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Shopping for Life Insurance in Australia

Shopping for life insurance forces you to think about the unthinkable – how your family will survive financially after your death.  If you’re finding life insurance rates prohibitively high, or are having trouble getting insured, then it’s time to do some more serious thinking; namely, how your lifestyle is affecting how insurers perceive you.

Risky Business

It’s no secret that health insurance companies are skittish when it comes to insuring people with a history of health problems, or the infamous pre-existing condition, or that car insurers aren’t keen on insuring drivers with a track record of accidents and driving under the influence citations.  Many people do not realize, however, that life insurance companies are just as reluctant to insure those considered high-risk, and often for similar reasons that health insurance and car insurance use when weeding out undesirable customers.

For life insurance companies, the most desirable customer is the customer whose lifestyle makes him a great candidate for years of policy premiums – i.e. the customer who is not statistically likely to kick the bucket anytime soon.  So if you’re finding life insurance policies prohibitively expensive, or getting rejected for policies altogether, then your health and lifestyle choices are likely to blame.  The good news is, there may be something you can do about it.

Get Moving…

Insurers have a list of health conditions that automatically generate higher premiums, and among them are obesity and diabetes.  Fortunately, these are both conditions that you may be able to do something about.  If you’re significantly overweight, health insurers know that the result is likely heart disease, high blood pressure, and diabetes (more on that later), all of which shorten your lifespan.  Losing the extra weight is not only good for your health, it’s also great for getting a discount on your life insurance.  And if you’re a Type II diabetic, getting your weight under control may help to minimise the complications from your diabetes, which improves your health and your life insurance costs.

… But Don’t Move Too Fast (Or Too Deeply)

If you’re a born risk-taker, chances are good that you’re luck is going to run out eventually, and life insurers simply don’t want to take that chance.  Those who race cars, sky dive, deep sea dive, or cave dive are usually too much of a risk-taker for insurance companies.  In fact, if you count any of these adventurous hobbies among your interests, you may find that insurance companies will refuse to write you policies at all.  If getting life insurance is important to you, then you may need to rethink how you spend your spare time.

Your lifestyle affects how life insurance companies view you as a potential risk.  If you need life insurance, but find that companies are reluctant to write you a policy, or ask a exorbitant price, decide what’s in your power to change to make you seem like less of a risk.

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.'s online quote comparison tool makes it easy to get quotes from 10 Australia's biggest life insurers