A growing family comes with a number of new financial responsibilities and everyday costs. Having the right cover in place can protect your family and provide the security they need to survive and prosper. Suncorp Life Insurance can help cover your debts and mortgage, as well as household bills and education costs. It can also be used to pay for travel and education expenses. Having the right life insurance cover can provide peace of mind when the unexpected happens.
Benefits
Purchasing life insurance can protect your family's future in case you die or become terminally ill. You pay a regular premium, and when you die, your beneficiary receives a lump sum of up to $1.5 million. This can help your family maintain their lifestyle and maintain their home. You can also add Optional Illness Cover to your policy to increase the amount of coverage you have available for specific illnesses.
Costs
When it comes to the cost of life insurance, the first thing to keep in mind is the amount you are willing to spend. Suncorp life insurance policies can be expensive, and it is wise to choose the best policy possible for the amount you plan to spend. To make matters easier, you can use a comparison site to find the best deal. Suncorp life insurance is available through a variety of providers, so you can find the best one for your needs.
Age limit
The maximum age for applying for Suncorp life insurance is 65. To apply, you must be an Australian or New Zealand citizen, be a permanent resident in Australia, and receive a PDS. The maximum cover level is $1,500,000, with the policy expiring at 99 years of age. If you die before this age, the insurance will pay you 120% of the cover amount, whichever comes first. However, it is important to note that if you die before the policy expires, you may not be able to claim against your policy.
COVID-19 vaccination
A recent government report reveals that one in four Australians have been exposed to COVID-19, which is the leading cause of death among healthcare workers. In Australia, about half of those exposed to COVID-19 develop an infection that causes death within a year. Fortunately, there are ways to avoid COVID infection and ensure you are covered. Listed below are a few ways to protect yourself.
Term life insurance
Suncorp term life insurance is an option for Australian residents. This type of insurance covers a person's financial obligations up to a specified amount, which can include debts, mortgages and credit cards. You can also purchase it online. The Suncorp website also provides information on how to buy it. The TAL Life Limited group of companies provides the Suncorp Life Insurance product. TAL does not have any ownership interest in Suncorp Life Insurance and uses the AAMI brand under license. It is one of the largest life insurers in Australia, and boasts 150 years of experience.
Income protection insurance
An income protection insurance policy with Suncorp Life can help you to cope with the financial stress of illness or injury by providing a monthly income. The policy can be tailored to your specific needs and provides coverage of up to seventy-five percent of your average income in the past year. It also pays out an early payout of up to $10,000 to cover funeral expenses. It's a good idea to consult a financial adviser for advice and help in choosing the right policy.
