Get Life Insurance on the Central Coast

Life Insurance Central Coast


Insurance For When the Unthinkable Happens

If you were to pass away suddenly, what would be the financial impact on your family and other dependents? Would they be able to continue to live the way they do now? It’s not often we stop to think about these questions, but if you did, what would be your answer? Life Insurance is designed to provide your beneficiaries with a lump-sum payment in the event of unforeseen, premature death. It helps to protect your family’s lifestyle and your hard-earned assets.

At Coast & Country Insurance Consultants, we help clients find the most suitable Life Insurance based on their needs. Located in The Entrance, we assist clients on the Central Coast as well as in other areas around Australia. Call (02) 4334 3622 to book a consultation.

Friendly Lawyer — Insurance Broker in The Entrance, NSW

Choose A Level Of Cover To Suit Your Needs

What level of cover is appropriate for me? This is the question most often asked to us about Life Insurance. The answer can vary significantly as everybody’s situation is different. An initial ‘rule of thumb’ is to firstly make sure there is enough to adequately clear all your debts. Then work on how long any additional lump sum will last and what it may be required for. We can also help you take into account your spouse’s lifestyle, children’s’ education, ongoing future medical costs and so on.

The premium can typically be tax deductible but it is recommended that you speak to a tax accountant prior to taking on any tax concessions as there can be significant tax issues if handled incorrectly.

We Can Help You Plan For The Future

Life Insurance can also be useful for:

Securing business debt

To protect a business partner from having to service your portion of a business debt they may struggle to repay alone.

Estate planning

This cover can be used in family estate planning for several reasons such as covering the cost of your funeral or to meet mortgage repayments.

None of us like to think about our immortality but addressing it and planning for the future can help to ensure your family are looked after when you’re gone. By contacting us about Life Insurance, we’ll help you choose the appropriate cover and how to structure the policy.

Senior Couple Talking to Insurance Broker on the Central Coast
Smiling Senior Couple Signing A Life Insurance Document

How Does Life Insurance Work In Australia?

When someone passes away in Australia, their insurance provider pays out a lump sum to the person’s nominated beneficiaries. Beneficiaries are usually immediate family members, and the number of beneficiaries nominated may be limited by the person’s particular insurance provider. This lump sum can be used by beneficiaries to help pay for mortgage payments, to cover funeral costs, or to count as a cash gift.

Some providers also pay out a lump sum if a person has been diagnosed as terminally ill, which allows them to cover their medical expenses and arrange their finances. 

What Does Life Insurance Cover?

Life insurance gives you the peace of mind your family or loved ones will be provided for and supported in the event of your death. Insurance policies offer coverage for:

  • Funeral expenses
  • Debt management
  • Income replacement
  • Mortgage payments
  • School fees
  • Bills
  • Groceries
  • Living expenses
  • Child support
Couple Consulting About Life Insurance
Close Up View Of Middle Aged Couple Holding Hands

Why Is Life Insurance A Good Investment?

Life insurance can prove to be a great investment. When you know your family will be taken care of in the event of your untimely death or diagnosis of a serious illness, you’ll live with greater reassurance and peace of mind. This is especially the case if you have debts that will need to be covered in the event you pass away or are unable to work due to serious illness or injury.

In Australia, life insurance benefits are generally paid out tax-free, so your beneficiaries will receive the full support of your insurance cover. And if you sign up for life insurance while you’re young, you’ll be able to take advantage of attractive lower premiums.

What Are The Different Life Insurance Types?

Life insurance coverage includes a range of policy options.

Life Cover

Life cover pays out a lump sum of money to your beneficiaries when you die. You might consider life cover if you have a partner or dependents, as it can help cover debts and living expenses.

Total And Permanent Disability Cover

This option covers rehabilitation and living costs in the event that you are totally and permanently disabled. The definition of 'total and permanent disability' varies among insurers, and coverage might be given if you’re unable to maintain your previous job or unable to work at all.

TPD insurance comes in handy if you have significant expenses you would still need to cover if you weren’t working, such as living costs, debts, medical and rehabilitation expenses, and retirement savings.

Trauma Cover

Trauma cover assists with your financial obligations if you've been diagnosed with a serious illness or life-limiting disease. Cover can vary across insurers, and can be used to assist with the costs of medical and living expenses, rehabilitation, housing changes and debt repayments.

If you don’t have a substantial income or other insurance policies in place, and if you don’t have reliable financial support, trauma cover can help.

Income Protection Cover

Income protection cover offers assistance if you can no longer work due to partial or total disability, and is calculated based on your annual earnings in the year prior to your injury or illness.

If you’re self-employed or a small business owner, if you have dependents or debts, or if there are payments you’d need to continue making even if you can’t work, income protection cover is a good option.

Senior Couple Shaked Hands With Consultant
Senior Couple Walking On The Beach Holding Hands

Contact Us To Learn More About Your Life Insurance Options

If you’re considering life insurance, Coast & Country Insurance Consultants is here to help. Our team of professional brokers and advisors are on hand to offer individualised advice and suitable policy options to match your circumstances, needs and budget. Situated in The Entrance, we work with clients throughout the Central Coast and across the country. Get in touch with us today to learn more about our services and policy options. Call Coast & Country Insurance Consultants on 02 4334 3622.

Frequently Asked Questions

Whilst there is an ideal amount you may wish to cover yourself for, ultimately your insurer will determine a minimum and a maximum cover amount. This will be based on your age, occupation, income and other contributing factors.

The majority of Life Insurance policies will include cover in the instance you’re diagnosed with a terminal illness. If your life expectancy is short (1-2 years), you may be eligible to receive part of full payment of your insured amount. Medical reports are generally required to back-up your claim.

Typically, yes. You’ll usually have no problem finding an insurer until you turn 60 years old. Between 60-75 options may become more limited, and after that it can be difficult to find Life Insurance as you’ll be past the ‘maximum entry age’ for most policies. If you’re a little on the older side, speak with our brokers and we’ll help you find what options are available to you.

Yes. As a couple you’ll be looking for a joint policy (also referred to as a ‘multi-life’ policy). These policies will usually allow you to nominate the cover amount by person.

02 4334 3622