Getting into insurance can feel like stepping into a maze of confusing terms and choices. If you're in your 20s or 30s, you might be asking yourself, "Do I really need this?" or "Where do I even start?"

Australia’s life insurance industry is getting a makeover when it comes to premium labels. If you've been paying attention to your life insurance policy terms, you might have noticed words like "Stepped" and "Level" popping up. By December 31, 2024, these labels are being redefined for new retail policies, and here’s why it matters for you. 

Breakups are tough enough without thinking about your insurance. But if you’re going through a divorce or separation, reviewing your life insurance and other policies isn’t just a good idea—it’s essential. Changes to your personal life mean your financial protection needs to keep up. 

Whether it’s a high-speed dive into the ocean or a rock climb with no safety gear, the thrill is undeniable. But have you ever thought about how these activities impact your life insurance? Spoiler: they might. 

We’ve all Googled things like “Do I really need life insurance?” or “How much does it actually cost?” Whether you’re thinking about protecting your family, covering your mortgage, or just want some peace of mind, we’ve got you covered. 

To help you out, here are answers to 7 life insurance questions that Australians search for the most. Let’s get into it. 

Let’s be real. We all know our lifestyle affects our health, but did you know it also affects your life insurance premiums? Yep, the choices you make daily—what you eat, how much you exercise, and even your hobbies—can impact how much you pay for life insurance. Here’s how. 

Did you know you can tweak your life insurance as your life evolves? Whether you’re getting hitched, having kids, or planning for retirement, your insurance should grow and change with you.

Life insurance is like that safety net you hope you never need but are glad to have when life throws a curveball. It’s all about giving you and your loved ones some peace of mind in the face of the unexpected. You might worry about whether your claim will pay out when you need it most. Good news: According to moneysmart.gov.au, 97.4% of life insurance claims purchased through a financial adviser are accepted.

Life insurance is all about providing that financial cushion for you and your loved ones during the toughest times, but there’s a big question: will you or your beneficiaries need to pay tax on those life insurance payouts? It’s an important aspect of financial planning. If you pass away or can’t work, your benefit payment could be a lifeline. Whether your benefit will be taxed varies depending on the insurance type and circumstances. Let’s break it down.

Did you know there's about $1.5 billion in lost shares, bank accounts, and unclaimed life insurance policies floating around in Australia? Why does this happen, and more importantly, how can you make sure your life insurance doesn't get added to that pile?

Hey there, thirty-somethings! Life insurance might seem like one of those things you can put off for later, right? But there are some pretty solid reasons to start thinking about it now. If you're in your 20s or 30s, life insurance is probably easier and cheaper to buy than you think. And It's not just about peace of mind – it could actually save you some serious cash down the road. So, let's dive into why investing in life insurance in your 30s is a smart move.

When you take out a life insurance policy, the insurer needs to figure out how much you’ll pay in premiums. This process, called underwriting, looks at factors like your job, medical history, hobbies, and financial situation. Basically, it means you’re only paying for the cover you actually need.

Sometimes, insurers need more info about your health to make a fair decision on your application. For instance, if you have a pre-existing condition, you might have to get a medical exam before they give you the green light. Let's dive into why this happens and what you can expect from the process.

Running your own show? Whether you’re a freelancer, entrepreneur, tradie, or small business owner, being self-employed in Australia comes with heaps of benefits. You get to be your own boss, set your own hours, and reap the financial rewards. But it’s also crucial to be aware of the risks that come with it.

Here's a topic that’s often misunderstood: life insurance with mental health conditions. There are a few myths out there that can make the whole thing seem more complicated than it really is. Understanding what you can be covered for is key to choosing the best options for your situation.

If you're shouldering the financial responsibilities of your household all on your own, you know firsthand how tough it can be to stretch that single paycheck to cover everything. With bills piling up and expenses seemingly multiplying overnight, budgeting for life insurance might seem like an impossible feat. So we're here to shed some light on how you can make it work.

As we journey through life, our needs, priorities, and responsibilities evolve, and so should our insurance cover. Whether you're just starting out in your career, settling down with a family, or enjoying your golden years, having the right life insurance is crucial for protecting yourself and your loved ones. But with so many options available, how do you know which one suits you best at each stage of life? Let's explore how to tailor your life insurance as you age, ensuring you're always covered for whatever life throws your way.

So, you're taking the plunge into homeownership? Exciting times ahead! Whether you're diving into the property market for the first time or upgrading to your dream abode, buying a home is a major milestone. But amidst the whirlwind of open inspections, mortgage applications, and packing boxes, there's one important question you might not have considered: do you need life insurance when buying a home?

Hey lovebirds! 💍 Ready to embark on the journey of marriage and all the adventures it brings? As you dive into the blissful world of wedded bliss, there's more to consider than just picking out the perfect wedding cake or choosing the right honeymoon destination. Yep, we're talking about the not-so-glamorous but oh-so-important realm of insurance. While it may not be the most romantic topic, ensuring you and your partner are adequately protected is a crucial part of building a secure future together.

Ever found yourself wondering if you could tap into multiple insurance policies when life throws you a curveball? You're not alone. With various types of coverage available like Life, Total and Permanent Disability (TPD), Trauma or Critical Illness, and Income Protection (IP) insurance, it's natural to question if they can all pitch in when the going gets tough. Well, guess what? It's not just a pipe dream. But before you start planning your retirement in the Maldives based on insurance payouts, let's break down how these policies can actually work together and what you need to know for a solid financial safety net.

Life is full of unexpected twists and turns, and while we can't predict the future, we can certainly prepare for it. Whether you're building your career, starting a family, or just embracing the rollercoaster ride of life, one thing's for sure—you want to protect what matters most. But what happens when you have a pre-existing condition?