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Life insurance



0Having adequate life insurance is an essential part of good financial planning.
Life insurance pays you or your dependants a lump sum payment or replacement income in the event of your death, disability, long-term sickness or injury.Without enough insurance cover, you and anyone who depends on you is exposed to a greater risk of financial hardship.

Life insurance products have many different options and conditions and broader coverage usually means greater cost. It’s really important to make sure you know what you want and to find out what is and isn't covered in the policies you are considering. Then you can be confident that the policy you purchase meets your expectations and bottom line needs.

Always take the time to think about a proposal and make sure you know how it works.

Many of us have life insurance through our superannuation funds. You can also buy insurance from financial advisers, brokers or directly from a life company.

Types of life insuranceApplying for life insurance
Claiming on your life insurance policyUnclaimed money from life insurance policies
TIPS! FIDO's tips for life insurance
  • Discuss life insurance with your partner and family.
  • Don't just insure the highest income earner in your household.
  • Check what life insurance you have through your super. You can usually buy extra life insurance through your super fund cheaper than buying it yourself.
  • Decide how much cover you need.
  • Read the product disclosure statement (PDS) which describes the product, its benefits and any limitations as well as its fees and charges.
  • Once you know which cover and how much you need, shop around to compare costs with a number of insurers.
  • You have a duty of disclosure. To meet this you must answer all questions on the application form truthfully, paying particular attention to any medical conditions and whether you smoke, otherwise your insurer may decide not to pay a claim.
  • Check if your product is inflation-indexed so your cover keeps up with the cost of living.


More help


Go to... Renewing your policy
Go to... What if your claim is rejected
Go to... How to complain


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