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Life Insurance policies can offer you the peace of mind that your family
has the right level of cover to help ensure that they are protected should
something unexpected happen to you.
What would happen if your family's main income earner passed away, suffered
a critical injury / illness or was permanently unable to work due to sickness
or injury?
The above question is very scary for those of us that do not have life
insurance. Taking out a life insurance policy can provide your entire
family with the knowledge that such a catastrophic event will not also
lead to financial hardship. You and your family can have peace of mind
knowing that you will be protected and will have financial security if
the unexpected happens.
Life Insurance features that you may want to keep an eye out for are;
- Immediate cover - quotes can act as a cover note and provide
immediate coverage and peace of mind.
- Lump sum payment - some policies allow the entire benefit to
be paid out rather then an ongoing weekly or monthly payment.
- Quick and easy application process - the quoting and application
process should be quick and easy. A quote can be generated immediately
or provided within a short period.
- Discounts - some insurers will provide a discount if you take
out a joint life insurance policy with your partner. Alternatively,
discounts can be available if you take out a different type of insurance,
such as home and contents insurance with the same insurer.
- No need for a medical - some policies do not require a formal
health assessment.
- Simple and quick claim process - this will ensure that you
and your family do not have to wait longer then necessary for a settlement.
- Flexibility - you can decide on the way and amount that your
family would receive the settlement.
Keep in mind that life insurance policies have limitations, exclusions,
terms and conditions. It is therefore extremely important for you carefully
review the life insurance policy and understand what you are and are not
covered for before you sign the contract.
Please find a list of the most popular Life Insurance Companies below:
- Allianz Australia Life Insurance Ltd.
- American International Assurance Company Australia Ltd
- AMP Life Ltd.
- Asteron Life Ltd.
- BT Life Ltd.
- Challenger Life No 2 Ltd.
- Colonial Mutual Life Assurance Society Ltd.
- Combined Life Insurance Company of Australia Ltd
- Cuna Mutual Life Australia Ltd.
- General Reinsurance Life Australia Ltd
- Hallmark Life Insurance Company Ltd.
- Hannover Life Australasia Ltd
- H C F Life Insurance Company Pty Ltd.
- ING Life Ltd.
- IOOF Life Ltd
- Macquarie Life Ltd.
- MBF Life Ltd.
- MetLife Insurance Ltd.
- MLC Ltd.
- Munich Reinsurance Company of Australasia Ltd.
- National Mutual Life Association of Australasia Ltd.
- Norwich Union Life Australia Ltd.
- RGA Reinsurance Company of Australia Ltd.
- St Andrew's Life Insurance Pty Ltd
- St. George Life Ltd.
- Suncorp Life & Superannuation Ltd.
- Swiss Re Life & Health Australia Ltd.
- Tower Australia Ltd.
- Westpac Life Insurance Services Ltd.
- Zurich Australia Ltd.
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