Life insurance explained
Life insurance is designed to protect your family and the lifestyle you have worked hard to create for the ones you love. You can tailor a policy to suit your family's individual needs, life insurance cover options Choosi can arrange direct include:
| Type |
Description |
Benefit |
Life Insurance
|
Cover for death or diagnosis of a Terminal Illness.
|
- Lump sum up to $1.5 million, generally tax-free. +
- Tailored cover.
|
Children's Insurance
|
Covers your child for Accidental Death, or a specific injury or serious illness.
Usually available as optional cover with Life Insurance policies.
|
- Lump sum payment.
- Cover additional costs such as medical expenses and school tuition.
|
Total and Permanent Disability Insurance
|
Cover for when you become totally and permanently disabled.
Usually available as optional cover with Life Insurance policies.
|
- Lump sum payment.
- Cover additional costs such as medical expenses and school tuition.
|
Serious Illness Insurance
|
Cover for a range of serious illnesses that may include Malignant Cancers, Stroke, Heart Attack or Coronary Artery Bypass Surgery.
Often available in as optional cover with Life Insurance.
|
- Assists with paying extra expenses during a life-threatening illness.
|
Accidental Death Insurance
|
Additional cover in event of Accidental Death.
Often available as an optional cover with Life Insurance.
|
- Death: Provides an additional lump sum payment to your life insurance benefit to financially support your family if you pass away as a result of an accident.
|
How much will it cost?
The premium for your life insurance policy will be based on, among other things, your age, gender, whether you smoke and your level of cover.
As a mature family you will enjoy the benefits of:
-
Financial security
Life insurance for your family can help ensure that if something was to happen to you, outstanding debts, the mortgage and everyday household bills are covered.
-
Peace of mind
As your health and wellbeing becomes a more serious consideration during this stage in your life, it is nice to know that if something were to happen to you, your family’s way of life and lifestyle would be secure.
You are working hard to pay down the mortgage, to cover the kids' expenses, and to have enough money to enjoy life a bit more.
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, as well as with the application process. If you would like to find out more, contact Choosi's team of Choosers on 1300 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.
References
1. McCrindle Research, Generation Y: The Casuals, The Downagers, and the Boomerang Kids, p.1 http://www.mccrindle.com.au/researchsummaries/generation-y-casuals-downagers-boomerang-kids.pdf
2. Thomas, J. 2015, More than half of Aussies aged 18-24 still live at home: ABS, SBS News, http://www.sbs.com.au/news/article/2015/02/26/more-half-aussies-aged-18-24-still-live-home-abs
3. ASIC's MoneySmart, How much can a wedding cost, https://www.moneysmart.gov.au/managing-your-money/budgeting/simple-ways-to-save-money/how-much-can-a-wedding-cost