We currently do not offer life insurance policies from Metlife through our comparison service. See the full list of brands we compare for more information.
Why should you consider life insurance?
In Australia, life insurance makes up a valuable part of our national welfare system. With a life insurance policy, you can have the peace of mind that your loved ones could be looked after if something happened to you. Your life insurance proceeds for a claim could go towards putting your kids through school, maintaining your family’s quality of life or anything else that’s important to you.
There are four types of life insurance you might want to consider taking out based on your personal circumstances. These are:
- Term life insurance (also known as death cover). This type of life insurance can pay out a lump sum benefit to your nominated beneficiary when you pass away. You may also be able to claim your insured sum if you’re diagnosed with a terminal illness.
- Total and permanent disability (TPD) insurance. With TPD insurance, you could receive a lump sum payout if you’re permanently disabled and are unlikely ever to return to work in your own occupation or any occupation within your education, training or experience. The terms of the policy will set out any conditions required to be eligible to claim.
- Trauma Insurance. Otherwise known as critical illness insurance. This type of cover pays out a lump sum when you experience specific illnesses or injuries (such as a heart attack, stroke or cancer) to the degree of severity listed in your Product Disclosure Statement (PDS).
- Income protection. With an income protection policy, you may be able to receive a percentage of your income as monthly payments when you’re unable to work due to injury or illness. A waiting period applies before you’re eligible for any payment. Income protection policies will only make a payment if you’re out of work due to sickness or illness for longer than the waiting period, and no payment is made for any lost income during the waiting period.
Why should you consider comparing life insurance?
When it comes time to purchase a product as important as a life insurance policy, it makes sense to make the most educated decision possible. With our free-to-use life insurance comparison tool, you can see a range of policies from our panel of trusted insurers side-by-side to compare their costs, exclusions, benefits and more.
Or, if you don’t know how much life insurance you need, our free life insurance calculator may be able to help you decide what amount of cover you consider suitable for you. Also consider the insurer’s Target Market Determination (TMD) to see if a policy is suitable for you.