The Crow

I want to get life assurance for myself and possible transfer OH's over. Can anyone recommend some Australian companies to try - we used Direct Line in the UK. I did a quick search on here, but didn't find much.

Thanks

Rachel

phoenixinoz

Try your bank.

They may give you a good deal if you have other products with them

The Crow

Thanks for the reply - I will try that option.

Anyone else out there with any recommendations?

Cheers

Vash the Stampede

What's "life assurance"? I've only ever heard of life insurance, but since coming to the UK, it's all "life assurance." What's all that about? Is it the same as life insurance? If so, why not just call it "life insurance"?

I don't need to pay some company to assure me that I'm alive - I already know that!

Del Boy

insurance against death ? hmm.......

Vash the Stampede

ub40fan

Isn't the difference that

Insurance only pays out when/if you have a claim

and Assurance is for a fixed term and pays out at the end of it, sometimes with profit

So if you have life assurance at the end of say 25 years you get a lump sum, but have to take out a new policy.

tabby

After speaking to the bank and other life insurance companies we were advise to up ours through are super that way the it only cost around $12 a month

GinaUK

In every day usage, the two words "insurance" and "assurance" are used interchangeably. In other words, both life "insurance" and life "assurance" are the same thing.

But strictly speaking, you "assure" yourself against an event that will definitley happen. And you "insure" yourself against an event that may or may not happen.

Therefore, striclty speaking, you buy life "assurance" which pays out when you die (and we will all die some day, i.e. it's an event that will definitely happen to you).

On the other hand, you buy home contents "insurance", which pays out if you get burgled, which may or may not happen to you. And similarly, you buy (comprehensive) car "insurance", which pays out if you have a car accident or the car gets nicked. Again, these events may never happen to you.

Hope the above examples make it clear, Vash.

Gina

The Crow

Very well explained - thank you Gina!!

The Crow

Thanks - may be my OH could do that. But I'm not working so will have to look at other avenues. Looks like I'll have to do the research myself - I'm so lazy

Vash the Stampede

I see. Very well explained, thankyou Gina.

JaneandJim

I used these people and they were excellent. They find the cheapest quote for your circumstances. You can enter your details online, whereas most companies here want to see you or have you phone them. I'm now insured with Aviva so they use the big companies.

http://www.boyleinsuranceservices.com.au/

Jane
P.s. I got a reply the same day which is almost unheard of here.

kevinl

You normally find Life Insurance is called Term Insurance because it has a life, eg 25 years rather then Assurance that has no term and runs until you die.
Insurance will be cheaper as it won't defiantly have to pay out, if you outlive the term, whereas life assurance will pay out at some point.

Kevin

The Crow

Thanks Jane - that's really straightforward - just how I like it