FAMILY & LIFE INSURANCE POLICIES FOR COUPLES
When both partners are employed, you can get a life insurance policy for couples that can help replace a partner's income in the event of their death. We also recommend this life insurance for younger couples who are still in the early stages of building a solid financial foundation for themselves. Weddings can be costly, and if the couple is covering most or all of the expenses, this type of dual life insurance can lessen the financial impact, should the worst happen.
FAMILY & LIFE INSURANCE POLICIES FOR COUPLES

Family & Couples Life Insurance

It often makes good sense to get Life Insurance for both partners, even if only one is working and you have no dependents. As well as the added protection, most insurance companies also offer Couples Life Insurance premium discounts of 5-10% compared with individual life policies. Hence taking joint life cover when you're married is a definite plus. Moreover, you make a secure investment and save more with every premium paid. When it comes to taking care of your family, getting a joint life insurance policy is the most brilliant move you can make. Family Life Insurance helps ensure your family's financial security in the event of your death, diagnosis of a serious medical condition or a terminal illness. Then, the insurance company pays a lump sum benefit to the beneficiaries of your choice in case of your demise or if you become permanently disabled. However, not all insurance policies are made equal, and you need to compare life insurance quotes before deciding. As your insurance adviser, we provide you with valuable tips to select life insurance cover that addresses your financial obligations and goals. But your first move is to obtain life insurance quotes for various types of life insurance before making a decision. Then, your best course of action is to contact us to help you compare life insurance premiums and products to get you on the right track.

FAMILY AND COUPLES LIFE INSURANCE

To understand life insurance for the family and couples, it is best to go back to basics. We need to unpack what life insurance is and provide you with some background knowledge of why you would need it.

Firstly, you are a person regardless of who you are, your economic status, station in life, age, gender, or single or married status. Secondly, we live in a time where there are no absolutes. Consequently, an unexpected turn of events can have devastating results leading to a partner’s demise or even the tragic diagnosis of a terminal illness.

A tragic outcome can frequently leave you and your loved ones in a vulnerable position emotionally and mentally. Still, the negative and devastating impact it can have on your income and finances could reach well into the future.

Life insurance for the family and couples then becomes imperative to minimising the unfortunate results of such occurrences. A life insurance policy will provide you with the necessary confidence and the tangible help you need in a dire situation. In addition, life insurance can aid you in covering the expenses that you would typically deal with together as a couple and in a family setting.

Think about all the financial commitments you have every month. Most households have personal loans or a mortgage, car payments and educational expenses for children, etc. Covering bills and costs and providing for your children should not be a nightmare.

Life insurance is a vital step for any individual, couple, or family. Regarding caring for your family, getting a life insurance policy is the most brilliant move you can make.

If something should happen to you or your partner, the insurance company you have chosen will pay a lump sum benefit to the beneficiaries of your choice. You can use the benefits for the following:

  • Meet mortgage payments
  • Maintain your property
  • Pay off outstanding debts
  • Pay household bills and day-to-day living expenses
  • Maintain your current lifestyle
  • Support your spouse and children
  • Pay for your kid’s current and future education fees
  • Cover your loved one’s burial expenses 

Not all insurance companies or policies offer the same benefits, so it will be best to compare life insurance quotes and the terms and conditions of each before deciding.

Our highly competent insurers and brokers at WealthSmart will provide you with personalised guidance and valuable tips to select life insurance cover that addresses your financial obligations and goals and, in the process, the wellbeing of your loved ones. We can help you compare quotes, premiums, and policies and answer any questions you may have, so let us help you protect your future.


Why choose us
Quote yourself in 2 minutes, then compare life insurance premiums, and choose your own life insurance policy.
Call our experts to ask any questions about life cover, how much life insurance you need, life insurance tax-deductible benefits, and the lump sum payment options available.
We will take you through each step of the process to bring your life insurance policy into operation.
GET LIFE INSURANCES QUOTES
Compare life insurance quotes from Australia's leading life insurers. Find out about the various types of life insurances, income protection insurance, and calculating life insurance premiums today.

WHAT LEVEL OF LIFE INSURANCE COVERAGE FOR COUPLES SHOULD YOU GET?

There are three main areas to consider when you compare different types of life insurance policies. Included in these considerations, ask how much cover you need to protect your income, living expenses if you become permanently disabled or questions about direct life quotes:

Income

If only one partner earns a salary, that partner should insure themselves for a more significant amount. If both partners make a similar amount, a joint life insurance policy with comparable coverage for each partner will ensure family living expenses will continue to be covered if one partner passes away. At Smart Life, we offer life insurance to suit every target market determination, so contact us to discuss the monthly benefit of taking out protection for your income.

Partner responsibility

While both partners support the family, one may be a stay-at-home parent, putting most of their time into keeping house and raising the children. These responsibilities may be worth a significant dollar sum in terms of childcare costs, hiring a housekeeper, gardening, and so on.

