Benefits of term life insurance
Term life insurance offers a few advantages over other types of life insurance. Some term policies are much easier to apply for as you don’t need to go through any intrusive medical exams or long forms. In the case of Seniors Term Life Insurance, all you need to do is answer is eight questions about your health to apply for cover.
Seniors Term Life Insurance can be a great option for those who only need cover for a limited time in their life. Whether you’re going through unexpected concerns as you get older or have just made large financial commitments which you need to meet, taking out term life insurance means you won’t have to worry about your financial plans being interrupted during the most unpredictable stage in your life.
Term life insurance for older Australians
Some insurers offer term life insurance designed exclusively for those aged 45 and over, with benefits that can become more important as you age. Request a quote for Seniors Term Life Insurance to choose your cover level and find out about cost.
A term life insurance policy offers many great benefits for those of us who are taking on life’s late challenges, such as retirement or downsizing. There’s no denying that we may be at risk of certain setbacks that we probably didn’t have to worry about when we were 25. For example – if you have adult children, they may still need a helping hand in becoming financially independent.
Term life insurance in Australia
It’s important to do your research and choose an insurer that offers the best possible value for your personal needs and goals.
Direct term life insurance
Direct term life insurance is a type of life insurance policy that you can purchase for yourself directly with an insurance brand, such as Australian Seniors. This means you don’t need to go through any third-party agents or brokers. Although direct life insurance is very common in Australia, it’s a good idea to understand the differences or overlaps term life insurance has with other types of policies, such as group life insurance, or purchasing insurance through a broker.
Read more about direct life insurance >
Group life insurance
Group life insurance is a type of cover that you receive from your employer or superannuation fund, where several people are insured under a single contract. Your employer or union usually purchases a policy on your behalf and includes the cover as part of your remuneration.
Many Australians already have some form of group life insurance built into their superannuation, although it’s important to remember that this cover is not tailored to your specific circumstances. If you feel that you need more cover, you can take out a direct policy based on your individual needs and financial plans.