One in five Australian parents will die or be unable to work due to illness, injury or disability before retirement age, yet many families are not prepared for this prospect and have no financial peace of mind if the worst were to happen.
For too long, safeguarding your financial future with life insurance was appeared to be an expensive endeavour. But this strategy is set to change all that, even for those who thought they couldn’t afford cover.
For those currently struggling to fit life insurance into their budget, it’s possible to pay for a policy of your choosing via deductions from your super fund. This often overlooked strategy may provide peace of mind without impacting your immediate cash flow.
When you select to pay this way, life insurance premiums are taken from your superannuation balance, meaning that cover may be affordable even to those on a tight household budget.
Consumers can usually purchase death cover, Total and Permanent Disability (TPD) cover and Income Protection insurance, but Critical Illness/Trauma insurance is not available through superannuation.
With premiums automatically being deducted from the fund balance, consumers do not have to worry about paying premiums on time.
Making the move to superannuation may be appropriate for consumers on a strict budget that would not otherwise be able to afford life insurance cover. This enables them to protect their family’s financial future if the policyholder were to pass away or be unable to work because of illness or injury.
All our policies are fully underwritten at the time of purchase. This process helps to ensure that our customers don’t purchase a policy that could be denied due to a pre-existing medical condition.
Rather than the stress of this process happening at the time of claim (a time that is already traumatic for the policy holder’s family), it is done at the time of purchase. This significantly increases the likelihood of the claim being paid out.
Our in-house life insurance specialists help to ensure our customer service experience is second to none. Over the years we’ve forged strong partnerships with our panel of insurers, meaning that our life insurance specialists can negotiate for better deals and receive faster service.
You even have the option to review your policy yearly to make sure it remains competitive, and if you have a claim, we’ll provide you with ongoing support.
If you’d like to review your options for affordable life insurance, you can continue below or give us a call us 1300 904 624, 9am to 6pm Monday-Friday. From there we will get to work, bringing you the best available quotes from our panel of insurers. See what you could save today.
Choose your area.
Which area are you in?
.com.au's online quote comparison tool makes it easy to get quotes from 9 Australia's biggest life insurers