FAQs

Life insurance provides your chosen beneficiary with a one off financial payment should something happen to you. When applying for life insurance you will need to nominate an amount that you wish to be covered for. Joint policies are available to insure your partner as well. 

The level of cover you can get will depend on your age and also the insurer that you select to purchase you policy from.    As a guide, the minimum cover that you can apply for through our insurers is generally $100,000. 

In some cases yes. Some life insurance policies have what they call a 'funeral expense' benefit.  This benefit entitles your nominated beneficiary to be paid a certain amount from your life insurance benefit to help cover funeral costs whilst the claim is being processed. Funeral expense benefit varies in amount between life insurance policies.

You will need to check the policy details of the policy you are interested in purchasing, but as a guide, most policies available through this site will give you cover that will be maintained for you for life, as long as you ensure all of your premiums are paid.

Joint life cover is available through most of the policies available through this site, such as the Joint Plan from either Guardian or Real Insurance - these plans allow for both you and your partner to apply to be insured under the one policy.

Most life insurance policies have an option to add children's insurance (until your child reaches a certain age) in case your child was to suffer from an accidental death, or serious illness. You should check the insurers' PDS to see exactly what your child is covered for.

Your premium is determined by a number of factors, including your health, age, smoking status, gender and also the level of cover you select.

Premiums are recalculated annually on the anniversary date of the policy, and this calculation is based on your age at that time.    Premium rates cannot be guaranteed, however you will never be indvidually singled out for an increase.

When you purchase your policy you have a cooling off period, and so long as you cancel within this time you will get a full refund of the premium that you paid.    You may also cancel after the cooling off period, however you will only be eligible for a refund if you have chosen the annual payment option, and this amount will be equivalent to the unused portion of your payment.

Generally there are no tax benefits for making payments on life cover, however in most cases you should not need to pay any tax on the benefit that you receive. You do however need to consult your tax advisor.

You can apply to increase or decrease your level of cover at any stage.  This will be reflected in your premium payments.

Yes, most life insurance policies have a nominated beneficiary form that you can fill out, so you can tell the insurer who the money goes to when you die.