Macquarie Term Life Cover

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One thing that we all crave in life is peace of mind for ourselves and our loved ones. However, life can throw many curve balls at us and this can make it difficult for us to enjoy the reassurance and peace of mind that we want, as we just never know what fate has in store for us around the corner.

Financial security and peace of mind is something that is very important to the vast majority of us, as we want to ensure that there are no financial pitfalls that could suddenly bring our world or that of our loved ones crashing down around us. However, there are many different factors and situations that can have a serious negative financial impact on the household.

As of 1 October 2016 all Macquarie Life Insurance products and policies have been transferred to Zurich. All Macquarie Life Insurance products are now issued by Zurich and any policies that were previously issued by Macquarie Life are now administered by Zurich.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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One of the things we all prefer not to think about is our own mortality but it is important to consider what the financial impact would be on your loved ones if you were to die. Of course, your death would result in untold grief and stress for your family but what if they were also left to deal with huge financial worries on top of all that? With a good life insurance plan in place, such as Macquarie Term Life Cover, you can make sure that no matter what happens to you your family will not be left suffering financial problems in the future.

What are the benefits of Macquarie Term Life Cover?

With Macquarie Term Life Cover both you and your loved ones can benefit from valuable peace of mind and financial protection for the future. In the event of your death your family will be left to deal with a range of financial issues, which could include anything from closing your financial affairs and paying off debts to keeping on top of the mortgage/rent and bills. If you are a main income earner and have dependants that are reliant on you, it is even more important to have some sort of protection in place, such as that offered by Macquarie Term Life Cover.

With Macquarie Term Life Cover you can ensure that if something happens to you, your family will receive a payout for the sum insured, which will able to benefit them in many ways, such as:

  • Being able to deal with your funeral expenses and close your financial affairs
  • Being able to pay off any debt to avoid having the burden of additional outgoings each month
  • Ensuring that mortgage or rent payments can be made on time and keep a roof over their heads
  • Being able to pay the household bills and pay for essentials, such as food, clothing and for the kids' education

If you have young children who require daytime care you may also have to take into consideration the possibility of your partner having to give up work to care for them fulltime, in the event that this is one of your responsibilities or if you have arrangements in place that would no longer be financially viable if you were no longer around.

There are many different areas of your family's lives that will be affected in the event that you are no longer around, and whilst life will still be difficult once you are gone, having financial protection in place will ensure that they do not have the added stress of money worries on top of having to deal with their grief.

Another thing you have to consider is what would happen to your family financially if you were to be diagnosed with a terminal illness. Not only would you no longer be able to work and bring in any money but your family would have to combine caring for you with keeping the household running, which would become increasingly difficult, particularly if you are a main income earner. With Macquarie Term Life Cover you would receive a payout if you are diagnosed with a terminal illness, which can really help to ease the burden for both you and your loved ones at a time when money worries are the last thing you need to be thinking about.

MLC Term Life Insurance Features and Benefits

With Macquarie Term Life Cover you can take out a minimum of $100,000 in cover, whilst the maximum level of cover is $1,000,000. Cover can be applied for in $50,000 increments over $100,000. In order to be eligible for the cover you must be aged between eighteen and sixty and you have to be a resident of Australia. The cover can continue until the anniversary of your policy once you reach the age of sixty five.

Of course, as with any insurance cover there are restrictions in place with this cover, and you must make sure that you check these details carefully so that you know exactly what you are and are not covered for under the plan.

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