Life is unpredictable at the best of times, and whether you’re 27 or 67, no one can see what is around the corner.
The last thing anyone wants is to burden their family with sudden costs, should you die, or get diagnosed with a terminal illness. That’s why getting Life Insurance is especially important. As a matter of fact, nearly 2 in 5 Australians choose to get Life Insurance because they’re getting older.
Even if you’ve built up a nest egg over the years, Life Insurance ensures your family won’t have to reach into your legacy to cover sudden costs.
Who’s eligible for seniors Life Insurance?
Seniors Life Insurance is available to most Australian citizens, provided they don’t have serious medical conditions already. In some cases, you may be required to take a medical examination or have blood tests during your application, but this is relatively common, even when getting covered earlier in life. If you want to know how they figure out your premium, read our article on how your health affects your Life Insurance.
Why get covered as a senior?
Before your reach 75 years old, you have a 1 in 3 chance of developing cancer if you’re a man, and a 1 in 4 chance if you’re a woman. And, you have a 1 in 3 chance of becoming disabled before you turn 65. These statistics are a little confronting, but they illustrate that many of us get sick well before we think we will.
But, nearly 1 in 5 of those who responded to Asteron Life’s survey reported feeling they could relax and live with confidence when they purchased Life Insurance. You too can enjoy this peace of mind.
If you’d like to take a look at some life cover options, let comparethemarket.com.au help you. We let you compare from a range of Life Insurance products online in the one place, so that you can decide what is suitable for your situation.
The information provided here is general only and does not consider your personal objectives, financial situation or needs. Before you decide to purchase a product, it is important to read the relevant PDS.