Life insurance broker
Grieving a loved one is painful enough without unexpected bills. Life insurance makes sure your loved ones aren’t left dealing with financial stress or expenses they’re not prepared for in the wake of your death. Working with a specialist Australian life insurance broker makes it easy to find the best policy for your family and your budget, no matter where you live.
What is life insurance?
Life insurance is a policy that means that when you die or are diagnosed with a terminal illness, a tax-free lump sum of money will go to the people you’ve nominated. This can help them manage debts, mortgages, kids’ education costs, funeral expenses and other costs they’re facing while dealing with the emotional impacts of grief.
This type of cover is especially important if there are people who depend on your income, like a partner or kids. Having a life insurance broker means you can be sure you’ve chosen the right level of cover to support your loved ones.
Do I need life insurance?
You don’t need life insurance, but your loved ones do. It’s human nature to ignore the reality that death is a certainty for all of us, but failing to plan for what happens after your passing can have long-term consequences for your loved ones.
Research from the Association of Superannuation Funds of Australia¹ found around 5,000 Aussies die each year without life insurance cover, meaning families have missed out on $670 million in death benefits every year since 2019.
No one wants to think of their loved ones struggling with financial burdens, which is why working with a life insurance broker could be the best thing you ever do for your family.
Why should I use a life insurance broker?
Finding the right life insurance can be overwhelming, but with access to just about every APRA-regulated life insurance company at our fingertips and decades of experience, Ian Jones can find you the best cover for you and your loved ones. Here’s why it makes sense to use a life insurance broker to buy your policy.
| Buying from an insurer | Buying from a broker |
|---|---|
| Access to a small selection of policies | Access to a wide range of policies |
| Generic policy that might not meet your needs | Policy that meets your needs, delivered with objective, expert advice |
| Spending time searching for the right policy and maintaining it | Administration and management are taken care of, saving you time now and in the future |
| No support available if there’s an issue with your policy | Brokers manage the entire process, including claims, supporting you and your loved ones |
| No review if the policy no longer fits your needs | Brokers will review your policy on an ongoing basis, letting you know if changes are needed |
Get the right advice. Personal and professional.
Proudly headquartered in Newcastle and serving clients nationwide, Ian Jones is the life insurance broker Australia depends on, to protect the people they love.
FAQs
Life insurance typically covers a lump sum payment when you die, but depending on the policy might also include:
- Total and permanent disability (TPD) – a lump sum payment to help with costs if you are permanently disabled and unable to work
- Trauma insurance – a lump sum payment if you’re diagnosed with a major injury or illness, such as cancer.
Many superannuation life insurance policies are not enough to cover the specific financial needs of beneficiaries. We recommend a tailored life insurance policy to make sure you have enough cover for modern mortgages and living costs.
Life insurance payouts that go directly to a financial beneficiary (like a partner or child) are tax free. However payouts may be taxed if paid through a superannuation fund to a non-dependent beneficiary (such as an adult child).
This depends on your circumstances, including your family situation. We recommend you chat to a broker to better understand the amount of cover that would be appropriate for you.
Life insurance is a one-off payment if you die or are diagnosed with a terminal illness. Income protection is a series of regular payments paid (usually monthly) if you’re unable to work due to illness or injury.
Life insurance premiums depend on your age, medical history, occupation, lifestyle and other risk factors. Talk to Ian Jones to find a policy that meets your cover needs and budget.
Life insurance payouts are usually around six months after the claim is filed or the waiting period has finished. Income policies are often paid within two months of the claim being filed or the waiting period finishing. A life insurance broker will manage this process on behalf of you or your beneficiaries.
It depends on the policy, but as a general rule, anywhere between 60 and 70 is the cut-off for taking out life insurance. But once you have the policy, you can maintain it no matter what your age.
Yes, you can have multiple life insurance policies. You might choose to have life insurance through your superannuation in addition to tailored life insurance policies.
Yes, but there may be exclusions. Experienced life insurance broker Ian Jones can help you find a policy that fits your risk profile.
If you have a partner and children who would be negatively impacted financially in the event of your death, you would typically list them as beneficiaries. Sometimes people also choose to name other family members, friends, trusts or charities as beneficiaries.