The taboo topic you're too scared to talk about... Well, we need to talk

If you're in your early forties and you haven't taken out a life insurance policy, statistically you could be gambling against the odds. In 2014, AIA Australia, one of Australia's leading life insurance providers paid out nearly HALF A BILLION DOLLARS in life insurance claims. The youngest claimant was 15 years old and the oldest claimant was 76 years old. The average age of a claimant was 48. 

We know life insurance isn't the most happy of topics and one that most find too scary to even think about, let alone speak of. Many Aussies lay bare to the elements because of their laissez faire, "that'll never happen to me", attitude. Having a family that depends on you though changes everything. What would happen to them if something were to ever happen to you? The reality is, sometimes bad things just happen The good news though? It's really easy to take care of.

Here are our Detective's top tips for to consider when shopping around for life insurance:

  1. Investigate whether you can use super to pay for premiums. Lump sum cover, such as life insurance, can receive a 15% tax rebate if arranged within super.
  2. Don't just look at the price! Look at the product ratings provided by Rate Detective as they provide an indication of the quality of the cover. This is really important.
  3. Ask for a rebate - at Rate Detective you can receive up to 20% 
  4. Compare prices from as many companies as possible. Don't just go to your bank who will provide only one option.

Visit here for further advice on life insurance and contact us for an obligation-free comparison and quote.

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Published on July 7-th, 2016 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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