Buy life insurance online in Australia

You may question whether it is safe to buy life insurance online in Australia, but it is actually a very popular way of not only buying but comparing life insurance policies.

The main type of life insurance available in Australia is called ‘term life insurance’. Term life insurance protects you for death, usually until age 99, and pays a lump sum benefit to your beneficiaries or to your estate.

There are also a number of other personal insurance products placed under the life insurance umbrella. These products include trauma insurance, TPD insurance and income protection insurance.

How to buy life insurance online
When buying life insurance online in Australia you can choose to buy life insurance directly from a life insurance company’s website, or through an online life insurance comparison service.

Buying direct from the life insurance company online
When buying life insurance online be sure to go with a well known life insurance company with a good reputation. If you are in doubt, look for a company with an ‘A’ or ‘AA’ rating. These are the top ratings given out by an independent company that can help you determine the trustworthiness of a life insurance company.

Buying from an online life insurance comparator
Another way of buying life insurance online is to go through an online life insurance policy comparison service. There are a number of websites that compare life insurance policies for free, to help you find the most suitable policy. The benefit of using a service like this is that it can save you valuable money and time.

It is important to note that irrespective of who you decide to buy life insurance from, it may be more advantageous to buy life insurance from a business who asks more questions. Companies that ask only a few questions, or do not ask any questions at all, often have higher premiums compared to those companies that ask a large number of questions at application time or at underwriting stage).

Should you buy life insurance online?
Deciding where to buy life insurance from is a personal decision. An advantage is that you may also benefit from special promotions only offered by these online life insurance comparators. Online comparators often have qualified financial advisers who can offer you valuable advice to help you decide which life insurance policy is best suited to your situation.

However purchasing life cover is not something that should be entered into lightly please seek financial advice if you are unsure or require any assistance.