Cheap Term Life Insurance

Term life insurance is great for individuals who have a family, children or dependents and earn the most income to support their family. Life is unpredictable and it is important to ensure your family and loved ones are taken care of financially in case anything happens to you.

When shopping for life insurance Australia, searching online and using the internet’s resources are a great way to educate yourself on life insurance basics, shop and compare quotes for the best life insurance policy for you. The main type of life insurance in Australia is term life insurance.

Cheap Term Life Insurance for young & healthy people
This type of life insurance may be low cost and great for young healthy individuals who want to ensure their dependents are taken care of in the event of death. Your policy will cover a pre-determined “term”, and in Australia this is usually up to the age of 99 years - but 5, 10, and 15 year term life insurance policies are also available. Your premium payment and death benefits are only applicable during that term.

Cheap term life insurance for people with family
Cheap term life insurance is great for those individuals who want to protect their family in the event of their death. Cheap term life insurance is often referred to as “pure insurance protection” because there is no cash value compared to whole of life insurance or universal life insurance. Cheap term life insurance also expires at a certain time after either a set number of years or when you reach a certain age.

A medical exam may be required when you are buying cheap term life insurance. Most exams cover height, weight and medical history. Sometimes test results can hinder your ability to get approved for term life insurance or it could potentially increase your rates, but if you are healthy you should be fine.

Bundling your cheap term life insurance with income protection or trauma insurance
You may like to consider bundling your cheap term life insurance with income protection or trauma insurance. If you purchase multiple types of personal insurance from the same life insurance company, your premiums may be reduced.

Get advice on cheap term life insurance
If you need advice on where to purchase cheap term life insurance from, speak to your financial adviser. Your financial adviser may be able to help compare hundreds of cheap term life insurance policies and options, and help you select the best policy which suits your particular situation without compromising on quality.