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We’ve partnered with Compare Club to bring you a range of life insurance policies to help you compare them side by side.
When comparing life insurance policies, it’s important to look for the best one for you and your family’s needs, whether that be in relation to its inclusions, coverage or other conditions. However, with so many options on the market, it isn’t always a simple process to work out what that may be.
You can compare a range of competitive life insurance quotes with Savvy from a panel of reputable companies. Consider offers side-by-side before you buy to help determine which is the best for your needs among our listed providers. Get started with Savvy today by filling out an easy, no-obligation quote.
Working out which life insurance policy is best for you may seem tricky, but there are ways to help you find the right product for you and your family. Doing the following may help you narrow down your choices:
The best life insurance will depend on you and your preferences, as each individual is different in terms of the coverage they need. The different types of life insurance to consider are:
When it comes to finding out which term life insurance policy is best for you, these are some of the benefits to look which may help set the best policies apart from the rest:
You can compare life insurance policies through us for free, allowing you to come back and continue comparing at any time.
By considering life insurance policies from insurers you can trust, you can be confident in the quality of the comparison process.
By filling out a simple online quote form, you can compare offers based on their coverage, cost and more before you buy.
No matter what type of life insurance you choose, it’s important to see whether there’s cover for the illnesses, injuries or death situations you wish to be included under your agreement. This will help you determine which offers are more suitable for you compared to others which may not provide protection in the areas you’re looking for.
You should also consider the exclusions of any policies you’re comparing. Each policy and insurer will have its own set of exclusions, so it’s important to familiarise yourself with these before you buy so you can be more sure about what is and isn’t covered. For instance, if you have a pre-existing condition, such as epilepsy, not all insurers will be able to include it in your coverage. To find out about the exclusions of the policies you’re comparing, you can check their Product Disclosure Statement (PDS).
Similar to other insurance policies, life insurance has a benefit amount which you will be paid out in the event you make a claim on your policy. It’s essential to take out cover with a benefit amount which will provide you with the most suitable financial support in your time of need. As mentioned, you should always assess your situation to help determine how much you or your family may need in the event of a claimable incident.
Before you can make a claim on your cover, your life insurance policy may have waiting periods which apply. For instance, trauma and TPD cover may come with a waiting period of 90 days before you can make a claim, while income protection may require you to wait anywhere from two weeks to two years (you can typically choose this period). Consider how long you may be able to get by before a claim can be made.
When comparing your life insurance options, consider both the current and long-term costs of your premiums. You can generally choose between stepped and level premiums, with the former increasing gradually with age and the latter remaining consistent across your coverage period. Level premiums may be more expensive initially, but could end up being cheaper when you’re older. It’s important to compare your options to help make sure you aren’t paying more than you need to for insurance.
How much you own, earn and save may change across your lifetime. For example, if you’re a single parent or provide for a family, it may be more important that your loved ones receive a larger insurance payout. This may be different for you if you have sufficient savings and are no longer depended upon to provide for your family.
Your debts still need to be paid, even if you pass away or become critically ill. With that in mind, you’ll need to work out the right amount to cover the repayment of these if the unexpected happens. These debts could include a mortgage or credit card payments.
If you’re raising a young family and suddenly pass away, your partner or spouse may still need to put your children through school and other extracurricular activities such as sport or music. They may also need money for their retirement if you’re no longer able to contribute to the household’s savings. These are all things you should consider when working out the cover you need.
The amount of cover you need or should take out may also be partly dictated by what sort of premium you can afford. The greater the insured sum, the more expensive your premiums may be. You’ll need to consider the cost of your premium in both the short and long-term regarding your budget.
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Disclaimer:
Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of life insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a life insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy does not compare all life insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by Compare Club or how their business works, you can read their Financial Services Guide.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
