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Compare options from leading Australian insurers.

What is life cover?

Life Cover, also known as term life insurance or death cover, generally provides a lump sum payment if the insured person passes away. Some policies may also include terminal illness cover, depending on the policy terms.

The benefit may help your family or beneficiaries with expenses such as:

  • Mortgage repayments
  • Clearing debts
  • Household bills
  • Living expenses
  • Children’s costs
  • Education expenses
  • Funeral or estate costs
  • Time and financial space to adjust

Life Cover is usually most relevant when other people depend on your income or when you have major debts, such as a mortgage.

Unlike Income Protection Insurance, which is designed to provide a monthly benefit if illness or injury prevents you from working, Life Cover is generally designed to provide a lump sum benefit if you pass away.

How Life Insurance Comparison Works

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Enter Your Details

Provide basic information such as age, occupation, smoking status and the amount of Life Cover you want to compare.

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Choose Cover Options

Review options such as cover amount, ownership structure and premium structure. 

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Compare Available Quotes

 If you need help understanding your options or next steps, JIC Insurance can assist. 

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Get Support If Needed

If you need help understanding your options or next steps, JIC Insurance can assist. 

Insurance Premiums

What Affects Life Insurance Premiums?

Life insurance premiums can vary between insurers because each insurer assesses risk differently.

Factors that may affect the premium include:

  • Age
  • Occupation
  • Health history
  • Family medical history
  • Smoking status
  • Lifestyle
  • High-risk hobbies or activities
  • Cover amount
  • Ownership structure
  • Premium structure
  • Policy features and options

MoneySmart notes that insurers may set premiums based on factors such as age, health, job and lifestyle, and that premiums generally rise as you get older.

This is why comparing options can be useful. A quote from one insurer does not always show what may be available across the broader market.

What Should You Compare Before Choosing Life Cover? 

Cover Amount

How much money would your family or beneficiaries need if you passed away?

This may include mortgage debt, other debts, income replacement, children’s costs, education expenses, funeral costs and ongoing living expenses.

 

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Beneficiaries

Consider who should receive the benefit if you pass away.

This may be handled through policy nominations, superannuation beneficiary nominations, your estate, or other arrangements depending on how the cover is structured.

 

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Linked or Standalone Cover

Life Cover may sometimes be packaged with TPD, Trauma or Income Protection Insurance. If cover is packaged, a claim under one type of cover may reduce another benefit depending on the policy structure. 

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Ownership Structure 

Life Cover may be held personally or through superannuation, depending on the policy and structure.

Cover through super can be convenient because premiums may be deducted from your super balance, but this can reduce your retirement savings over time.

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Premium Structure 

Consider whether premiums are affordable now and how they may change over time.

Some policies use age-stepped premiums, while other premium structures may work differently. Premiums are generally not guaranteed and may change annually.

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Policy Terms

Review definitions, exclusions, claim requirements, the Product Disclosure Statement and the Target Market Determination before applying. 

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Ready to Compare Life Insurance Options?

Use JIC Insurance’s online comparison tool to compare Life Cover options from a range of leading Australian insurers. 

Possible Through Super?

Can Life Insurance Be Held Through Super?

Some Australians hold Life Cover through their superannuation fund.

This can be convenient because premiums may be deducted from the super balance rather than paid directly from personal cash flow. However, premiums paid from super reduce retirement savings over time.

When reviewing Life Cover through super, it is important to consider:

  • Whether the cover amount is enough
  • Whether premiums are reducing your super balance
  • Whether your beneficiary nomination is up to date
  • Whether the cover remains active
  • Whether you have cover in more than one super fund
  • Whether the policy rules suit your needs
  • Whether personally owned cover may offer different options

Before applying for new cover, it can be useful to check what Life Cover you already have through super. It can be possible for you to structure your Life Insurance compared through JIC Insurance, to be paid via your superannuation.

Why Compare Life Insurance with JIC Insurance? 

Simple Online Comparison 

Compare available options through a clear online quote process. 

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Range of Leading Insurers

Review income protection options from a range of Australian insurers. 

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Support Available

Get help if you need assistance understanding the comparison or next steps. 

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FAQs

Life Insurance FAQs

Can I compare life insurance quotes online?

Yes. JIC Insurance’s online comparison tool allows you to compare available Life Cover options from a range of leading Australian insurers.

What does Life Cover generally provide?

Life Cover generally provides a lump sum payment if the insured person passes away. Some policies may also include terminal illness cover, depending on the policy terms.

What affects life insurance premiums?

Premiums may be affected by factors such as age, occupation, health history, smoking status, lifestyle, cover amount, ownership structure and premium structure.

Can Life Cover be held through super?

In some cases, Life Cover may be held through superannuation. It is important to compare the cover amount, policy terms, premiums, beneficiary arrangements and whether the structure suits your needs.

Are You Ready?

Compare Life Insurance Quotes Online

If you have a mortgage, children, debts or people who rely on your income, Life Cover may be worth reviewing.

JIC Insurance can help you compare available Life Cover options online and get support if needed.