Frequently Asked Questions

Life Insurance encompasses a range of different products designed to protect you and your family from events that can occur including death, loss of income, total and permanent disability and major illness. Some offer lump sum payment, others provide ongoing financial support. Our Advisers can ssist you with protecting you against accident, illness, disability and death.

Life Insurance is an essential part of life. Most people understand the importance of life insurance to protect their assets, future and loved ones, yet many wait until an important life event or health scare prompts them to secure a policy. Life insurance is an investment in your peace of mind and the sooner you obtain it, the les pre-existing condition exlcusions are likely to apply and the more affordable your policy is likely to be.

The top 10 Australian retail life Insurance providers offer similar cover with varying exceptions for certain occupations or pre-existing conditions. It can be difficult to understand and compare the different policy terms and restrictions. Help Me Choose Insurance deal with a range of insurers and our expert advisers can help you apply for a policy based on your requirements.

Life Insurance is designed to insure your life and pays a lump sum to your dependents if you pass away or suffer a critical illness or injury. Income Protection insures your income and pays up to 70% of your salary if you are temporarily unable to work due to illness or injury.

You may already have some level of life insurance through your super fund however the amount of cover is usually low, payout can be delayed, and there could be tax implications for death benefits.

Income Protection Insurance premiums are generally tax deductible for some tax payers for the portion of the premium that is paid outside of your super fund. Premiums for Life, TPD or Trauma cover are not usually tax deductible. If you are purchasing cover for business purposes, you should speak with your accountant or financial adviser to determine any tax implications.

Yes! We can work with you to nominate whomever you choose. If you nominate to include more than one beneficiary, you will need to decide on the proportion of the total benefit you would like each person to receive at the time of selecting your cover. You can update your beneficiaries at any time.

It is easy to change your policy should you need to. Speak to your adviser or email sam@oasisinsurance.com.au with your required changes and we will be in touch to ensure that your new requirements are accommodated and that you understand what those changes mean for you.

It is important to discuss any pre-existing medical conditions with your Adviser when applying for any life insurance products. Once you are covered, you will remain insured even if your health changes.

Statistics show that almost 95% of Australians are underinsured, meaning they either have no insurance or have paid for an insurance policy that doesnt cover the full cost of their potential loss or the financial impact on themselves or their family or business. Not having insurance can erode savings and assets or result in significant financial hardship.

Purchasing an insurance policy direct is often convenient (buy over the phone or sign up online) and appears to be the cheaper option, however Direct Insurance provides limited cover, your premiums can increase with age, and underwriting is only usualy done at the time of claim which can result in a high percentage of claims being declined. Applying for insurance via an Adviser or Authosied Representative will ensure your policy is underwitten at the time of application and that guidence and advice will help you choose the cover best for you. Retail insurance policies provide extensive cover which menas you can be sure of better insurance coverage with lower premiums and a high claim approval rating.

We are unable to give advice on which policies to take out, nor can we offer any advice on how much cover you need. Most people will consider the following when deciding on how much cover they need:- * Level of debt they currently have * Level of any future debt you are looking to take out * How much money will my family need to live on if I pass away * How much money will I need to live on if I am totally and permanantly disabled * How much money will I need if I am diagnosed with a serious medical condition such as cancer If you are still not sure how much cover you need, you can visit the Australian Governments Moneysmart website. They have an insurance guide which will suggest what type of cover you need and how much cover you need. You can access the calculator by clicking the button below.