Do I Need Additional Life Insurance
[social_share]Do I Need Additional Life Insurance if My Superannuation Fund Provides Life Insurance Too? The importance of getting a reliable life insurance policy in Australia
A recent market study carried out by the Tower Australia organization states that there is a huge insurance market potential in Australia and more than 18% of growth is expected by the year 2018 in the insurance sector. This study emphasizes the importance of obtaining a professional and reliable life insurance cover for all families in Australia. Today due to the global economic crisis and rising unhealthy lifestyle, several families are exposed to several types of financial and health dangers. In case of death or accident of a main family earner, the whole family members can suffer serious financial problems. To avoid such economic crisis, one must get the reliable and secure life insurance policy to support the family members in difficult situations.
The fact about the life insurance through superannuation fund
People in Australia are realizing the importance of having a reliable life insurance cover. Several people go for life insurance cover obtained through superannuation fund and believe that this insurance is sufficient for their needs. In fact, the reality is different. Most people ignore the importance of getting whole life insurance policies through reliable and popular life insurance companies in Australia such as ING Insurance, AMP Insurance, MLC Insurance, Suncorp Insurance, MetLife Insurance, Tower Insurance, AIA Insurance, etc. There are several reasons for this ignorance.
The first reason is their belief that the life insurance cover obtained via superannuation fund is more than enough for their needs. This is entirely fallacy. Superannuation fund is just another financial retirement planning scheme which provides financial support in case the person dies or becomes diseased due to various ailments. Most people obtain cheaper insurance policy available via this superannuation fund because it is very easy to get and no certain restrictions are there when getting approved for such life insurance cover.
But most people do not realize the fact that the insured sum they are getting at the time of actual claim is usually very small which can not be sufficient to fulfill the required expenses. Another problem with such life insurance is that people do not get variety types of life insurance policies such as Trauma Cover, Income Protection Insurance, Term life insurance, and Total Permanent Disability Insurance. Several popular online insurance companies provide different types of insurance covers depending upon the actual requirements of the insurer.
Another big issue with superannuation fund life insurance policies is the amount of time delay needed to get the required insurance benefits. There are several rules and processes in the place that lengthens the whole procedure of claim approvals. And if you do not have proper binding beneficiary nomination then there is no guarantee that the insured sum will be paid to the actual beneficiary. These are the main issues with the life insurance cover obtained via superannuation fund.
Due to all the above reasons, it is always a good idea to obtain the reliable life insurance in Australia through popular life insurance companies in the country as mentioned above.
The best method to obtain the reliable and professional life insurance policy in Australia
Now when it comes to get reliable life insurance quotes in Australia, several people get confused due to the availability of different number of insurance policies and large number of insurance companies in Australia. One can spend countless hours trying to meet with insurance company representatives and with insurance brokers just to get reliable information about the best life insurance policy in the market.
Instead of spending countless hours meeting with insurance representatives, one can easily find the reliable and affordable life insurance quotes in Australia with the help of popular life insurance comparison websites on the internet. There are several popular life insurance comparison websites such as Ratedetective.com.au, Insurancewatch.com.au, and Lifebroker.com.au that can help you get instant life insurance quotes online and can provide the best possible support during and after the insurance approval process.
Most of these online life insurance comparison websites are completely free to access and provide easy and fast online life insurance quotes to their users. You just have to provide few important personal details and you can get life insurance quotes from the most reputed life insurance companies in Australia within few minutes. Their support is usually top notch because such life insurance comparison websites also provide extra services like thorough checking of your application, medical checkup at your own home, support and guidance provided at the time of actual claims, online comparison of different life insurance policies and support to find out the best life insurance policy for your own needs.
Thus, it is clearly evident from the above explanation that the life insurance policy via superannuation fund is not sufficient and we have to obtain the professional and reliable life insurance quotes from the best online life insurance comparison websites in Australia.
