Life Insurance Checklist

Taking out Life Insurance is a very important decision. You need to be sure that you have the right cover in place, so you'll know your loved ones will be cared for properly if something happens to you.

To help you we've compiled a checklist of things that you should make sure you know before you take out a policy.

Before you buy life insurance:

There are different types of life insurance that might be suitable for you, depending on your situation:

  • Funeral Insurance pays a lump sum to help cover the costs of a funeral and related expenses, in the unfortunate event of your death.
  • Life Cover provides a larger amount of insurance. A lump sum of up to $1.5M is paid out in the event of your death or if you are diagnosed with a terminal illness with a life expectancy of less than 12 months. It can be used for any purpose.

The 1300 Insurance Ezicover products are issued by Zurich Australia Limited. Each of these insurance products have specific eligibility criteria, terms and conditions, limitations and exclusions. These will be set out in the Product Disclosure Statements (PDS) available here. It's very important you read and understand the PDS documents before you purchase your insurance.

Everybody's situation is different, so what works for one person might not work for another. To decide how much you need there are a few things that you should think about:

  • Do you have a family that relies on your income? How much of money would be needed to sustain your family's lifestyle if you were no longer able to take care of them?
  • Do you have a mortgage or any other debt that would need to be serviced even if something happened to you?
  • If you became severely ill you might incur substantial medical bills.

These are just a few of things you should consider. To help you better calculate the amount of cover you might need we've created a handy Life Insurance Calculator.

We cannot overstate the importance of reading the Product Disclosure Statement (PDS) before making any insurance decisions.

The PDS will tell you exactly what it is that you are about to purchase. This will include details of:

  • the criteria you will need to meet to be eligible for that particular insurance product
  • the amounts that you can be covered for
  • any circumstances that arise where you will not be covered by the policy

You should be aware that there are no industry-wide standards for life insurance products. That means that a life insurance policy from one insurer will not necessarily be the same as one from another insurer.

You should pay specific attention to the exclusions section of the Product Disclosure Statement (PDS), as well as the definitions of cover, to ensure that you know the conditions you need to meet to be eligible to make a claim.

If you are uncomfortable or uncertain with anything in the PDS, please call us on 1300 Insurance (1300 467 872) to learn more about this insurance or talk to our experienced risk specialists.

Before you make any decisions about life insurance, you should double-check the Product Disclosure Statement (PDS) and ensure that you understand when you will and won't be covered. For example:

  • If you don't pay your premiums—even if it's because you are disabled and unable to work—your life cover will lapse. Please be aware that more than 60% of Australians will be disabled for at least a month during their working lives, during which time you still need to pay your life cover premium.
  • During the first 12 months from the start of an Ezicover Funeral Advantage policy (or from the date when the policy was reinstated), a benefit will only be paid if the death is a result of an accidental death. "Accidental Death" means death as a result of sustaining bodily injury caused by accidental, violent, external and visible means where death occurs within three calendar months of the injury being sustained.
  • For the first 13 months after taking out or reinstating an Ezicover Life Insurance policy we will not pay a benefit if you die or become terminally ill as a result of suicide or intentional self-inflicted injury.

These are only some of the situations where you may not be covered. To understand exactly what cover you will have you must download and read the PDS.

If you are still unclear about anything, please call us on 1300 Life Insurance (1300 543 346) before you make any decisions.

At 1300 Insurance we offer you the convenience of buying life insurance online, without medical check-ups or other hassles. Simply apply online now, or call us on 1300 Insurance (1300 467 872) to learn more about this insurance or talk to our experienced team.

This insurance product might be perfect for some people, but there can be a variety of reasons why you might want to talk to a life insurance broker instead. If you are unclear about anything you have read, would like personalised insurance advice, or would simply like to discuss your options, then contact our experienced licensed advisors today  on 1300 543 346.

You can also use our online form to request a life insurance quote tailored specifically to you.


1300 Insurance Ezicover Life Insurance is issued by Zurich Australia Limited (Zurich) ABN 92 000 010 195 AFSL 232510 of 5 Blue Street, North Sydney, NSW 2060. This information is of a general nature only and does not take into account your objectives, financial situation or needs. You should consider these factors and the relevant product disclosure statement (PDS), which contains details of conditions, limits and exclusions of cover, before making a decision regarding the product. 1300 Insurance is an Authorised Representative of Bombora Advice Pty Ltd (ABN 40 156 250 565 AFSL Number 439065), of Level 2, 406 Collins Street, Melbourne VIC 3000. 1300 Insurance promotes this product and if you buy an Ezicover policy, Bombora Advice Pty Ltd will receive a commission from Zurich of up to seventy percent (plus GST) of your insurance premium. This is then passed onto 1300 Insurance. This amount is paid by Zurich and is not an additional cost to you. Details of remuneration received by 1300 Insurance can be found in their Financial Services Guide.