Policy Options

Published: June 4, 2013

Selecting the right policy option for your situation can play a huge part should you need to make a life insurance claim.

Compare Your Life Policy Options

Free Comparison Free Comparison
Customised Quotes Customised Quotes
No Hidden Fees No Hidden Fees
Calculating your quotes

Premium payment structures

One particular policy option which every person must make a decision on is which premium payment structure best suits their needs.
Australian insurers offer the following structures:

The most common payment structures are stepped or level, with blended premiums, introduced more recently.

Free children’s insurance

Select insurers offer premium free children’s insurance which can be added onto your policy.

Built-in funeral advancement benefit

Most Australian insurers offer some type of funeral advancement benefit which can be used to pay for funeral expenses.

Claim proceeds and beneficiaries

The purpose of a life insurance policy is to leave funds to your loved ones when you pass away, which is why it is vital that you nominate a beneficiary (or beneficiaries). Doing this will ensure the right person will receive your life insurance proceeds.

Stand alone or Bundled cover

Many life insurance policies in Australia offer either a standalone or bundled insurance option.

A stand-alone policy has its own sum insured, whereas a bundled policy shares the same or lesser sum insured with either trauma or TPD insurance.

Compare Life Insurance Quotes
  • Life Insurance Exclusions and Loadings: Top 10 Reasons Revealed

    Before choosing a life insurance policy, make sure you understand what insurance exclusions and premium loadings are and how they can affect your insurance coverage. We list the top 10 most common reasons for exclusions and loadings and how you can possibly remove them from your life insurance policy.
  • Getting Life Insurance When You Have Dementia or Alzheimer’s

    Most Australians with Dementia will usually be able to qualify for life insurance. Compare Insurance for Alzheimer’s and learn how Dementia can affect your policy. Find out the cost of long-term care for people with significant cognitive impairment and where to get trauma insurance against Dementia.
  • Life Insurance

    Compare the Major Life Insurance Companies in Australia ✓ Save on your life insurance premium ✓ Compare Features, Premiums and Benefits Side by Side.
  • Compare Stepped vs Level Premiums to Find Your Best Match

    Wondering which is best, level life insurance premiums or stepped premiums? It's a question many Australians struggle with when selecting a life, income, or trauma insurance policy. We reveal what you need to consider before choosing a premium structure and which type might be best suited to your specific circumstances
  • Life Insurance Inside Super: The Pros and Cons You Need to Know

    If you’re considering buying life insurance and wondering which is best; inside or outside your superannuation, then our complete guide to super life insurance will help you make an informed decision. Review the benefits and disadvantages of life insurance through superannuation before purchasing.
  • Finding Life Insurance For Diabetics In Australia Made Easy

    Life insurance for diabetics with Type 1 or Type 2 diabetes has never been easier. We can help people with diabetes find competitive and comprehensive life cover. Find out what the best life insurance for diabetes is, how much it costs, and what you can do to ensure your premiums stay more affordable.

Ask an Expert?