How do I know what life insurance to buy?

Andrew Mo Updated: 14 July 2020

Congratulations! You’ve probably recently come to realise that you need life insurance, great stuff! So you’ve just made a very important decision that can make a huge difference to both your life and the lives of the those you love, should something happen to you.

You’re probably thinking, “There are so many options! How do I know which one is right?” or “I hope the policy I choose covers everything I need”. You’re not alone, the world of life insurance can be overwhelming even for some of those who are particularly financially savvy.

A good starting point would be to draw out a plan for your life insurance policy, as there are several options to choose from, it is important to ask the right questions (and lots of them). This will ensure that you get the a life insurance policy that better meets your requirements.

Here are some basic questions you can start with:

  • What life events do you want to financially protect you or your family against?
  • How much would you or your family need if something happened to you?
  • Do I want something low cost or am I willing to pay more for more comprehensive cover?
  • Do I want my spouse and children to be covered under the same policy?

After you have done a little more research you can start looking into more in-depth questions like:

You should be able to get a better idea of what you need once you’ve performed a little research. Feel free to reach out to one of our experts here at Life Insurance Direct if you get stuck.

Now that you’ve figured out what you need, let’s keep this momentum going and move onto the comparison stage. As you have probably deduced, we take life insurance very seriously here at Life Insurance Direct. Our mission is to help protect Australian families from financial loss caused by death, illness or disability.

When you’re doing your comparison make sure you have most (if not all) of the below boxes ticked:

  • I understand what is covered and what is excluded under the policy
  • I know what information I need to give to the insurer
  • I have the information on premiums options how these work
  • I am aware of the waiting periods before making a claim
  • I know how to make a claim
  • I can provide feedback or cancel using the cooling off period if need be

Fortunately, for you we can go one step further! We have just the right online tool for you to compare up to eight life insurance brands. This should make things a little easier for you in your search. Start your insurance policy comparison by submitting the form below, alternatively if you would like to speak with a life insurance expert, give us a call on 1300 135 205.

Compare, Save and Buy Life Insurance

Enter your info and let’s get started.

Or call us on:

1300 135 205

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