The critical point is to purchase life insurance for more than just income replacement, as many activities such as child-rearing can also have a significant dollar value. In addition, taking out direct life insurance can mean the difference between supporting your family’s comfort or leaving them to struggle if you fail to take responsibility for your partner.

Risk of injury or major illness

If you have a family history of pre-existing medical conditions or serious illnesses, you need a life insurance policy. Getting life insurance as a couple is a wise choice regardless of your income level. It may also be worth considering taking out TPD (Total and Permanent Disability) insurance to bridge the gap between waiting periods while waiting for a life cover policy that pays a lump sum.

WHEN SHOULD MARRIED COUPLES TAKE OUT LIFE INSURANCE?

Like individual life insurance, it is a good idea to obtain life insurance when you’re married and still relatively young and free of health issues. If you use this strategy, more insurance options will be available to you during this time, and the life insurance costs are much lower.

However, any pre-existing medical conditions will form part of the premium calculation, so be aware of this factor when speaking to your financial adviser.

Unfortunately, many couples leave this life insurance decision until it’s too late, when their partner is already deceased, or when health problems arise. So instead, make the wise choice to get income protection and life insurance while you’re still young.

CHOOSING LIFE INSURANCE POLICIES FOR COUPLES

Having the correct type of life insurance is about more than replacing you or your partner’s income should the worst ever happen. It would help if you took some time to think about the actual dollar value of everything you and your partner do for your family.

Whether looking after the kids, performing home maintenance, doing the weekly shopping, or planning for funeral costs, taking responsibility for choosing the best life insurance policies now, provides security later.

Wealth Smart’s advisers have the insurance industry knowledge and expertise to help you make the right decision, ensuring your family will always be protected. Do not hesitate to seek professional advice when you decide that you need life insurance sooner rather than later.

WHO IS ELIGIBLE FOR FAMILY LIFE INSURANCE?

Family life insurance can be an affordable life insurance policy that secures your family’s future, starting from just $1.50 a week. All Australian residents between the ages of 18 and 64 can apply.

Family Life Insurance premiums can vary according to several factors, including:

  • Your age and gender
  • Whether or not you smoke
  • Your occupation

Most life insurance policies are similar in their conditions and level of coverage and do not necessarily require a medical history or blood tests. But, for all the types of life insurance policies you explore, always read the product disclosure statement to cover all your bases.

Call us now to discuss your life insurance options, life insurance cost, and other details regarding a lump sum payout and additional information with our experts. Life insurance explained by professionals is the one thing that can help you secure your financial future.

WHAT TYPES OF FAMILY LIFE INSURANCE ARE AVAILABLE?

Most life insurance policies offer a similar level of benefit, and you can tailor a family life insurance policy to suit your family’s specific needs, including the amount paid out to beneficiaries. If your family has young children, for example, the lump sum payout may need to be around 10-12 times your family’s annual taxable earnings to ensure you meet their needs for some time after your death.

Another benefit of many life insurance products is that they are tax-deductible, so speak to us about all your life insurance needs today to explore all your options together.

CHOOSING FAMILY LIFE INSURANCE

Family Life Insurance is the best way to ensure your partner and children can continue to enjoy the lifestyle you have worked so hard to provide. This financial provision is especially critical should you suffer total and permanent disability or other misfortune. In addition, in the case of a serious illness, you can use a terminal illness benefit that helps family members cope with this type of situation more easily.

As a reputable insurance company service provider, Wealth Smart understands that the process of comparing life insurance policies is vital to suit your financial circumstances.

Wealth Smart also appreciates that choosing a family insurance policy that is right, not just for you but for those who depend on you, can be a daunting and time-consuming task.

That’s why we are committed to making the job as easy as possible, helping you with death cover where possible and limiting waiting periods for lump-sum payouts.

We offer a straightforward, comprehensive, and objective comparison of family life insurance options from leading providers so you can make an informed choice that suits your unique situation and budget.

You will have peace of mind knowing your family will always be looked after when you take out the best life insurance policy, trauma insurance or life cover to help pay for living expenses. So, call us for life insurance quotes to make a meaningful difference in your life and that of your loved ones.

OBTAINING A FAMILY OR LIFE INSURANCE QUOTE FOR COUPLES
Family or life insurance for couples can be the best and most cost-effective way to secure your family's financial security should the worst happen to either partner. Wealth Smart compares family and life insurance for couples products from the leading life insurance providers to give you the best and most comprehensive financial advice. We help you find the life cover policy that is the right fit for you and your partner's financial situation and personal circumstances that gives you both peace of mind. Moreover, you can qualify for certain types of life insurance without needing a medical history, so call us today. Whether you buy recovery insurance, get life insurance, funeral insurance, or any other type of cover, always check the product disclosure statement for your protection.
OBTAINING A FAMILY OR LIFE INSURANCE QUOTE FOR COUPLES
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