What is Term Life Insurance?

Although we'd all like to think we're bullet proof, deep down, we know that we won't live forever. And while we can take steps to add precious years to our lives (eg eating well, exercise, driving safely, regular medical checks), we know that our time will eventually come.

Term Life Insurance is the best way to protect your loved ones and your property when you are gone. Despite all the jargon and long-winded small print, term life insurance is simple to understand:

Following the death or terminal illness of a Life Insurance policy holder, beneficiaries receive a lump-sum payment. The amount of payment depends on the amount the policy holder was insured for.

Superannuation Life Insurance

Many Australians have life insurance, whether they know it or not, through compulsory employee superannuation. Most superannuation funds offer life insurance as part of the standard policy.

What many people don't realise is that the amount of cover provided by these policies is unlikely to provide for the financial needs of beneficiaries. If you were to take a look at your super life cover, you might find you are covered for $80,000 or – if you're lucky - $120,000. Coverage typically ranges between $60,000 and $160,000, depending on your age and occupation.

Sound ok?

Think about the impact on your family and loved ones if you weren't around anymore. Obviously, there are the initial expenses relating to funerals. But then there's the ongoing stress you leave behind: paying off your house, credit and other debts, funding the education and upbringing of children. How much money would your family really need to be able to maintain their lifestyle?

Suddenly, your superannuation insurance looks a bit thin!

Term Life Insurance

Term Life Insurance is the most common life insurance in Australia. It secures the financial security of beneficiaries and removes worry at an otherwise stressful time. By discussing your specific circumstances with a qualified insurance professional, you can be sure that you get the right policy. If money is tight, insuring through your superannuation can be a way of getting cover for you and your family without reducing your disposable income. Let us show you how.

Fill out the 1300 Life Insurance quote form or give us a call and we will be in touch to discuss your term life insurance needs. With many Australians chronically under-insured, now is the right time to consider life insurance cover that takes the future into account.

will be in touch to discuss your key person insurance needs. If organisational success depends on the activities of important individuals in your business, key person insurance is cover that takes the future into account.