Life Insurance Product in Sydney

Hi Friends,

I am relatively new to Australia (hence a migrant) and I am looking out for a life insurance for myself. I have checked a few websites and then zeroed down (almost) on TAL.

Then I read reviews about TAL (https://www.insurancewatch.com.au/tal-insurance-reviews.html), and found out that they are worst in paying out the insurance amount if need be and even during the policy period their customer service is bad.

Hence I need your suggestion which are good insurance companies who give insurance at comparable prices and are good at paying out the insurance amount in case of death and with good customer service. I am asking too much some would think so but in my own birth country, i have seen a company doing this for years.

Please let me know your views.

Thanks very much,

Comments

  • are good at paying out the insurance amount in case of death

    Insurance companies will always look for any opportunity to invalidate a claim, less claims paid out = more money in the pockets of the company = happier shareholders = bigger bonuses for the executives etc etc etc.

    As for what insurance company to go with it's going to depend on your individual circumstance - the insurance companies weight various risk and protective factors differently so this will affect your premiums.

  • I haven't passed away yet so I cannot comment of how good my insurer is.

  • Pretty sure once you start working, your super would have death insurance. It's deducted on a weekly basis.

    • You are correct almost all super has some death insurance.
      You might find that the amount is not enough to help your loved ones out as much as you would like.

      You might also find that unless you have a binding agreement, renewed every 3 years, that the trustees of the super company will pay out in the way you would expect.