Benefits of Life Insurance
A life insurance policy provides a lump sum payment to your beneficiaries or your estate when you pass away. It can also provide a lump sum payment if you are diagnosed as terminally ill and have less than 6 to 12 months to live.
Common built-in benefits
- Funeral Advancement Benefit - Many policies in Australia offer an in-built funeral advancement benefit which is paid immediately upon proof of a death certificate. The funds can be used to pay for costly funeral arrangements, with the balance paid out to your estate or nominated beneficiaries thereafter.
- Cover till age 99 or 100 - Most policies allow you to keep the policy till age 99 or 100.
- 24/7 Worldwide Protection - Most Australian insurers offer worldwide coverage 24 hours a day, 7 days a week.
- Covers all types of death - Most life insurance policies cover you for all types of death, not just accidents (except for suicide within the first 13 months of the policy).
- You decide who your benefit goes to - A death nomination (outside of superannuation) states to whom your life insurance proceeds should go to, and provides certainty to your loved ones as to who will receive your benefit, and how much. It can be changed or updated at any time, offering you peace of mind should relationship circumstances change, such as separation or divorce.
Life insurance optional benefits
- Free childrens insurance - Select insurers offer free childrens insurance with their adult life insurance policies.
- Discounts for couples - You can save 5-10% on your premiums if you get cover for both you and your spouse. Over the life of your policy, these savings could add up to thousands.
xLife comparison service
Our award winning service is backed by a responsive team of advisers and customer service staff. We offer:
- Free comparisons of Australia's top policies
- Free annual policy reviews
- Free claims management
Life insurance claims benefit
Life is full of surprises and unforeseen events, and life insurance can help financially protect your loved ones should something happen.
A life insurance benefit payment can help cover:
- Repay your mortgage
- Credit card debt
- Outstanding loans
- Funeral costs
- Education costs for children
- Medical costs associated with terminal illness
Exclusive Offer! Call xLife on 1300 135 205 today and
save up to 20% on your first year's life insurance premium.
June 2011
