Life

What is life insurance and what will it do for me?

30th January 2017Written by: Anna Charisiou

Life is busy, and life insurance can easily end up in the “too hard” basket. But thinking about your family’s future and providing for them in unforeseen circumstances could mean there’s one less thing to worry about. We look into what life insurance is and how it could benefit you


Life insurance pays out an agreed sum of money upon the death or terminal illness of the person insured. Some policies may also pay benefits for accidental injuries or serious illness.

We work for the milestones. For the keys to that car, the home in your name and your child’s first day of school. Life insurance can help protect these with a financial safety net, even if you’re no longer around.

But even though one third of all women and a quarter of men will suffer cancer in their lifetime, many Australians have inadequate life insurance to ensure their family’s standard of living can be maintained in the tragic event of their premature death.

It may not be a purchase your loved ones will see now, but they will feel the difference if something happened to you. By taking the time to understand the benefits of life insurance, you can plan to protect your family from life’s unexpected turns.

How does it work?

Life insurance can seem like a complicated concept, but really it’s simple. It’s you providing financial protection for the ones you love so they can continue to live life to the fullest. While no one likes to think “worst case scenario”, it can be comforting to know that if that happens, your loved ones can be secure.

Life insurance provides financial support in the form of a lump-sum payment, to help preserve your way of life and that of your family, in the event of your terminal illness or death.


Even though one third of all women and a quarter of all men will suffer cancer in their lifetime; many Australians have inadequate levels of personal life insurance.

What do I pay for?

We are all different, with unique lifestyles, needs and responsibilities, which is why many insurers offer a range of product options. Choosing the right cover for you and your loved ones means they can continue to have the same financial stability you shared together.

Generally, you will also be able to add optional extras to your policy – such as Insuranceline’s optional cover against certain accidents and serious illnesses. These extras give you more control over your policy and more options when it comes to your cover.

With any life insurance policy, terms and conditions apply. To find out more about the cover Insuranceline offers call one of our Insurance Specialists today on 13 77 87.

Article brought to you by Insuranceline, a trading name of TAL Direct Pty Ltd AFSL 2432260. Life Insurance issued by TAL Life Limited ABN 70 050 109 450 AFSL 237848. Policies and claims administered by TAL Direct Pty Limited ABN 39 084 666 017 AFSL 243260 (trading as Insuranceline) under agreement with the insurer.

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