Why Life Insurance is Important at Every Stage of Life

Many superannuation funds in Australia automatically include a basic level of life insurance for members, often covering death, total and permanent disability (TPD), and income protection. If your super balance exceeds $6,000, it's likely that you have some form of life insurance. It's important to review this cover regularly to ensure it matches your needs, especially as your financial responsibilities grow. You can also choose to increase your cover or take out additional policies outside of super for more comprehensive protection.

A life insurance policy is a contract between you and the insurance company. In exchange for regular premium payments, the insurer pays a lump sum benefit to your beneficiaries if you pass away or in some cases, if you're diagnosed with a terminal illness, or pay a monthly benefit if you have an income protection policy. Life insurance policies vary in coverage types, including term life, income protection, TPD, and trauma insurance, so you can tailor the policy to suit your needs.

To get the best life insurance Australia offers, it's important to compare policies from different providers, considering the types of cover you need. With Keep Insurance Co, you can easily access competitive life insurance quotations through our online platform and adjust your policy as your needs change.

And Keep goes further by rebating a large proportion of the commission, making us one of the cheapest ways to access life insurance in Australia.

Yes, as your financial commitments change, it's important to review and adjust your life insurance policy. For example, if you pay off your mortgage or your children become financially independent, you may no longer need the same level of coverage. Alternatively, you may want to add trauma insurance or other protections as health risks increase with age.

Life insurance corporations in Australia operate by offering a range of policies to individuals and businesses. These policies are designed to protect against financial loss due to death, disability, or illness. Keep Insurance Co offers a unique advantage by simplifying the process—allowing you to access quality cover online without the need for intermediaries, and at competitive rates. Life insurance corporations are heavily regulated by both APRA and ASIC, regulators for the Australian Federal Government.