What is life insurance? Do you need it?

Life is unpredictable. Life is scary. Insurance is one of life’s unfortunate and necessary expenses because it’s a safety net. Some people complain ‘insurance is expensive’ and ‘insurance is a waste of money’. What if you thought of insurance as cheap… if you need to spend 2% of your salary protecting your family should the worst happen, is that expensive? If you make $60k annually, and allocate 2% of your income to insurance, that’s $3.30/day, if you can’t afford it STOP buying coffee and use the free stuff at work. These costs will include a range of insurances (car, home, medical, personal insurances) not just Life Cover which sometimes is less than 50cents a day.

Life Insurance (also know as Life Cover), is you providing for those you leave behind, it’s their protection. It helps them make the mortgage repayments, it invests in your children’s education, it puts food on the table and pays the bills. Life Cover makes the hardest times a little bit more bearable for your loved ones.

Life Cover is sometimes thought of as the insurance that if you die your family gets some money… well that is kind of right, but it’s missing a lot of detail. First, an apology, this stuff bares not thinking about and all sounds quite negative. In reality, you absolutely MUST consider how to protect your family and fulfill your debt obligations, especially mortgages, if you were to pass away there’s no second chance to get this right. The trick is to rethink insurance and see it as a positive thing… with insurance you know you are protecting your family.

The best investment you can make if you have a mortgage is to get a range of adequate insurances… the type of cover you require is not an easy question to answer. It depends on how old you are, if you have dependents, how much debt you have, what pre-existing conditions you have, what your job(s) are, how much is everything worth, what you qualify for… the list goes on. There are options and conditions on all types of insurance. To decide or learn about what is right for you talk to one of our advisers about the next steps to see if you qualify.

Between the ages of 30 and 64 you might be alarmed to know that 1 out of 7 women and 1 out of 5 men will suffer from critical illness.

Getting your insurances setup makes sense if you have a mortgage. You’ll insure your home against fire, you’ll insure your car against theft, you’ll get some form of medical cover insurance,  but many people fail to adequately insure themselves for illness, injury or death. These are decisions that will allow you to have peace of mind should the worst happen and allow you to recover from life’s inevitable challenges. We talk with people all the time who have lost their jobs, had a serious illness, or been left behind because their partner has passed away. It’s heart-breaking to hear that these people are often under insured or completely uninsured.

The peace of mind you get in protecting your family is the reason for these insurances. Yes, it adds some cost. Yes, you’ll have to read more paperwork and learn more from your advisors. This is a small price to pay.

You have worked hard to provide a secure and comfortable life for your family, so it makes sense to get life cover and some health cover. You can provide your family with day-to-day financial relief if you’re seriously ill or injured, made redundant, diagnosed with a critical condition or are no longer here to help.

At least have the conversation with your partner and family… ask us for some advice and we’ll show you the options and costs. Not only is personal insurance the best investment you’ll ever make but it’s the most important because you might not be around to see if what you’ve sorted out actually works out. This is why we only work with A+ rated insurance company Asteron Life.

To find out more contact us. All quotes and advice are free because banks and insurance companies cover our fees.

Life insurance

Life Insurance (also known as Life Cover) will pay a lump sum of cash if you were to pass away or become terminally ill. If you find out you’re going to die, you do not have to wait for a payout, the money will help pay costs while you’re still alive.

Would you like a lump sum paid to your loved ones if you pass away or become terminally ill?

It is not a trick question. If you have very little debt, if you have no dependents, if after you’re gone everyone will survive financially… you probably don’t need Life Cover. If you have kids, a partner who depends on your income, debt that is looked after through your income… you probably need Life Cover. Asteron Life’s Life Cover includes Funeral Advance benefits and is flexible for you when/if you enter new or change relationships (marriage, civil union or similar). This cover will also support you young children’s future education like paying for their university. You will have a guarantee of renewal and can take a premium holiday if required.

How to get the best life insurance cover and get it set up quickly so you have peace of mind.

