Life Insurance Guide

Life Insurance Guide          

Life Insurance policies can offer you the peace of mind that your family has the right level of cover to help ensure that they are protected should something unexpected happen to you.

Life insurance provides coverage for death and / or disability. Term Life Insurance provides death cover and Disability Insurance provides disability cover.

Term Life Insurance: if the insured passes away during the term of this insurance, the death benefit will be paid to their beneficiary or beneficiaries.

Disability Income Insurance: if the insured is disabled during the term of the insurance, benefits will be paid to the insured as a lump sum amount or as an income.

Life Insurance features that you may want to keep an eye out for are;

• Immediate cover - quotes can act as a cover note and provide immediate coverage and peace of mind.
  

• Lump sum payment - some policies allow the entire benefit to be paid out rather then an ongoing weekly or monthly payment.
  

• Quick and easy application process - the quoting and application process should be quick and easy. A quote can be generated immediately or provided within a short period.
  

• Discounts - some insurers will provide a discount if you take out a joint life insurance policy with your partner. Alternatively, discounts can be available if you take out a different type of insurance, such as home and contents insurance with the same insurer.
  

• No need for a medical - some policies do not require a formal health assessment.
  

• Simple and quick claim process - this will ensure that you and your family do not have to wait longer then necessary for a settlement.
  

• Flexibility - you can decide on the way and amount that your family would receive the settlement.

Life Insurance Guide