Although most Australians are familiar with the concept of car or home insurance, many are confused about Life Insurance.

Life insurance comprises 4 key areas. These include Life Insurance, Total & Permanent Disability Insurance, Trauma Insurance and Income Protection Insurance. In a similar fashion to car or home insurance, Life Insurance acts to protect another highly valuable asset – you!

Life insurance policies may be paid for either monthly, quarterly or annually. Depending on the terms and agreements of your individual policy, the Insurance Company will provide you with either a lump sum or monthly income in the event of accident, sickness or death.

The cost of insurance premiums varies according to your level of risk and type of cover you wish to purchase. This means that factors such as your health, lifestyle and work circumstances are investigated and taken into consideration.

It’s worth noting that not all insurance companies assess one’s level of risk. In certain situations, insurance companies opt for what is known as a ‘Group Policy’ when insuring large numbers of people through Super or an employer. In this case, individual risk is not calculated, but rather spread across everyone in the group.

If you would like to find out the best life insurance policy for your situation - please submit the form on this page and one of our friendly advisers will help you with all the questions you might have about life insurance.