Comparing the cost of life insurance

Our cost of life insurance infographic shows that you can pay up to 17 times more for life insurance purchased from a car yard than you would if you bought standard life insurance from a life insurance company or super fund.

car insurance infographic part 1
car insurance infographic part 2

Comparing the cost of life insurance (Accessible text version)

You can pay up to 17 times more for life insurance from a car yard. 

Features of the insurance Car yard life insurance Standard life insurance Life insurance through super
How is it bought? Car yard (with a car loan) Calling a life insurance company Through a super fund
Total premium over four years $1,355 $240 $80*
Pay out 2 years into the policy $28,000
(the amount owing on the car loan)
$50,000 $50,000
Pay out 3 years into the policy $15,000
(the amount owing on the car loan)
$50,000 $50,000

* Calculated using a superannuation insurance calculator of a large public offer fund.

Don't get taken for a ride. Think carefully before you get life insurance with a car loan. Find out more about the pitfalls of add-on insurance.


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Last updated: 09 Sep 2016