ATTN Australia! is your Life Insurance Through Super?
Takes less than two mins to read
Simple to make a change
Get a free, quote from our expert team
Still pay through your Super but get a retail policy
We use the biggest life insurers in Australia
Compare a Retail policy vs Default (Super) Policy
Retail life insurance policies offer tailored coverage purchased directly from an insurer, while Default (Super) life insurance policies provide basic, often limited coverage bundled within a Super fund.
Frequently Asked Questions
Find quick answers to the most common questions below. If you need further help, feel free to contact us.
What is the different between a default and retail life insurance policy?
A default life insurance policy through Super is the basic life cover automatically provided to members of a Super fund, offering financial protection without needing to apply separately.
A retail life insurance policy is personalied life cover purchased through a insurance broker or financial advisor, tailored to meet the specific needs and circumstances of the policyholder.
Can they both be fully paid for through my Super?
Absolutely.
What are the differences?
Circumstances will vary, though a retail policy can often be cheaper. There are other benefits of a retail policy. Life insurance through super is not always cheaper.
Is it easy to switch from a default policy to a retail policy?
Absolutely. Get in touch and we can walk you through the process. Its easy.
Can I have TPD and income protection through a retail policy?
Yes you can. You can also get accident and tr
There is often not enough money for your family
Where you likely are
Where you need to be
PAYOUTS ARE SLOW
Payouts can take months and months and are ultimately at the discretion of the Super fund.
Almost half of Australians have less than $1,000 in savings.
32% could go to the tax man
Goes to the
tax man
From $1MIL
Life Insurance payout
Reference 3: If the beneficiary is not a tax dependant, they could be subject to up to 32% tax.
You’rE paying for smokers & Elderly
Default life insurance through Super means you're sharing a bulk policy with all the other members of your Super fund.
And you could be subsidising smokers and older members.
Reference 4: With young people and non smokers frequently subsidizing the premiums for older age groups and smokers.
Your payout is up to your Super find
Under a super policy, if there are no binding beneficiary nominations, the super fund trustees will have discretion about how and when to distribute the death proceeds.
Reference 5: If there are no binding beneficiary nominations, the super fund trustees will have discretion about how to distribute the death proceeds.Your insurance can be cancelled
Due to whatever circumstances, if you haven't made a Super contribution for 16 months, your life insurance policy is typically cancelled and you could be unaware.
Reference 6
You could be paying 3x the cost of a retail policy
Real Stories, Real Impact
See how others are sharing their experience with Lifed.
There are two certainties in life, death and taxes.
We can help with one.
Lifed helps Australians with default life insurance through their Super realise there are often better options. Get the best retail life insurance policy for you, possibly pay less and still pay for it through your Super: no need to switch Super funds.
Increase your life insurance through super
A retail policy could be cheaper and still paid for through your Super.
Compare Quotes Now
About Lifed
At Lifed, we're dedicated to helping Australians understand their life insurance options and take action.
Through our partnership with Life Insurance Direct, one of Australia’s leading brokers, we have access to some of the country’s largest insurers and competitive pricing.
Whether through Superannuation or a retail policy, our goal is to ensure every Australian is sufficiently covered and getting the best deal possible.