Life Insurance for Tradies

Most tradies choose to only take out the minimum levels of insurance in order to get themselves onto the worksite.

In most cases this means public liability and income protection, but there are other forms of insurance out there which are definitely worth considering.

The form of insurance we’ll be looking at today is life insurance.

You Already Have It!

That’s right, you most probably already have life insurance. Virtually all superannuation funds will have some level of life and TPD insurance included.

So if you have super (which is compulsory) you will already have some life insurance, but in the vast majority of cases the standard amount of cover will not be sufficient for your needs.

At an absolute minimum you should have enough to cover all of your debts and liabilities, and ideally you should have enough to look after any loved ones that you leave behind.

With the average life insurance amount in a super fund being around $150k, this is clearly not enough for most people.

Why Bother?

If you were to die, either on the job or elsewhere, what would you want to happen to your loved ones?

Obviously they will be going through some major emotional hardship, but do you also want to burden them with financial hardship on top?

Life insurance is simply a way of looking after your loved ones in the event of your death so that they don’t have to immediately worry about money in the aftermath of your loss.

Even if you don’t have a wife or children yet, you still don’t want to burden your parents or anyone else with the debts or other outstanding bills that you leave behind.

What’s It Cost?

For most young tradies the cost of life insurance will be surprisingly low.

The cost of the cover will vary depending on your age, occupation and smoking status, but for a young and healthy carpenter you could be looking at less than a dollar a day for decent cover.

The quickest and easiest way to get a quote is to visit our online quote request form and complete your details.

Here at Tradesman Insurance we specialise in insurance for tradies, and we’ll be able to assist you in obtaining quotes and information on your life and other forms of cover.