Life insurance for maturing families

Life insurance explained

Life insurance can help protect your family and the lifestyle you have worked hard to create for the ones you love. You can choose a policy and tailor it with optional cover to suit yours and your family's individual needs.

Life insurance cover and optional covers Choosi can arrange direct include:

Life Insurance

Cover for death or diagnosis of a terminal illness.^
Lump sum up to $1.5 million, depending on your age and the policy.
Cover can be adjusted to suit your individual needs.

Children's Insurance

Covers your child for death, diagnosis of a terminal illness or a specific and defined serious injury or illness.
Usually available as optional cover with Life Insurance policies.
Lump sum payment (up to $50,000) to help with funeral costs, medical expenses, or other family needs should the child pass away.
May be limited to be available for children who are Australian residents between 2 and 17 years of age. Waiting periods may apply.

Total and Permanent Disability Insurance (TPD)*

Cover for when you become totally and permanently disabled.
Usually available as optional cover with life insurance policies.
Can go towards medical bills and ongoing care such as the costs of treatment and rehabilitation. Benefit paid in full if you suffer a disability which leaves you permanently unable to work.
Lump-sum payment of up to $1 million (depending on your Life cover amount and age).
Eligibility will depend on age, commonly between 18 and 60 years and working at least 20 hours per week.
Cover may expire after you turn 65.

Serious Illness Insurance*

Cover for a range of defined serious illnesses.
Often available in as optional cover with Life Insurance.
Assists with paying extra expenses during a defined serious illness.
Lump-sum payment of up to $500,000 (or 50% of life insurance benefit amount).
Eligibility will depend on age, commonly between 18 and 59 years.
Cover may expire after you turn 65.

^ For most of the policies available direct through Choosi (depending on the policy) diagnosis of a terminal illness means where life expectancy is 12 months or less and cover is excluded for death or terminal illness as a result of a self-inflicted injury in the first 13 months.

* Payment of any Total & Permanent Disability or Serious Illness benefit (if applicable) will reduce the available death benefit.

Life insurance can help protect the lifestyle you’ve worked hard to create

It’s common to feel a sense of freedom looming as your kids get older and start to become financially independent. However, it’s worth remembering that financial setbacks can come up at any time, especially as your adult children are still getting on their feet. Having plans in place to prepare for life’s unexpected challenges, either for you or your extended family, may still be worthwhile.

Life Insurance products Choosi offers direct provide a lump sum payment that could be worth up to $1.5 million to nominated family members (beneficiaries) in the event of your death or the diagnosis of a terminal illness (depending on your age and policy).

As a mature family, life insurance could offer you:

Peace of mind for your older children – you may find that your children are beginning to take their own path in life, such as moving out or studying for their future. If you were to pass away, your life insurance benefit could be used to help them keep their plans in place.
A way to protect the hard work you’ve done – you may have already made a start paying off the mortgage or any other assets for your family, so it’s good to know that all your hard work and planning could be protected should life take a turn for the worse.

Life insurance can provide financial help to the people that depend on your income if something happens to you. Choosi can help you find the right life insurance for you and your family from a range of brands, while also helping you with the application process. If you would like to find out more, contact Choosi's team of Choosers on 1300 363 5261300 363 526 or request a quote today.

This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market.

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