Most Aussies have some form of life insurance through their super, but the ‘base level’ of cover might not be enough to maintain the life you’ve built.
Despite having cover within their super, many people aren’t aware of what is actually covered by their super’s life insurance policy. This can mean in times of uncertainty or worse, they’re left confused and scared about what’s covered and what isn’t.
Life Insurance Comparison can help you find cover that meets your needs, so you can have peace of mind that you and your loved ones are protected adequately at a time of need.
One size doesn’t always fit all
Thousands of people have life cover included within their super funds known as group insurance and it’s typically a one-size-fits-all solution. This means that it might not meet your life needs in the future, which can leave you high and dry when you need support the most.
Policies funded through superannuation or group insurance have different conditions of release compared to a direct policy. This means that the super fund controls when funds are released based on their conditions of release instead of coverage outside your super through a direct policy which allows the policyowner, which is you, to be in charge of when funds are released.
Life changes all the time and if any of the below applies to you then you may want to check exactly what you’re covered for if:
- You’ve got a mortgage to pay off.
- You’ve got a family or other dependents who rely on you, financially.
- Your household is reliant on one income.
- You’re self-employed or contracting, meaning your finances would be hit hard if you became sick or were injured.
- You haven’t got a lot saved up for a rainy day.
That’s why it pays to get life insurance specific to your needs. Finding the right policy is as easy as speaking to one of our specialists and comparing what’s out there.
A policy to match your specific needs
If you don’t want to get a life insurance policy that’s paid out of pocket, our specialists at Life Insurance Comparison can still help by organising a retail life insurance policy, for the amount that you need, that you can fund through your super.
By taking control of what’s right for your life, you can rest easy knowing you’re keeping your loved ones financially secure in times of uncertainty.
Life Insurance Comparison takes the hassle out of finding the right life cover for you and your family. We compare policies from ten of Australia’s leading life insurers to help you find a plan that matches your needs – all in a matter of minutes.
What’s more, we may also be able to help you set up a more suitable policy funded through your super. Want to get life insurance that gives you what you actually need? Start comparing and switching with Life Insurance Comparison today.
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.com.au's online quote comparison tool makes it easy to get quotes from 9 Australia's biggest life insurers
This article is opinion only and should not be taken as financial advice. Our advice is general in nature, it does not take your specific needs or circumstances into consideration. You should read the relevant product disclosure statement (PDS) before making any financial decisions. It is important to read the entire PDS carefully to make sure you have the cover that suits your own needs.