Free Life Insurance Comparison
With over 10 years’ experience in helping Australians access the information they need to make confident decisions about their financial future, Lifebroker is an expert in life insurance.
With many options and companies to choose from, starting your journey towards financial protection can seem like a daunting task.
That's where Lifebroker comes in.
Lifebroker can help you compare 11 of Australia’s leading insurance providers quickly and easily. To help you start, the following life insurance information details the types of cover available, what benefits they provide, and what you should look for in the policy.
Life insurance pays a lump sum upon your death or upon the diagnosis of a terminal illness, to provide you with the peace of mind that your loved ones will be financially protected. This benefit can help pay any outstanding debts, such as a mortgage or credit card debts, as well as provide cover for ongoing costs of living, such as school fees or rent.
Some policies also provide extra benefits, including advance benefits to help cover funeral expenses and financial planning advice to help your family manage the lump sum amount at a difficult time.
Total and Permanent Disablement Insurance (TPD)
TPD can be taken as a stand-alone policy but it is more commonly taken as an extension to a Life Insurance policy. TPD insurance provides a lump sum payment if you become totally and permanently disabled.
Some policies also offer partial payments in case you become partially disabled. Others offer flexible definitions, so that you can receive coverage if you are never able to work in your own occupation again.
To learn more, read our Total and Permanent Disablement Insurance 101 factsheet. Try our Cover Calculator to see how much TPD cover you might need.
If you’re diagnosed with cancer or have a heart attack but are not terminally ill or permanently disabled, that's where your trauma policy can offer financial support. Trauma policies pay a lump sum in the event of a specified injury or illness. While the qualifying medical conditions vary greatly between policies, most include events such as loss of sight, strokes, and certain cancers. This is why it is essential to compare different policies to find the one that best eases your concerns.
Trauma insurance can be acquired by itself, or attached to a life insurance policy to maximise efficiency. There are different types of Trauma cover, ranging from basic cover to premium products. We quote the premium product as these types of policies offer a broader range of cover and benefits.
Income protection means that if you fall sick or are injured and cannot work for an extended period of time, you will still be able to meet financial commitments and support your lifestyle.
Most policies offer a monthly payment of up to 75% of your income, with flexible benefit and waiting periods. Some policies provide extra benefits, such as a claims escalation option, Day One Accident Benefit and a Business Expenses Benefit.
Income Protection can vary in cost significantly based upon the waiting period, benefit period, amount of income insured as well as your occupation. Income Protection premiums are also tax deductible.
This is designed to provide you with a lump sum payment if you pass away as well as an income replacement should you be unable to work due to injury or illness. In the past, some of these policies even included redundancy cover but only a few insurers can now offer this with a certain eligibility criteria. Contact us to compare the available mortgage protection policies for you.
Life Insurance Quotes
You can learn more or request a quote for the following types of a life insurance:
- For quotes on Life, TPD, Trauma and Income Protection at the one time.
- For quotes on Trauma cover for yourself and your children.
- Quotes for employers wanted to provide cover to their employees on a pooled cover basis.
- Quotes for businesses to protect against the loss of key employees.
The following will provide further information on life insurance and the cover available through Lifebroker: