What is life insurance

In case of accident, serious illness or death, life insurance provides financial support to protect your lifestyle or your family's lifestyle.

Many people think about life insurance only when you die; However, there are many types of life insurance that supports you if you suffer from an injury or illness that you are unable to work permanently, or for a period.

Can change life. If you or your spouse has become seriously ill and can't work, how will your family face financially?

Unable to work as a result of accidents or poor health, you or your family can expose financial difficulties. Insurance can provide you with the money you need in this crucial time.

Benefits, provide life insurance

When people think about life insurance, it is definitely an important place for it in financial planning.

In fact, without the protection of life insurance coverage, loved ones may need to change their lifestyle, if unexpected.
If you were not suddenly to take care of your family:
Can they keep up with a mortgage or they have to sell the house?

Is there enough cash in the bank to pay for the funeral?

How will they pay for groceries, bills and school costs?

If your home spouse died, do you earn enough money to employ a goat?

Can your spouse or children survive the benefit of the government? You want them to do?

There are many benefits of life insurance:
It gives you rest and peace of mind that you and your family will be supported

It will change your pay and protect your property if anything should be unplanned

It will continue to pay the bills to you and your family and without any loan or debt issue

It will cover any immediate economic requirements
It will provide the future for your family

Types of life insurance

Different types of life insurance are available. This includes: Death Cover - pays money when you die. Money will go to those who nominate you as a beneficiary of your policy.
Total and permanent disability (TPD) TPD Often sold with life cover.
Income Protection Cover - If you are unable to work due to injury or illness, some of your income replaces.
Trauma Cover - Pays a single amount if you are diagnosed with serious illness or serious injuries such as cancer, heart attack or stroke.
Consumer Credit Insurance (CCI) - Pays a single amount to cover payments on your loan that you can't pay when you lose your job, you are sick or wounded or you will die.
Funeral Insurance - When you die, your family pays a single amount to help cover the funeral and related costs.
Covers of accidental death and injury - pays a single amount when a person accidentally dies or is injured. Most accidental death policies include a long list of hazardous activities, drugs, alcohol and death from self-loss.

Which sales channel are you comparing?

This tool allows you to compare life insurance claims where the policy has been received: by a supermunition fund - this is when the default lt -life insurance cover is provided by a supermission fund or the amount of the cover is increased. See life insurance through your super fund.
By Financial Advisor - This is when a financial consultant recommends a life insurance product that one can or may not be offered in a supermunition fund. See financial advice.
By direct insurer - this is when life insurance is purchased directly from the policy Lisy, without any personal economic advice or general advice.

These are the three most common ways that are sold in life insurance Australia Strallia. Some employers also provide group life insurance to their employees where a contract covers all employees. See APRA's Life Insurance Data Collection for more information on Group Life Insurance.

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