When you first become a mother you start taking on a lot more responsibility. Now, on top of your mortgage, you’ve got increasing grocery bills and childcare fees on the way. Most importantly you want to protect your family, and be sure that if anything were to happen to you, they wouldn’t face these costs alone.
The harsh reality is that you can’t plan for everything, but you can be prepared. Life insurance is one of the best ways to protect your family and it includes far more than death cover. You can also insure yourself against partial and total disability, and purchase income protection to replace salary lost to injury.
Thankfully there’s an easy way to find cover that fits your budget, and it starts with this simple trick that could save you time and money. Comparing policies can help you find the cover you want to protect your family at a price you can afford.
Here’s How You Do It:
Step 1: Select your current age below.
Step 2: Once you answer a few questions, you will have the opportunity to compare quotes from up to 10 of Australia’s largest insurers. You may also be entitled to a free consultation.
Using LifeInsuranceComparison.com.au, you can compare multiple providers, features, and premiums without wasting any time. Our experienced advisers are on hand to talk you through your options and explain how the different types of cover work.
When shopping around for a policy, remember that good life cover isn’t generic; you should choose insurance with the features, benefits and conditions you want. Young families have a unique set of requirements, because you want to prepare for childcare fees and expensive medical treatments and have money left over for unexpected costs.
The good news is that for most people, the younger you are, the cheaper your premiums will be. Some policies will even allow you to lock in these low premiums all the way until you retire.
A 30 year-old female, non-smoking office worker can get $500,000 of cover for as low as $3.58 a week, or lock in a fixed premium of $5.38 that lasts until she’s 65. A 50 year-old in the same situation can see fixed premiums as high as $52.50 a week.
If you think you can’t afford the upfront costs of life insurance you can also choose to have your payments deducted from your super instead. This can take the strain of your cash flow, but keep in mind that if your policy is paid out, your sum insured will be subject to tax.
It’s true that many people have a level of life insurance through their super already, but the median level of cover is only enough to cover 61% of basic death costs*. But life insurance through super is flexible – many people aren’t aware that it’s actually possible to change and upgrade your cover all while keeping the same super fund.
Some policies also include an optional Family Protection Benefit for policyholders with children between 2 and 15 years of age. This benefit is paid out if you child suffers a ‘crisis event’ as defined by your insurer. This lump sum (a maximum of $200,000) can assist with costs in the event of a serious medical crisis.
Sound confusing? That’s why we started LifeInsuranceComparison.com.au. We think all Aussies deserve to be informed when they make this important decision. We want to put the power back in the hands of consumers and make it easy to find the best deal.
Since launching, thousands of Australians have already jumped on board. Over 40,000 Australians used LifeInsuranceComparison.com.au to compare life insurance this year, citing saving money as their number one reason for using the site.
LifeInsuranceComparison.com.au offers great service that can make a big difference to your family’s budget and peace of mind. Compare today to find out how much you could save on life cover.
*Australia’s Relentless Underinsurance Gap Report – Rice Warner
Get Started Now:
Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.