1.3K
Fortunately, all is not lost. Most people are unaware that they can cancel the bank’s insurance and get a new policy with an insurance company. Experts agree that this is the smarter option.
The Institute of Family Savings estimates that we can save an average of AUD 300 per year by switching.
How to Choose the Best Life Insurance According to Experts
The first piece of advice from experts is to avoid bank life insurance whenever possible. Reports from the Australian Consumer Association and independent consultancies like Financial Globe reveal that life insurance tied to a mortgage with a bank can be up to 80% more expensive than insurance from a company.
