• A. You may not want to pass on outstanding mortgage debt, personal debt or final expenses i.e funeral costs to your family and friends. What about income protection or TPD? If you suffer a serious injury and can’t work for a few months or ever again, what would you do then?

• A. Most people are not fortunate enough to have adequate funds invested in a high-interest account that would be enough to cover their outstanding debts and give their family support for the future. With some life and disability claims reaching up to $2 million … it’s a fair wad of cash to just have sitting around!

• A. Not exactly. Health insurance covers medical expenses that are associated with sickness and injury but does not provide support for bills, debts or loss of income if you can’t work for an extended period or ever again. Life insurance covers the gap between the expenses covered by health insurance and additional costs of ongoing treatment, rehabilitation and loss of income.

• A. There is financial support from the government for those that suffer a disability but there are rules around who is eligible to receive the benefit and it is not likely to be enough to cover your annual expenses. Consider the table below showing maximum payment for those over 21 with children.
  

  Status	Payment per fortnight	Total per annum
  Single Over 21	$782.20	$20337.20
  Member of Couple	$589.60	$15329.60

• A. You receive a quote for cover by entering your details in the form above. A certified insurance consultant will then call you to discuss different policy options and provide you with a preliminary quote based on these details.

• A. Life Insurance and Income Protection are not straightforward types of insurance and the cover that is available to you and what you will pay for it is greatly impacted by your own personal characteristics. Based on your Gender, Smoking Status, Age, Type of Protection, Occupation, Income and Level of Protection required a consultant can provide you with a preliminary quote for cover.

This preliminary quote can then change based on a number of factors including;

• Any pre-existing medical conditions that you may have.
• Nature of activities carried out in your occupation.
• The policy you choose.
• Style of premium you choose.
• The policy fee charged
• Stamp duty that is charged

• A. The insurance consultants that finder.com.au work with have access to major life insurance brands in Australia and may have access to smaller specialist insurance groups as well. You can view the main panel of insurance brands that you can receive a quote for here.

• A. Australian and New Zealand Citizens, and Australian permanent residents (those residing in Australia at time of application). Age restrictions vary between brands and cover selected.

A. An insurance consultant can help you review your current policy to help you decide whether you can benefit switching to another option or increasing/decreasing the level of cover in your current policy.

• A. Insurers class anyone that has smoked tobacco or any other substance in the last 12 months as a smoker.

• A. Yes. Generally, two people can be covered under a single policy. Discounts for multi-policies are offered by some brands.

• A. No, generally they will be required to take out a separate policy.

• A. Most insurers will only require medical or blood tests at application if the insured has a pre-existing condition that needs to be assessed further. Additional evidence may be required in the event of a claim.

• A. It depends on the condition and treatment. Every insurer has different conditions for pre-existing conditions so it is best to check the PDS before taking out cover. If the insurer decides that your pre-existing medical condition presents to great a risk for them, they will generally exclude it from cover. As an example if you are applying for cover and  have a history of back problems, your insurer may exclude all claims related to back conditions from your policy.

• A. There are generally two options available to you:

• It might be worth speaking with an insurance consultant to see if there are any other companies out there that are willing to provide you with cover. Assessment criteria is not the same for all insurers so it's always worth looking around if you have struggled to get cover due to a medical condition.
• You may also be able to have your current insurer review your condition when it comes time to renew your policy to see if the exclusion can be lifted if your situation has changed.

• A. Generally all deaths are covered except for suicide within the first 13 months of the policy. Accident only life cover will only provide cover for death that is the result of an accident. Some policies may exclude death related to pre-existing medical conditions for a set number of years from the start date of the policy.

• A. Most policies will not pay a benefit for claims arising from;

• Intentional self-inflicted injury or self harm.
• Acquiring HIV, AIDS, Hepatitis B or Hepatitis C unless if through performing duties of the your occupation.
• Disablement caused during engagement in armed forces of any country.
• Claims related to pregnancy, uncomplicated childbirth or miscarriage.
• Claims caused by your engagement in unlawful acts.
• Claims from aviation activity unless you are a fare paying passenger on a scheduled flight.

• A. Yes. You can apply to increase or decrease your cover at any stage to meet your needs. It’s worth noting that you will be required to undertake another round of assessments with your insurer.

• A. Yes. You can update beneficiaries at any stage.

A. Yes. Most policies offer 30 day cooling off period whereby premiums paid during this period will be refunded. No premiums will be refunded if you cancel your policy after the cooling off period.

• A. No. Life insurance is not an investment product and is designed to pay a benefit for death, terminal illness, injury or illness.

• A. Yes. Most policies provide cover 24 hours a day anywhere in the world. Countries that have been advised against travel are generally not covered.

• A. In the event of your death, your life insurance brand or super fund trustee will pay out the nominated death benefit to one or more of your financial dependents or to your estate. A “binding nomination” can ensure the benefit from the cover in your super is paid to the beneficiary of your choice. You should make sure your estate has the necessary documentation so that they can claim on your behalf (see below).

• A. If you have life insurance through your superannuation and are concerned about who will receive the benefit payment, you can make what is known as a binding death benefit nomination. A binding nomination allows you to nominate exactly who will receive what in the event of your death, essentially making your Estate Planning more certain.

• A. A binding nomination can be taken out on;

• Your current spouse.
• Child of any age.
• People that are financially dependent on you at the time of your death.

The benefit payment can be distributed among the different beneficiaries provided you give details of the share you wish to be given to each beneficiary.

• A. Generally, the beneficiary will need to provide:

• A completed claim form.
• Original policy document and policy schedule.
• A copy of the deceased’s birth certificate.
• A certified copy of the deceased’s will.
• Probate or letters of administration.

• A. If you claim for injury or illness on a life cover policy, your benefit will be reduced by the amount paid and your premiums adjusted accordingly.

• A. Most policies allow you to nominate up to 5 beneficiaries on your policy.

• A. The claim will be paid to your estate.