Finder Score - Life Insurance
Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 20 products and gave each one a score between 1 and 10.
But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.
Read full Finder Score methodology
Why compare life insurance with Finder?
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You pay the same price as buying directly from the life insurer.
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We're not owned by an insurer (unlike other comparison sites).
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We've done 100+ hours of policy research to help you understand what you're comparing.
What is death insurance cover?
Death insurance cover, sometimes called life insurance, pays a lump sum to your beneficiary (or beneficiaries) if you pass away.
Death cover can bring peace of mind for you and your family. It can help secure your family's future and ensure they don't need to face the burden of financial uncertainty while simultaneously coping with grief.
- Lump sum payments in the event of death or terminal illness
- Advance payments to help cover the immediate costs
- Financial planning and counselling benefits for your family
- Benefit payments available in the event of serious injury or illness
What type of expenses am I covered for?
- Rent or mortgage repayments
- Children’s education expenses
- Daily living expenses and needs, such as food and clothing
- Costs to hire housekeeper or nanny
- Home maintenance costs
- Funeral expenses
- Legal expenses
- Estate settlement costs
How do I determine my life insurance needs?
There isn't one death cover that is ideal for everyone, which is why it is important to assess and compare different policies to determine which plan would be most suitable for you and your family's needs. Here are a few things to consider when calculating the right amount you need:
- You current annual income. Replacing your lost income for the years required
- Short-term and long-term debts. This often includes mortgage, credit card debts, personal loan, and car loan
- Your immediate expenses. This includes food, clothing and shelter (rent payments, if you don't own your home)
- Your children's education expenses. Consider the number of children you have and their respective ages to determine the total amount of expenses
- Emergency funds. Work out how much of your expenses such as a funeral arrangement, medical treatments, legal fees and estate settlement costs can be covered by your savings.
You can use a life cover calculator to give you an indication on how much you may need for a death cover. If you want further guidance, an experienced death cover agent can help you in determining an ideal amount that will match your needs situation, as well as providing tailored advice on life policies that suit what you require.
What forms of death cover are available?
The two main types of life insurance are term life insurance and funeral cover, both of which can pay out the full sum insured on death. If you are not eligible to obtain term life insurance (such as due to medical conditions or age), a funeral plan may be a good option.
Type | Details |
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Term life insurance |
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Funeral plans |
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Death cover for different life stages
Can death cover pay for accidents and injuries?
In the event of a fatal accident or injury, death cover of both types, funeral plans and term life insurance, can pay out, while some benefits may also be available for survivable accidents or injuries, although these are generally only available with term life insurance policies.
What is funeral cover?
Funeral cover is an insurance product that gives your family a lump sum when you die so they can pay for your funeral without worrying about the hefty costs.
If you are in the older age group and have little debt, you may want to consider a funeral plan that will take care of your funeral costs.
Frequently asked questions
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