Why You Need to Get Insured Today

One of the most common questions our clients ask us is how soon they should take out life insurance. The answer is simple: the sooner you take up life insurance the more competitive terms you will get it on. In the following paragraphs, we will share with you some of the most important reasons why it's important that you should get insured as soon as possible.

  1. It's cheaper. The price of the premiums you're paying would depend on a number of factors, which include your age, health, and lifestyle. Insurers take these things to account to assess your level of risk. In general, younger people are healthier making them less of a risk for insurers, and therefore coverage is more affordable. Many younger customers choose to go on levelled premiums to lock in their price so that it does not change until age 65.
  2. It helps protect your future. Let's face it, insurance is a grudge purchase! Delaying the decision to take cover could have dire consequences. At Rate Detective we have had 2 clients that we sent quotes to pass away due to accidents prior to taking up cover and several clients have been diagnosed with cancer as well which makes them largely uninsurable. We found out this terrible news when phoning back spouses as part of a regular follow up to see if they were still interested in the cover. If your considering life insurance then there is no point delaying unnecessarily.
  3. Take insurance before seeing your doctor: If you do not have any medical conditions then get insurance before you book your next regular check-up. We have had several clients informed that they have diabetes, high blood pressure or other illnesses after a regular check-up. Insurance often becomes more expensive when you are diagnosed with a condition.

In sum, it's all about preparing for your future. While you may not have to lodge a claim for a specific insurance product you have, it is always better to be secured and have peace of mind, especially when you have a family who depend on you.

Here at Rate Detective, our consultants are ready to help you find the perfect insurance policy for your needs. They will do so by assessing your personal circumstances as well as providing you with rate comparisons of Australia's top insurance companies. Contact us today for more details!

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Published on June 6-th, 2013 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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