subject: Buy Life Insurance Online In Australia [print this page] 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 policies.
The main type of personal cover available in Australia is called 'term life insurance'. It 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 products placed under the life cover umbrella. These products include trauma , TPD and income protection insurance.
How to buy life insurance online
When buying cover online in Australia you can choose to buy policies directly from a life company's website, or through an online comparison service.
Buying direct from the life insurance company online
When buying cover online be sure to go with a well known 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 company.
Buying from an online life insurance comparator
Another way of buying cover online is to go through an online comparison service. There are a number of websites that compare 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 cover from, it may be more advantageous to buy life cover 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 cover from is a personal decision. An advantage is that you may also benefit from special promotions only offered by these online comparators. Online comparators often have qualified financial advisers who can offer you valuable advice to help you decide which 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.
by: Grant Main
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