How to Choose the Right Insurance for You

Today's insurance companies offer different insurance plans to cater to just about any type of individual. This is a good thing since it helps people find a type of insurance that truly suits their needs. On the other hand, choosing an insurance policy can also be a daunting task due to the amount of choices available from different insurance companies.

In this article, we are going to share with you a few recommendations on what type of insurance to choose depending on your age, lifestyle, and occupation. While you will still need the help of a qualified advisor to make the right choice, our recommendations below will help you get started. See what type of insurance is for you if you...

A. Are a businessperson. In business, you do not only have yourself and your family to take care of, but also the company that you worked so hard to build. How will you ensure that it survives you, the loss of your business partner or a key person, or an impending bankruptcy? Here are your business life insurance options:

  • Key Person Insurance
  • Business Expenses Insurance
  • Business Partner Insurance

B. Are young and single. With your life ahead of you, it only makes sense to do everything you can to protect your future. The following types of insurance may be able to help you pay your bills, mortgages, and other financial obligations when you are unable to work:

  • Income Protection Insurance
  • Total and Permanent Disability (TPD) Insurance
  • Life Insurance

C. Have a family. Being the head of a family entails great responsibility, as you have other people to look after from now on. Getting insurance for yourself and your family members is thus essential to help you weather unforeseen events that may happen to you. In that case, here are your ideal types of insurance:

  • Income Protection Insurance
  • Redundancy Insurance
  • Trauma Insurance
  • Critical Illness Insurance
  • TPD Insurance
  • Life Insurance

The types of insurance we listed above could be just a partial list of the insurance types available to you. We thus recommend that you consult with our professional advisors at Rate Detective. They will help you choose the right insurance for you based on certain considerations such as your age, occupation, and lifestyle. Aside from that, they will provide you with a comparison of the top 9 insurance companies in Australia, further ensuring that you'll get the best deal that is tailor-fit for you.

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Published on October 10-th, 2012 in Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

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