Video Transcript
Life insurance can be an awkward or uncomfortable consideration. We all like to think that we’re a bit invincible and that the worst won’t happen to us. But just like the insurance you buy for your home and car, life insurance can provide a financial safety net for you and your loved ones, should the unthinkable happen. And while some people do have some level of life insurance tied into their superannuation, opting for a one-size-fits-all solution could leave you underinsured.
It’s important to make sure you have the right level of cover to meet your needs – whether that’s helping to pay off any debts or to make sure your family is provided for. And that’s where Compare the Market comes in. In a matter of minutes, compare a number of policies side-by-side to see what options are available to you. But before you dive in, our experts have these tips to support your decision-making: Number one – always read the PDS – that’s the Product Disclosure Statement – from cover to cover.
The PDS will tell you everything you need to know about that life insurance policy to figure out whether it’s right for you or not. Two – Be honest about your medical history. If you don’t disclose an existing medical issue or condition upfront when taking out your policy, you might get a nasty shock down the track when you find out you’re not covered for it. Finally, pay attention to the inclusions.
Every policy features a different set of included and excluded possibilities. You’ll want to pick one that provides cover for any problems you might face later in life. So, whether you’re taking out a new policy or you’ve decided it’s time to consider a new provider, it pays to compare. Start your journey today with Compare the Market.