Death and disability insurance

Markit

Call my agent Mr. Wong +62 812 362 7979 He's a pretty good agent representing the gamut, not just one company, and does OK English too - I have him for several things. As usual tell him Mark sent you to keep them kosher.

DenpasarHouse

Just in case you didn't already know, the cheapest way for Aussies to get Life and Disability Insurance is through their super fund. See here: Life insurance and super: 10 things you should know - SuperGuide.com.au However, I'm not sure this covers you if you're not a resident of Australia. Probably not.

hinakos

Hi all, Im looking into death and disability insurance. IT gets a bit expensive when you were born in one country and have a home there, live in another country and have a home there (Bali), and work in yet another country. ( work month on / month off) Ive been quoted the following by a company called Macquary Life (an Australian insurance company) Death - roughly 1000$ for 500,000$ coverage per annum Disability - roughly $2600 for 200,000$ coverage per annum TOTAL = $3600 BUT When i mention I am not a resident of my home country nor the country of my assignemnt (employment), its load with a cost of 2$ per every 1000$ payable in the event of death disability Meaning the new total is: Death - roughly 2000$ for 500,000$ coverage per annum Disability - roughly $3000 for 200,000$ coverage per annum Total = $5000 This is not a policy that matures and i collect (term insurance) - its just a straight policy. I usually wouldnt worry about this but with new kiddies and commitments here there and everywhere cant be leaving them in the lurch if I die. Anyone else dealt with this kind of thing before or know where i can get a cheaper policy? Regards Hinakos

mugwump

hinakos wroteHi all, Im looking into death and disability insurance. IT gets a bit expensive when you were born in one country and have a home there, live in another country and have a home there (Bali), and work in yet another country. ( work month on / month off) Ive been quoted the following by a company called Macquary Life (an Australian insurance company) Death - roughly 1000$ for 500,000$ coverage per annum Disability - roughly $2600 for 200,000$ coverage per annum TOTAL = $3600 BUT When i mention I am not a resident of my home country nor the country of my assignemnt (employment), its load with a cost of 2$ per every 1000$ payable in the event of death disability Meaning the new total is: Death - roughly 2000$ for 500,000$ coverage per annum Disability - roughly $3000 for 200,000$ coverage per annum Total = $5000 This is not a policy that matures and i collect (term insurance) - its just a straight policy. I usually wouldnt worry about this but with new kiddies and commitments here there and everywhere cant be leaving them in the lurch if I die. Anyone else dealt with this kind of thing before or know where i can get a cheaper policy? Regards Hinakos

mugwump

Sorry my reply did not follow with your message. Term insurance pays off only in the event of death, and for a given term, ie. 10 years. The devil is in the details with disability insurance: 1. what is the definition of total disability or partial disability? 2. How long will benefits be paid? 3. Your particular field of work will determine whether you qualify for disability insurance and the terms. 4. Cheaper doesn't mean better, and be very sure about where the policy is underwritten and where coverage applies. Sorry I couldn't have been more help, but it is a very definitive subject when disability is involved. With death it isn't; you either are or your not, but know how long the coverage exists, whether the premium is fixed or increasing each year or declining in coverage. Try an international company such as Allianze (sp.)

hinakos

Yep ive read the policy back to back, its about the quintillianth contract ive signed - the issue is not the content. its the cost. I cant get it in conjunction with Super - im a non resident for tax and haven't contributed to oz super for 10 years as such. Mr Wong? Ok ill give it a shot