Life Insurance Basics

Life insurance can provide a financial benefit to beneficiaries after the insured person's death, subject to policy terms.

Overview

Consider why you need cover, who depends on you, the desired policy term and the amount of protection before comparing policies.

What should you check?

• Read the policy definitions, limits and exclusions.
• Check the excess and any waiting or notification requirements.
• Understand what evidence may be required for a claim.
• Compare equivalent levels of cover rather than comparing price alone.

Why policy wording matters

Insurance is a contract and the precise terms determine when a claim can be accepted. Marketing summaries can be useful for orientation, but the policy documents should be treated as the authoritative source for the coverage you are considering.

Common questions