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All Life Insurance Articles

Planning • 3 min read

Getting a Life Insurance quote

Researching and buying the ideal Life Insurance cover will bring you peace of mind. Find top tips and steps to getting a Life Insurance quote.

Prices for Life Insurance vary quite a lot, depending on the insurer and what’s included in the cover, so it pays to shop around and weigh up the benefits of various policies as well as the costs.

Getting quotes should take just a few minutes each. The easiest way is to get a quick quote online or call us on 13 77 87 and one of our friendly staff will assist you.

Researching and buying the ideal Life Insurance cover will bring you peace of mind, knowing that you’ve done your very best to provide for your family should the worst happen.  

Steps to getting a Life Insurance quote

1. How much money will you need?

Work out how much money your family will need if you aren’t able to provide for them. It’s crucial to ensure a sufficient amount of cover, so be sure to keep in mind living expenses and any debts such as the mortgage, as well as future costs like education.

If you’re a single parent or a sole-income family, you might need to factor in extra child-care, transport and housekeeping.

2. Research what’s on offer

Your superannuation fund is likely to have a certain amount of default cover if you are unable to work due to illness or injury, or death. Study this cover carefully—is it enough for your family to comfortably live on now and in the years to come?

Being underinsured puts your family at risk of financial hardship. If your current cover falls short, then consider increasing it, or buying additional Life Insurance from a specialist Life Insurance provider offering a range of policies that can be tailored to fit your needs. 

3. Get a few different quotes

As with any major life decision, be sure to research and compare prices and inclusions. Once you have a short list of Life Insurance providers find out about additional cover, added benefits, flexibility within policies and discounts for things such as a policy for your partner.

Notice how they treat you: if they’re friendly, expert and efficient in their interaction with you, then that is a good indication they will treat you well should you ever need to make a claim. 

4. Get the most from your insurance

Many insurers offer extra benefits and options. For instance, paying premiums annually instead of monthly might save you money. Some insurers, including Insuranceline, give you a discount if your partner also takes out a policy.

Get a quick quote online now and we will call you back or give us a call on 13 77 87.

There are many different types of insurance and life stages are a factor in determining your suitability for each type. Read about the other types of insurance that Insuranceline offers: Funeral Insurance and Income Protection Insurance.

 

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^Offer available to Insuranceline customers who complete an application for an Insuranceline branded and distributed Life Insurance, Income Protection or Funeral Insurance policy between 1 October 2023 and 31 March 2024 (inclusive) and are issued with a policy with a commencement date prior to 00.01AM (AEST) 1st of May 2024. To be eligible policy holders must hold the policy for 4 consecutive months and pay 4 months’ premiums in full. One Gift per customer. View full terms and conditions.

**Bonus 10% more cover is calculated on the fifth anniversary from the Policy Commencement Date. Each adult life insured will have an extra 10% of the average Funeral Insurance Cover amount held during the previous five years added to their Funeral Insurance benefit. Terms and conditions apply. Refer to the PDS for more information.

#Claims paid figures relate to all Insuranceline life insurance policies in the 2021 financial reporting year (1 April2021 to 31 March 2022). All claims on Insuranceline policies are assessed against the relevant policy terms and conditions. These terms and conditions, as well an explanation of the claims process, can be found in the applicable Product Disclosure Statement. Claims are administered and settled by the insurer, TAL Life Limited.

***Insuranceline is the longest standing provider of Funeral Insurance in Australia, based on: Strategic Insight, Actuaries & Researchers. Funeral Insurance means a policy with periodic premium payments that provides a lump sum to help pay for funeral and associated expenses when you die and excludes pre-paid Funeral Plans and Funeral Bonds.

The information provided on this website is general advice only which means it does not take into account your individual needs, objectives or financial situation. For this reason, you should consider whether it is appropriate for you, and before you decide to buy or to continue to hold an insurance product, you must read the relevant Combined Product Disclosure Statement (PDS) and the Financial Services Guide (FSG). The PDS/FSG contains important information which will help you understand the product, including what's covered and what's not covered and to decide whether it is appropriate for you. The Target Market Determination (TMD) for the relevant product, where applicable, is also available.

If you are considering cancelling a policy you already hold in order to replace it with a new policy, make sure you read the terms and conditions of both policies before you make a decision. The cover terms may be different, you may lose benefits accrued under your existing policy, and waiting periods may apply to the new policy. Changes in your personal circumstances (such as your age, health, and employment) that have occurred since your existing policy was originally taken out may also affect your new policy. As your application for a new policy may not be accepted, and some policies may be unable to be reinstated after they have been cancelled, you should consider waiting until your new policy is confirmed before you cancel any existing cover.

Promoted by Insuranceline, a trading name of TAL Direct Pty Limited (of Level 16, 363 George Street, Sydney NSW 2000) ABN 39 084 666 017 AFSL 243260. TAL Life Limited ABN 70 050 109 450 AFSL 237848 issues the life insurance benefits. St Andrew's Insurance (Australia) Pty Ltd ABN 89 075 044 656 AFSL 239649 issues the Involuntary Unemployment Cover.

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