What is Term Life Insurance
Term Life insurance pays a lump sum benefit if you die or are diagnosed with a terminal illness.
This money is often used by beneficiaries to:
- clear debts
- pay for funeral expenses
- invest and then draw down to replace lost income
- cover dependants’ costs
Term Life insurance can help cover your family’s expenses, such as rent or mortgage payments. The right cover means your family can afford the lifestyle you want for them. For less than the cost of a coffee a day you could have up to $750,000 worth of Life Insurance1.
Full details of all the features listed below are available in the Product Disclosure Statement.
Key features
- Death Benefit
- Terminal Illness Benefit
- Financial Planning Benefit (not available in SuperWrap)
- Funeral Advancement Benefit (not available in SuperWrap)
- Guaranteed Renewable
- Future Insurability Benefit for personal & business events
- Protection against inflation
- Ability to nominate Beneficiaries
Optional features
- Disability Benefit
- Living Benefit (not available in SuperWrap)
- Buy Back Benefits (only Disability Buy-back available in SuperWrap)
- Multi-link Benefit (Not available in SuperWrap).
Learn more about Types of insurance
- What are the types of cover within insurance?
- What is Term Life insurance?
- What is Total and Permanent Disablement insurance?
- What is Living Insurance?
- What is Income Protection?
1 It costs less the $2 a day for $750,000 cover based on a non-smoking 45 year old male, NSW resident (rates: BTFLPP Term Life Policy).
Did you know?
Only 4% of typical working families with dependant children have the life cover recommended by experts to cover their needs.
There are a number of myths surrounding insurance and the facts can be very different from what many people believe.
