Aug 2026
- You can pay for it via super. This means it comes from money you wouldn’t have access to until you retire, so no cost to you in the short term.
- Default super-provided life insurance is not fully underwritten. Assessment happens at claim time.
- All retail life insurance providers take significant commissions; of ~15% of the policy cost. Except NobleOak. Unfortunately, NobleOak does not let you pay via a standard super fund.
- There are some companies which give you a rebate for most of the standard commission, like keepinsuranceco.com.au, which seems like a good option, if you can stomach the greater data security risk.
- Most life insurers provide age-stepped vs level premium options. You want the age-stepped option, it’s cheaper upfront, and your opportunity cost is super returns.
- You should get life insurance as soon as possible, not just when you have dependents - if you develop a pre-existing medical condition between now and getting dependents you will find it very difficult to insure yourself.
- If you work in tech you probably need multiple millions of cover. H/T patio11
- You may be tempted to get Income or TPD insurance as well. I don’t understand it, the definition of disability is less clear cut, and it’s not clear that there is value in buying it.