life insurance policy options

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Is It Legal to Have Multiple Life Insurance Policies in 2024?

One of the most common questions people ask about multiple life insurance policies is whether it’s legal. Yes, it is legal to have more than one life insurance policy in Australia. You can purchase as many policies as you like, if it’s justified, and you fully inform all insurers of your existing coverage.

Life Cover Buy Back Options and Reinstatement Insurance

Did you know that when you have a combined life insurance and TPD policy and receive a payout for total and permanent disablement, your overall sum insured reduces by the claim that’s been paid? This means, your loved ones will receive less money should you pass away. This is also the case if you bundled life cover with a trauma insurance policy.

Life Insurance with Terminal Illness Cover Explained

Being diagnosed with a terminal illness is tough emotionally, mentally and physically, but your finances might also take a severe knock. When undergoing treatment for a terminal illness, medical expenses not covered by health insurance start piling up.

Cancelling your life insurance policy in 2023

There are several reasons why you may wish to cancel your life insurance policy. You might be coming out of a long-term relationship, or you could be looking for a more affordable option.

Compare Stepped vs Level Premiums to Find Your Best Match in 2023

When applying for life insurance, you’ll likely have the option to choose between stepped, level, and hybrid premiums. If you’re not sure what the difference is, you’ll either have to make a blind decision at the moment or trust the consultant to give you an objective explanation. However, when it comes to protecting your family, knowledge is power.