Life Insurance Broker: Protecting the People Who Matter Most
Life is full of plans—buying a home, raising children, building a business, and enjoying retirement. But if the unthinkable happened to you today, would those plans survive? For many Australian families, the loss of a primary income earner doesn’t just bring emotional devastation; it brings immediate financial crisis.
At Assurance Life Pro, we help you face these difficult questions with confidence. As your dedicated Life insurance broker, we provide sensitive, professional advice to help you build a fortress around your family’s financial future. We don’t believe in “set and forget” policies from a TV ad. We work with you to calculate your true needs and compare life insurance options from Australia’s leading insurers, ensuring that your legacy is one of security, not debt.
What Is Life Insurance Brokerage?
Life Insurance (often called “Term Life”) is a policy that pays a lump sum of money to your beneficiaries if you pass away or are diagnosed with a terminal illness.
A broker’s role is to ensure this safety net is built correctly. Unlike direct insurers or superannuation funds that offer generic, “one-size-fits-all” cover, a broker acts as your personal architect. We assess your debts, your children’s education costs, and your partner’s future income needs to structure a policy that actually fills the gap you leave behind. We navigate the complex world of medical underwriting to find you the best terms, even if you have health issues.
Who Needs Expert Life Insurance Advice?
If anyone relies on your income to survive or maintain their lifestyle, you likely need life insurance.
Parents & New Families
Raising a child in Australia is expensive. If you were gone, could your partner afford childcare, school fees, and daily living costs on a single income? We help parents calculate the “replacement value” of their contribution—whether financial or as a stay-at-home parent—to ensure the children’s future is never compromised.
Mortgage Holders & Homeowners
For most of us, the mortgage is our biggest debt. Life insurance broker services are essential for new homeowners. We structure policies specifically to clear the mortgage debt upon death, ensuring your family isn’t forced to sell their home during a time of grief.
Business Owners (Key Person & Buy/Sell)
If you own a business, your personal and professional risks are intertwined. We assist with “Key Person Insurance” (protecting the business if a crucial staff member dies) and “Buy/Sell Insurance” (providing cash for a surviving business partner to buy out the deceased partner’s share), ensuring the business survives the loss of a leader.
Key Benefits: Why Compare Life Insurance with an Expert?
Many Australians mistakenly believe the default insurance in their Super fund is enough. Often, it isn’t.
Tailored Coverage Amounts: Default Super cover might offer $200,000. If you have a $800,000 mortgage, your family is still in trouble. We help you calculate the real number you need.
Guaranteed Renewability: Broker-advised “Retail” policies generally cannot be cancelled by the insurer as long as you pay premiums, even if your health deteriorates.
Tax Structuring: We can advise on whether you should hold the policy personally, inside your Superannuation (to help cash flow), or through a business, maximizing your tax efficiency.
Claims Advocacy: If the worst happens, your family shouldn’t have to fight an insurance company. We handle the claim for them, providing a compassionate shield during their most difficult time.
The Process: From Application to Peace of Mind
Getting life insurance is a rigorous process, but we manage the heavy lifting for you.
Needs Analysis: We sit down (or Zoom) to discuss your financial picture—debts, assets, and family goals.
Market Comparison: We compare life insurance premiums and policy definitions across the market (e.g., TAL, AIA, Zurich, MLC).
Pre-Assessment: If you have health issues (high blood pressure, BMI, past surgeries), we speak to underwriters anonymously before applying to see which insurer will offer the best terms.
Application & Medicals: We submit the application. If a blood test or doctor’s report is needed, we arrange it for you (usually at the insurer’s cost).
Policy Placement: Once approved, we set up the policy and ensure your “Beneficiary Nominations” are legally correct.
Eligibility & Application Steps
To apply for comprehensive Life Insurance, you generally need to be an Australian resident aged between 18 and 75.
The Application Requires:
Personal Health Statement: A detailed questionnaire about your medical history. Honesty here is critical to avoid “Non-Disclosure” issues later.
Lifestyle Questions: Smoker status, alcohol consumption, and hazardous hobbies (like skydiving).
Financial Evidence: For very high cover amounts (e.g., over $3 million), you may need to provide proof of income.
Don’t wait for a health scare to think about your insurance. By then, it may be too late.
FAQs on Life insurance broker
Is life insurance through a broker more expensive than my Super fund?
Not necessarily. While "Retail" policies (via a broker) offer higher quality cover, they can be very competitive, especially if you are in good health. The real difference is value. Super fund policies (Group Life) are often "unitised," meaning the cover amount drops as you get older, right when you might need it most. A broker-advised policy gives you a fixed amount of cover that you control. Plus, we can often structure the premiums to be paid from your Super balance, so it doesn't impact your monthly household cash flow.
Do I need a medical exam?
It depends on your age and the amount of cover. For standard amounts (e.g., under $1.5 million) and younger clients, a simple phone interview is often enough. For higher amounts or older clients, the insurer may request a quick blood test or a report from your GP. As your Life insurance broker, we arrange all of this for you, and the insurer pays the doctor's fees.
Can I get life insurance if I have a pre-existing condition (e.g., diabetes)?
Yes, in many cases. Having a condition doesn't mean you can't get covered; it just means the insurer needs to assess the risk. They might apply a "loading" (higher premium) or an exclusion for that specific condition. We know which insurers are most lenient with specific conditions (e.g., some are better for diabetics, others for mental health history) and will guide you to the right provider.
What is the difference between "Stepped" and "Level" premiums? Accordion Title
This is a crucial choice.
Stepped Premiums: Start cheap but increase every year as you get older. Good for short-term needs.
Level Premiums: Start more expensive but stay relatively flat over time. This can save you tens of thousands of dollars if you hold the policy for 10+ years. We help you model both options to see which saves you money in the long run.
Who receives the money if I die?
The "Beneficiary." If you own the policy personally, the money goes directly to the person you nominated (e.g., spouse). If the policy is inside Superannuation, the Trustee of the Super fund decides, though they usually follow your "Binding Death Benefit Nomination." We ensure these nominations are set up correctly so the money goes exactly where you intended, without delay.