Getting advice

Why do I need financial advice on life insurance?

Life insurance is a very personal product. There’s only one of you. And your cover needs to be tailored to your circumstances, and your budget.

The amount of cover you need, and the types of cover you need, can vary greatly depending on your individual circumstances.

Besides, not all insurance policies are created equal – some have additional, and included, benefits and features.

An adviser can also help you make your insurance more affordable by recommending strategies including:

  • taking advantage of the tax-effectiveness of insurance inside super
  • combining your cover with a family member to reduce your premiums
  • choosing the right combination of benefits and extra options.

By looking at your income, your debts, and your family’s circumstances, a financial adviser can help you get the right cover – and the right structure – to meet your needs and your budget.

How does the financial advice process work?

Once you’ve been put in touch with a qualified financial adviser in your area, they will contact you to arrange a time to meet.

This is what normally happens next:

Step 1

You meet with an adviser, and they give you their Financial Services Guide (FSG).

Step 2

Your adviser gets to know you and your circumstances – including income, debt levels, medical history.

Step 3

Your adviser presents you with a Statement of Advice – incorporating their recommendations and the expected costs.

Step 4

You decide whether or not to apply for life insurance.

What does a Financial Services Guide (FSG) tell you?

A Financial Services Guide – or FSG – is a document that a financial planner is required to give you when you first meet with them. It gives you information about the advice process and outlines their experience and credentials, including:

  • whether the financial planner is licensed
  • who they work for
  • how they will charge you
  • the range of services they offer
  • their associations with investment companies
  • what to do if you have a complaint.

What does a Statement of Advice tell you?

A Statement of Advice is a document that an adviser is required to give you when it comes to recommending an insurance solution to meet your individual needs. It provides detailed information on:

  • the advice they’ve provided
  • the information it’s based on
  • how they get paid
  • any interests, associations or relationships they hold that could have influenced their advice to you.

This is general advice and does not take into account your objectives, financial situation or needs. Before acting on this general advice you should consider the Product Disclosure Statement and the appropriateness of the advice having regard to your situation and consult your financial adviser.

Contact an adviser near you

Together we can determine the most appropriate products for your needs, decide on the right amount of cover and structure your policies to suit your personal circumstances.

Talk to an adviser

Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website to view or download the policy.

Asteron supports and adheres to the Life Insurance Code of Practice (Code). The Code has been developed voluntarily by the Life Insurance industry through the Financial Services Council to promote high standards of service to consumers, provide a benchmark of consistency within the industry, and establish a framework for professional behaviour and responsibilities. Download the Code here. For more information contact the Financial Services Council on (02) 9299 3022 (local call cost), email or visit

© Asteron Life & Superannuation Ltd ABN 87 073 979 530 (Asteron). Registered Office, Level 16, 363 George Street, Sydney NSW 2000

Asteron Life & Superannuation Limited ABN 87 073 979 530, AFSL 229880 (Asteron) is part of the TAL Dai-ichi Life Australia Pty Limited ABN 97 150 070 483 group of companies (TAL). Suncorp Portfolio Services Limited ABN 61 063 427 958, AFSL 237905, RSE Licence No L0002059 (SPSL or Trustee) is part of the Suncorp group of companies (Suncorp). SPSL is a related body corporate of Suncorp Group Limited ABN 66 145 290 124 and Suncorp-Metway Limited ABN 66 010 831 722 (Suncorp Bank) (Suncorp). This product is not a bank deposit or other bank liability of the Suncorp Bank. The obligations of the different entities of TAL and Suncorp are not guaranteed by other entities