We’ve partnered with Compare Club to bring you a range of life insurance policies to help you compare them side by side.
When comparing life insurance policies, it’s important to look for the best one for you and your family’s needs, whether that be in relation to its inclusions, coverage or other conditions. However, with so many options on the market, it isn’t always a simple process to work out what that may be.
You can compare a range of competitive life insurance quotes with Savvy from a panel of reputable companies. Consider offers side-by-side before you buy to help determine which is the best for your needs among our listed providers. Get started with Savvy today by filling out an easy, no-obligation quote.
Working out which life insurance policy is best for you may seem tricky, but there are ways to help you find the right product for you and your family. Doing the following may help you narrow down your choices:
The best life insurance will depend on you and your preferences, as each individual is different in terms of the coverage they need. The different types of life insurance to consider are:
When it comes to finding out which term life insurance policy is best for you, these are some of the benefits to look which may help set the best policies apart from the rest:
Life cover can pay a nominated beneficiary a lump sum if you’re diagnosed with a terminal illness or pass away. This type of insurance can provide your immediate family or another loved one some financial assistance to cover funerals, medical costs and day-to-day expenses.
If you’re injured or too sick to work for an extended period, income protection insurance is designed to help you focus on your recovery. You can be covered for up to 70% of your usual wage for a chosen period, such as five years or up to age 65, depending on the level of coverage you buy.
This type of insurance is designed to offer cover to those who are permanently disabled by injury or illness and are no longer able to work. You can choose to take out cover for an inability to work in your current job or in any role suited to your qualifications.
Trauma insurance is a type of policy which provides you with a lump sum payment in the event of a critical illness or major accident. The conditions eligible for claims will be outlined in your insurer's PDS, but can include cancer, heart disease, severe head trauma and cardiovascular disorders.
No matter what type of life insurance you choose, it’s important to see whether there’s cover for the illnesses, injuries or death situations you wish to be included under your agreement. This will help you determine which offers are more suitable for you compared to others which may not provide protection in the areas you’re looking for.
How much you own, earn and save may change across your lifetime. For example, if you’re a single parent or provide for a family, it may be more important that your loved ones receive a larger insurance payout. This may be different for you if you have sufficient savings and are no longer depended upon to provide for your family.
Your debts still need to be paid, even if you pass away or become critically ill. With that in mind, you’ll need to work out the right amount to cover the repayment of these if the unexpected happens. These debts could include a mortgage or credit card payments.
If you’re raising a young family and suddenly pass away, your partner or spouse may still need to put your children through school and other extracurricular activities such as sport or music. They may also need money for their retirement if you’re no longer able to contribute to the household’s savings. These are all things you should consider when working out the cover you need.
The amount of cover you need or should take out may also be partly dictated by what sort of premium you can afford. The greater the insured sum, the more expensive your premiums may be. You’ll need to consider the cost of your premium in both the short and long-term regarding your budget.
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Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of life insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a life insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy does not compare all life insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by Compare Club or how their business works, you can read their Financial Services Guide.