Get a full review and know your options by booking a time to chat.

Trauma Recovery Insurance (also known as Critical Illness Cover) pays you a lump sum, if you develop any one of an extensive range of medical conditions specified in the policy (the first time only).

You never know when a serious medical illness or condition might strike. It could be tomorrow or next year, but if it does, it pays to be ready with adequate cover so your family does not have to find money to cover your medical and living costs… especially if you need outside care 24/7.

Could your family survive the financial impact of a major illness? How would you make up for the loss of income (you might not be able to work) and unexpected costs that are routinely experienced by others in that situation?

By  protecting yourselves from the financial effects of serious illnesses you’re investing in better care and less stress. Dozens or scary medical conditions covered and can be discussed with one of our advisers.

Cancer cover

Early and late stage cancer insurance is cost effective… these days cancer is more common with life expectancy rising.

Total & permanent disability cover (TPD)

If you become totally or permanently disabled would you want the money to pay for outside care? If you don’t want to burden your loved ones if the worst were to happen, this cover is for you. If you lose eyes or limbs you’re covered under this policy… if you could never work again you wouldn’t want to rely on ACC to pay for everything.

Income protection cover

This is insurance paying a monthly benefit to you if you’re unable to maintain your regular income because a temporary or partial disablement or sickness is preventing you from working. This can be over and above ACC cover.

Workability cover

A form of disability insurance that is more affordable and can be extended if your return to work is delayed.

Mortgage & rent cover

If you’re unable to work because of sickness or injury and don’t want to just rely on ACC or other insurance this is recommended cover. Especially important because interest rates could go up at any time. Redundancy and bankruptcy cover are included and you can get 110% of your mortgage payments covered. Property could be a great investment, but if you lose your ability to pay the mortgage, it might be something that bankrupts you.

Kids cover

Receive lump sum payments if your child suffers trauma.

Accidental death cover

Alternative to Life Cover if you are unable to get adequate cover because of pre-existing medical conditions

Farmers disability cover

This is for farmers only.

Business disability cover

Designed to cover business overheads while a business owner is unable to work due to sickness or injury

DISCLAIMER: There are conditions and different disclaimers that change often. Request them by emailing us or talking with one of the advisers .

Why we recommend Asteron Life

Asteron Life won Life Insurance company of the year 2013, 2014, and the World Finance ‘Best Life Insurance Company’ in 2015. Our guess is they’ll win again this year. Since 1878 Asteron Life has been working with advisers like iRefi delivering the best insurance products on the market. Asteron Life’s commitment to quality is why we chose them to help our clients with protection against the problems that sometimes hit us throughout life.

You would think an insurance company wouldn’t boast about paying claims but if you ask them what they do it’s always the same ‘we (Asteron Life) are in the business of paying claims.’ The focus is on ‘cover for now, and for tomorrow’.

The pricing for insurance is often a hot topic with clients… If you’ve never had insurance like this before the costs might seem daunting. Buying insurance based on price is like going with the cheapest mechanic or cheapest restaurant. Sometimes you get a good deal, most of the time, you get what you paid for and are none the wiser until it’s too late. Asteron Life has very competitive and fair pricing but they are not the cheapest for a reason. They offer premium and quality insurance products with cover for things that are left out of the cheaper insurance packages.

You’re buying peace of mind knowing that if the worst were to happen… you’re protected. Your loved ones are protected. Insurance companies have to make money otherwise they won’t be able to pay claims and be there for you in 5, 10, 20+ years when you need them. Asteron Life’s pricing philosophy is a fair price and a truly sustainable business model. This is how they’ve provided cover for over 100 years.

The pricing structures are flexible, guaranteed and often have discounts when multiple products are purchased. There are no policy fees… many insurance companies have them. Payment can be either stepped or level. Level premium payments are payments that are locked in and fixed so they don’t increase with your age. This is like a fixed mortgage rate. Stepped premium payments start lower and increase each year as based on your age.


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