Life Insurance for Nurses

Compare life insurance for nurses through Savvy today.

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on July 19th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

life-insurance-banner-medical-nurse

We’ve partnered with Compare Club to bring you a range of life insurance policies to help you compare them side by side.

Nurses in Australia, as well as midwives and other medical workers, play a critical role in ensuring the health and wellbeing of your patients. However, the job can also come with its own set of risks, such as exposure to infectious diseases and long working hours. It's important to consider the financial impact of unexpected events such as illness, injury or death, which is why it's crucial to have the right life insurance coverage.

Savvy can help you compare a range of life insurance policies designed for nurses from trusted insurers in one place. You can compare policies based on their premiums, coverage, exclusions, waiting periods and additional benefits before making a decision. Get started with a free, no-obligation online quote through us today.

What are my life insurance options as a nurse in Australia?

There are several life insurance options available for nurses in Australia. These include:

  • Life cover: this type of policy (which is also known as term life insurance) provides coverage for a specified period or until you reach a certain age, such as 85. If you pass away or are diagnosed with a terminal illness, your covered amount can be paid out as a lump sum to your nominated beneficiaries.
  • Income protection insurance: this type of policy can provide nurses with coverage if they become temporarily unable to work due to injury or illness. You can receive a monthly benefit worth up to 70% of your income, which can last for up to five years or until you turn 65.
  • Total and permanent disability (TPD) insurance: this type of policy can provide coverage if you’re permanently disabled and unable to work. TPD cover can come in the form of Own Occupation or Any Occupation insurance, depending on the policy. Own Occupation cover may enable you to receive a payout if you’re unable to return to your previous work as a specialist nurse but still intend to work as a general medical professional.
  • Trauma insurance: trauma insurance can offer coverage for a range of critical illnesses and serious injuries, such as cancer or heart attack. The coverage you can take out is generally capped at $2 million.

Although these are available to all eligible buyers, some insurance companies may provide cover specific to nurses and doctors in the form of infectious or bloodborne diseases cover. This can offer a payout if you become infected with a covered infectious disease (such as HIV or Hepatitis B) at work and are either temporarily or permanently unable to continue your position.

It's important to consider each of these policies to help you determine what coverage best fits your specific needs. You can compare a range of offers in one place through Savvy. Simply fill out an online form to start the process through us today.

How should I compare life insurance policies as a nurse?

Life insurance is an important consideration for anyone, particularly those over 30. As a nurse, midwife or medical worker, you may have unique needs and circumstances to consider when comparing policies. Here are some key factors to keep in mind when choosing your life insurance policy:

  • Premiums: the cost of premiums can vary significantly between policies, so it's important to compare quotes from different insurers to help you find a policy which is affordable and fits your budget.
  • Coverage: it's essential to compare the coverage levels offered by different policies, including the types of events that are covered and the amount of coverage you can choose to take out. As a nurse, you may want to ensure that your policy covers any work-related injuries or illnesses.
  • Exclusions: some policies may exclude coverage for certain types of events or pre-existing conditions, so be sure to read the fine print to ensure you're getting the coverage you need and help avoid any unwanted surprises when making a claim.
  • Waiting periods: additionally, certain policies may have waiting periods before coverage kicks in, so it’s crucial to understand the terms of the agreement before signing up. This waiting period can vary from as little as two weeks up to two years, depending on the type of policy you buy.
  • Additional benefits: Some policies may offer additional benefits, such as advance payments to cover immediate death and burial costs.

As a nurse, you can compare a range of life insurance policies in one place from reputable insurance providers through Savvy. Simply fill out an online form to receive a variety of offers from a panel of leading insurers side-by-side instantly.

Types of life insurance

Why compare life insurance through Savvy?

Frequently asked questions about life insurance for nurses

Why is life insurance important for nurses to consider?

As a nurse, you’re exposed to risks in the workplace which may prevent you from working indefinitely in particularly bad cases. Having life insurance can add a layer of financial security for you and your family and bring peace of mind that you can receive funds to help out with potential medical costs, as well as other household costs such as bills and loan payments if you’re unable to work.

Is group life insurance available to nurses through employers?

There may be certain workplaces which offer life insurance cover to nurses as part of their employment package. You should check with your insurer if you’re unsure about whether you have an active life insurance policy.

How much will my life insurance policy cost?

The cost of your life insurance policy as a dentist, doctor or nurse will depend on a range of factors such as your age, health and nature of your work, as well as the type of policy you choose to buy. It's important to compare quotes from different insurers to find a policy which fits your budget.

How much coverage do I need under my life insurance policy as a nurse?

The amount of coverage you need under your life insurance policy as a nurse, as well as what the best life insurance policy for your needs is, will depend on your circumstances, such as your income, debts and family situation. If you’re unsure about how much coverage you may need, it may be worth speaking to a financial professional.

Helpful life insurance guides

Life Insurance Banner - Young couple choosing their life insurance policy on a tablet

Choosing Life Insurance

Find out more about the process of choosing and comparing life insurance policies with Savvy in our guide. Life insurance...

Life Insurance Banner - Couple smiling while looking at a tablet

Best Life Insurance

Compare life insurance with Savvy to help you find the best policy from a panel of trusted insurers. Compare quotes...

Life Insurance

What Is Life Insurance?

Find out what life insurance is and how it works with Savvy today before buying your policy. Life insurance is...

Life Insurance Banner - Young couple looking at different types of life insurance on a tablet

Types of Life Insurance

Find out more about the different types of policies available in Australia with Savvy today. Compare quotes now Instant quotes...

Life Insurance Banner - Parents playing with their children next to their parked car

Benefits of Life Insurance

Find out some of the key benefits of life insurance right here with Savvy. Taking out life insurance is a...

Life Insurance Banner - Elderly couple looking at life insurance policies on a laptop

Life Insurance Payouts

Find out more about how life insurance payouts work and who they can go to with Savvy. Receiving a payout...

Life insurance by your condition & profile

Compare life insurance options aligned to your medical condition and profile and receive no-obligation quotes from some of Australia's leading insurers.

Disclaimer:

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.