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Life Insurance

Are you wondering if life insurance is right for you? We understand how essential it is to get it right, so we've answered some of the most-asked life insurance questions.  What is life insurance? Life insurance is a financial product that is a safety net for your loved ones in the unfortunate event of your passing. The payment is a contract between you (the policyholder) and an insurance company (the insurer) designed to give financial security to the policyholder's beneficiaries or estate.  How many types of Life Insurance are there in Australia? Life insurance in Australia offers a comforting safety..
Life insurance offers a safety net for your loved ones in the unfortunate event of your passing. But when tax season rolls around, you might ask: is life insurance tax deductible? Are you confused about life insurance and how it affects your taxes? This guide and our expertise will help you navigate life insurance and tax deductions in Australia. Our clear explanation will help you choose whether this option best aligns with your financial goals. What types of life insurance are tax-deductible? The Australian Taxation Office (ATO) generally doesn't allow tax deductions for premiums on life insurance policies taken out directly with..
A common misconception about insurance is that you only have to take out a policy once and forget about it. And while that certainly is an option, it could expose you to the risk of slipping through gaps in your insurance coverage that you didn't account for. In contrast, making an effort to frequently review your insurance policies allows you to evaluate whether your present coverage is sufficient or if other insurance products cater to your evolving needs. This ensures that both you and your loved ones are adequately protected if the worst were to occur. With that in mind,..
While several variables help determine the cost of your life insurance policy, perhaps none has a bigger effect than age.  This post examines the factors that influence life insurance cost by age and why this is the case. How do life insurance rates by age in AU work? Life insurance rates refer to the cost of a life insurance policy. Life insurance rates are mainly determined by two factors:       Your personal circumstances       The type of premiums you opt for The personal circumstances that determine your life insurance rates include:   Age: quite simply, the..
Life insurance is a contract between an insurer and you. It promises to give a certain amount of money to someone you choose after you die. Life insurance is an effective and popular way to provide your loved ones with financial protection after you're gone. Life insurance payout can help your beneficiary with immediate expenses after your death. These expenses may include funeral costs and medical bills. Additionally, life insurance can also cover ongoing financial responsibilities. This includes rent or mortgage payments as well as daily living expenses. It can also cover ongoing financial responsibilities like rent or mortgage payments..
When first hearing about the idea of income protection insurance, many people wonder how it differs from life insurance. Subsequently, individuals who already have a life insurance policy question whether they also need an income protection policy. In most cases, the answer to that would be a yes. This is because the primary purpose of taking out life insurance is, in general, to protect your loved ones in the event of your premature death - as they are financially dependent on you. Whereas, conversely, income protection insurance is typically taken out to protect your own ability to earn an income,..