The Low Down on Life Insurance

When it comes to life insurance, most Australians admit defeat before they've even started. Navigating your way around the hundreds of polices on offer can be hard work, not to mention understanding the value of all of the optional extras and pricings.

Given the understandable complexity of life insurance, many Australians hold a number of misconceptions especially with regards to medical examinations, pre-existing medical conditions, and the cost of life insurance policies.

The following will help you understand the ins and outs of life insurance and dispel some of the common myths.

Myth 1: I have to get a medical examination

Although most Australians believe a medical examination is mandatory, this isn't the case. Medical examinations are only required in certain situations. It's also worth noting that if you do not wish to have a medical exam for personal reasons we can offer you a "no medical" life insurance option, but bare in mind this type of insurance generally comes with higher premiums.

Myth 2: I can't get cover with a pre-existing condition

Never assume insurance cover is out of the question because of a pre-existing condition. Our qualified and accredited advisers are trained to find the best priced cover for those with a pre-existing medical condition, including things like high cholesterol or blood pressure, diabetes, mental health concerns, and sleep apnoea.

Myth 3: It's too expensive

Many of our happy customers are pleasantly surprised when they learn the cost of life insurance. The cost of a life insurance can be as little as a latte a day and provides far greater peace of mind and financial protection than relying on your own personal savings should the unexpected happen and you find yourself no longer able to work.

Affordable life insurance coverage

To determine the best policy for your needs and calculate the cost of life insurance cover, contact one of our friendly consultants at Rate Detective today!

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Published on November 11-nd, 2011 in Life 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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