With so many ads on television and some other professionals offering a ‘No-Advice’ solution to your life and income insurance enquiry, you need to know what you are getting.

Firstly, you need to know that there is two insurance industries: A General Insurance Industry & a Life Insurance Industry.

Life Insurance companies normally only offer Life Insurance, Income Protection and Superannuation. Some companies like AMP & Zurich can offer both, but are ‘Primarily’ a Life Insurance company.

General Insurers are easily recognised by those who offer products such as: Car Insurance, Health Insurance, Workers Comp, etc. Some general insurers have moved into the Life Insurance space. The policies offered by the likes of iSelect, MBF, InsuranceLine, and in some cases, Tower.

Many times, the general insurance policies will offer a cheaper premium. The main reasons for this is these policies are a ‘Non-Renewable’ policy, which means that the insurer reserves the right ‘NOT’ to renew your policy each year.

A ‘Guaranteed Renewable’ policy, offered by the Life Insurers, means that once they accept your policy, they ‘guarantee’ that they will renew your cover each year, as long as you continue to pay your premiums.

We have knowledge in all areas of personal risk insurance, so if you are unsure, contact us to ensure you are getting the right cover.
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