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Life Insurance

Providing protection to your loved ones now and into the future should you pass away or become terminally ill.

What is life insurance?

Life Insurance provides a lump sum should you pass away or become diagnosed with a terminal illness. This cover is designed to provide for your financial dependents, replacing the income you would have otherwise earned but ultimately funds can be used for any purpose. Policies can be held through trusts, a company, superannuation or personally. The importance of your structure and beneficiary nomination cannot be overstated as this ensures the right amount gets to the right people in the right way.

Life Insurance
facts & figures

The below points are drawn from claims experience of Austbrokers Life from 1 July 2021 to 30 June 2022.


Average age
at claim


Paid under
terminal illness


Related to a
heart condition


Average amount
paid per claim*

*This figure has been reduced through inclusion of superannuation balances and pro-bono work.

More Information

Life insurance is commonly granted at an automatic / default level within a superannuation fund. Most funds will adjust this cover automatically with your age typically peaking at about $180,000 for 30 to 35 years old and reducing each year thereafter. Life insurance should be linked back to your needs and this most often includes your mortgage, other non-deductible debt, future education and child raising costs and providing for a spouse.

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