Whether you currently have an ANZ life policy or are curious about their offering because you want protection from the same bank that’s providing your home loan or personal loan, it’s generally a good idea do an annual ANZ life insurance review and then compare life insurance policies from other top Australian insurers.
Insuranceline life insurance built their business on the promise of providing ‘life insurance your way’, giving customers the option to choose from a range of cover options and payment methods.
1. Comply with your duty of disclosureWhen you purchase a life insurance policy, make sure you disclose all essential and relevant information. Do not try and make yourself sound healthier than you are. Withholding information could lead to your claim being denied.2. Review your PDS and Ts & CsBefore lodging a claim, carefully read through your policy terms and conditions to make sure the event you want to claim for is covered in your policy. There might be some exclusions in place, for example, life insurance companies will generally not pay a death benefit if death was due to suicide 13 to 24 months after policy commencement.3. Check the waiting periodMake sure your policy doesn’t have a waiting period attached. Some policy types, like TPD, usually have a minimum waiting period you need to serve before you can claim any benefits.4. Make sure your premiums are up to dateLife insurance is a legal contract between you and the insurance company. In exchange for paying your monthly, quarterly or yearly premium, the insurer covers you against the risk of death, illness or injury, depending on your policy type.
Skin cancer in Australia is one of the most common forms of cancer. According to the Australian Government Cancer Council (2017), 10.4% of all cancers diagnosed in Australia were melanomas, usually black or brown skin spots that resemble moles, and although not the most common type of skin cancer, it caused the most deaths.
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Personal insurance is a key type of insurance held by most Australian families. If you’re wondering whether personal life insurance is worth it, ask yourself what would be the financial consequences of an illness or injury that left you unable to work for a long time. How would your family survive if you suddenly passed away or got diagnosed with a terminal illness?
Life insurance policies offer multiple built-in benefits and additional low-cost options that when included in your cheap life insurance policy, has the potential to enhance its value.
Income protection insurance generally provides a monthly benefit of up to 70% of your salary if you are unable to work, for a specified period, due to a sickness or accident.
You might want to purchase life insurance direct from the insurer, through your bank branch, or through a life insurance broker.
