Frequently Asked Questions

Are you authorised to provide advice on the amount of cover I should have?

Yes. We have qualified insurance advisers who specialise in life insurance.

Participating life insurance providers

iSelect Life compares products from the following participating life insurers:

  • AIA Australia
  • AMP
  • Asteron Life
  • TAL
  • Zurich
  • CommInsure

In certain limited circumstances, we may also include products from the following wider participating partner list in our comparison:

  • BT Financial Group
  • MLC
  • OnePath

The following insurers offer a selection of life insurance products available for purchase online:

  • AMP
  • TAL (direct product)

We will display online quotes for these products (subject to eligibility) however you may also be eligible for a wider selection of products available via our telephone advice service.

What are your fees? Do you get paid commission?

iSelect does not charge you a fee for its advice or for helping you find an appropriate life insurance provider. We are paid a commission by the insurance company which allows us to deliver this service at no cost to you. Please refer to our Financial Services Guide for further information on our fees and charges.

Do I need to have a medical examination before taking out a policy?

In most cases a medical exam is not required. However in certain cases to ensure the policy is right for you, the insurer may request a medical examination. Our advisers will be able to identify if one is required and assist you in this matter.

Am I locked into the cover for a certain period?

No. You are able to cancel your cover at any time.

Am I covered whilst travelling overseas?

In most cases you are however some exclusion may apply, e.g. travelling to dangerous countries. You should check the specific terms of your policy.

How do I pay my premiums?

You can stipulate on the application form which method of payment you prefer i.e. credit card, direct debit, Bpay or rollover through your superannuation fund.

Are there any tax implications?

Income protection premiums are generally tax deductible for Australian residents.

If a term life policy is not written through a superannuation fund, the premiums are not tax deductible to the superannuation fund and any proceeds recovered are not considered to be assessable income.

If a term life policy is written through a superannuation fund, the premiums are generally tax deductible to the fund. Taxation of death benefits depends on whether the benefits are paid to a dependant, non-dependant or to the trustee of the deceased’s estate.

As every individual’s circumstances are different, we recommend you seek specific taxation advice from an independent tax adviser.

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