Taking Out Life Insurance

Once upon a time the only way to take out life insurance was through an insurance agent or financial adviser, but today Australians have numerous ways to take out cover.

Whatever your preference is, there are numerous ways to take out a new life insurance policy . Some people prefer the security of meeting with a qualified financial adviser, whilst others prefer to take matters into their own hands and apply online.

Television Offers

Over the last few years there has been a huge increase in the number of companies offering life insurance via television advertising campaigns.

It is almost impossible to watch mid-morning television without being bombarded with advertisements for life insurance, and with their offers of easy applications and no medical exams they can certainly appear to be an attractive option.

Some of the policies offered by these firms are not quite as comprehensive as the policies available via financial advisers, so make sure you research the policies first to check their coverage when it comes to existing medical conditions and other benefits offered.

Direct from the Insurer

In the past many of Australia’s largest insurance companies only offered life insurance via insurance agents and financial advisers, however many are now seeing the benefits of offering cover directly to the public.

The internet has made this process much easier for the insurers, and most of them now have websites that allow consumers to apply for life insurance direct using secure online forms.

Financial Advisers

Financial advisers remain one of the most popular sources for Australians seeking advice and service on life insurance products.

There are many benefits to be had when using a financial adviser. Unlike most other sources, a qualified financial adviser is licensed to provide you with personal advice and make recommendations.

A financial adviser can assist you with calculating the amount of cover you require, as well as choosing the insurance company that will provide you with the policy that suits you. They will also be there to assist with the application process as well as any potential claims down the track.

Online Comparison Websites

Amongst the fastest growing sources for information and quotes on life insurance are the online comparison websites.

These websites allow users to enter their information and then receive a range of life insurance quotes to compare. Some of the better websites also allow users to compare the features and benefits of the policies.

Once you have chosen the policy which suits your needs, the website will generally have a link directly to the insurance company that will allow you to apply for the cover online.

Which is Suited To You?

There is no single option which will suit everyone perfectly, as we are all different and have various preferred methods of dealing with people.

Some people prefer not to deal with a sales person or consultant, and will instead choose to go through the entire application process online without having to speak to a real person.

On the other hand there are people who are not comfortable with providing such a large amount of personal information via the internet, and will prefer to visit a financial adviser at their office to run through the process.

The great thing about life insurance is that there is a policy to suit every person and a method of applying to suit every person. However you choose to take out your cover, the most important part is obtaining the right cover to protect you and your family.


This article is about life insurance and is general information only. It should not however be treated as factual, as personal advice or be the basis of purchasing any insurance policy. Before deciding on an insurance policy read the PDS carefully and talk to a licensed insurance agent if you need further assistance. MoneyBuddy does not recommend insurance products or provide personal advice in regards to insurance products.

My shortlist

You can shortlist products here & email them later.

No products currently shortlisted.


What are you looking for?

What type of account?

more options > Search Plan

Special offers

Find a mortgage broker

Enter your location to find a professional near you.

home > insurance > taking out life insurance