Direct Life Insurance

What profile are you?:
Age	Young (20-29 yrs) Middle (30-45 yrs) Mature (46-55 yrs) Empty Nester (56-60 yrs)
Gender	Male Female
Smoking status	Non Smoker Smoker
Star Ratings & Methodology (PDF) ...

In comparing direct life insurance policies this year, we have tweaked our methodology somewhat to ensure continuing relevance. We looked at policy features, as well as the cost across two levels of coverage - $200,000 and $500,000.

We used 4 common profiles:

1. Young – aged 20 - 29 years
2. Middle – aged 30 – 45 years
3. Mature – aged 46 – 55 years
4. Empty Nester – aged 56 - 60 years

We then drilled down into gender and smoking status. The insurance industry treats smokers as standard but gives a discount to non-smokers, commonly defined as those who have not smoked in the last 12 months.

Finally, we weighted price and features equally at 50:50 to come up with a score for each product.

How is 'direct' life insurance different to life insurance?

Direct life insurance can provide a payment to your loved ones in the event you die, but does not cover other events. Direct life insurance can be simpler and easier to purchase as there is no involvement by a financial planner required.

Direct life insurance requires nil or minimal medical information and applications can be completed online, in the branch or over the phone.

What is direct life insurance ...

Our research revealed three insurers who offer five star outstanding value direct life insurance products. We congratulate Allianz, Real Insurance and Medibank Private on this achievement.

Tailor cover to your profile

We have researched and compared policies across four different age profiles.

Myth buster - 'Life insurance companies don't pay up'

Is this just an urban myth? We look at the payout figures from recent years.

Most families unprepared for death

63% of surviving partners and children had less than a one week warning of the death of a parent.

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