- Life Insurance Products
- What is Life Insurance?
- Why Do I Need Life Insurance?
- How to Purchase Life Insurance
- Key Person Insurance
- Life Insurance vs Income Protection
- Life Insurance Glossary
- Frequently Asked Questions
- Is Life Insurance Tax Deductible?
- How Much Life Insurance Do You Need?
- Best Life Insurance
- Income Protection & GST
- Life Insurance And Superannuation
- Life Insurance For Seniors
- MLC Life Insurance
- When Is Life Insurance Paid Out?
Why Do You Need Life Insurance?
Although you may not think you need life insurance while you’re young and healthy, it makes sense to prepare for the unexpected and to take steps to protect your family financially in case the unthinkable happens.
Dealing with a death or serious illness in the family is difficult enough without the added strain that comes with a loss of income. That’s why life insurance is so important.
Here’s how life insurance can take some of the pressure off your loved ones at a difficult time.
Why is it so important to have the right Life Insurance Policy?
In the event that something should happen to you or your partner, life insurance can help keep your family financially secure.
Yet recent statistics show that when it comes to life insurance the average Australian is woefully underinsured. The same report shows that the average level of life insurance cover meets less than two-thirds of basic everyday needs, and the average level of disability cover only meets a fraction (13 per cent) of daily living expenses.
While you probably have some level of life insurance through your super, it may not be enough. The fact is, many families today would need up to $1 million or more to protect their current lifestyle.
iSelect does not compare all insurers or products in the market. Not all products are available at all times.
iSelect Life Pty Ltd – ABN 89 124 304 347, AFS Licence Number 331128. Any advice provided by iSelect is of a general nature and does not take into account your objectives, financial situation or needs. You need to consider the appropriateness of any information or general advice we give you, having regard to your personal situation, before acting on our advice or purchasing any product. You should consider iSelect’s Financial Services Guide which provides information about our services and your rights as a client of iSelect. We receive commission for each product sold.