Life Insurance Comparison in Australia
In simply terms, life insurance is a contract with a life insurance company where a policyholder pays a premium in exchange for an amount paid to his or her beneficiaries in the event of death or terminal illness. If you after more information about life insurance in Australia - read it here, but most of the time people would like to know how much life insurance they need and how much that life insurance cover would cost them. We are here to help you with both aspects...
Getting life insurance quotes has never been easier. Our life insurance calculator will act as a guide as to how much life insurance you need. Once you are happy with the level of cover you require, the next step is to compare life insurance from 12 major insurance companies in Australia. You will be asked to enter some very basic details including your age, height and weight which will assist us in determining how much your life insurance policy will cost per month.
Once you have requested life insurance quotes, one of our qualified experts will contact you by phone to confirm your details and provide you with a quote based on a life insurance comparison of the top 12 Australian life insurance companies.
How much Life Insurance do I need?
A common way of calculating how much life insurance you need is the replacement-income approach. The replacement income approach assumes that you are currently earning enough income to cover all your debts and aims to maintain that income level for a specified number of years should you die.
Using this methodology, we have created a very simple calculator to help you determine how much life insurance you require. The calculator assumes payments are required until you are 65. It also assumes a 2 percent inflation rate and that your family could make 5 per cent per annum on the life insurance payments they receive.