,000,000
Smoking Status Non-smoker Non-smoker
Home State

QLD

TPD Definition Own Own
Occupation Accountant Accountant
Premium Style Stepped Stepped
Monthly Premium Amount $97.24 $97.24

Income Protection Cover

Gender Male Female
Age 30 30
Monthly Benefit $6,250 $1,000,000
Smoking Status Non-smoker Non-smoker
Home State

QLD

Premium Style Stepped Stepped
Insurance Type Indemnity Indemnity
Occupation Accountant Accountant
Waiting Period 30 Days 30 Days
Benefit Period To Age 65 To Age 65
Monthly Premium Amount $61.74 $91.85

Please note these are example quotes only and may not be indicative of actual premiums or cover available.

If you would like to discuss your options including the level of cover you may require Calculator. Call us today on 1300 135 205.

Source: Australian Bureau of Statistics 31 July 2013, ClearView Risk View 8 July 2013

Published: August 20, 2013

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