Our life insurance department is going through some changes right now and we are not providing new quotes.
We can still provide quotes and coverage for personal accident and sickness insurance however. Call us on 1800 808 800 to speak with a specialist.
Click here for more information on the above.
The information below is for general information purposes only, as we no longer deal in this form of insurance.
We have access to Australia’s best providers of life insurance for tradespeople and can get you covered quickly with minimal paperwork.
For a quote please complete our online quote request or call our team on 1800 808 800.
Trade Risk Life Insurance Benefits
- Competitive premiums for most trades
- Deal with our trade experts, not call centre operators
- Quotes within 24 hours and cover over the phone
- Pay your premiums annually or monthly
- 24 hour cover on and off the worksite
- We can also assist with public liability and tool insurance
It’s an unfortunate fact that many tradies are killed on worksites around Australia every year.
You don’t have to work in high risk environments either, which was proven last year when a painter in Canberra lost his life after falling from the roof of a single storey home.
Here at Trade Risk we can’t stop tradies from dying (we wish we could) but life insurance can help to prevent what happens next, which in most cases is financial hardship for the tradie’s family.
Protecting Your Family
As a tradesman you work hard every day to build a better life for yourself and for your family.
But what if something happened and you were suddenly gone? What would happen to that better life you had envisaged for your wife and kids?
Of course your family are going to suffer emotionally, but at least you can save them from suffering financially which usually only adds to the stress.
What Is Life Insurance?
Life insurance pays your family a lump sum amount which can be used for any purpose they see fit.
Most policies will also pay a benefit if you are diagnosed with a terminal illness and a have a life expectancy of less than twelve months.
The policies that we offer here at Trade Risk feature 24/7 worldwide coverage. It doesn’t matter if you are killed on the worksite or die from an unrelated illness – either way you will be covered.
The 24/7 nature of life insurance is one of the areas where this type of cover really differs from worker’s compensation and similar schemes.
How Much Do I Need?
The amount of cover that is right for you really depends on your own needs and objectives, as well as how much you are willing to spend on premiums.
Ideally you should have at least enough to repay your mortgage and any other debts you have, along with providing some level of financial buffer for your surviving family.
At the low end some tradies will just pluck a figure from the sky, say $100k, and decide that’s all they’re willing to leave their family.
At the top end of the scale some tradies want to make sure that their family will never had to worry about money again.
This may mean a life insurance policy of one million dollars plus is required, but if you are someone who would do anything for their family, this is an effective way of doing it.
How Much Does It Cost?
Tradesman life insurance premiums are based on a number of factors including your age, smoking status, gender, occupation and the amount of cover required.
For a young non-smoker the premiums for life insurance can be extremely low, and far less expensive than other forms of trade insurance such as public liability and income protection.
The cost does increase considerably as you pass through your late forties and fifties, but often a tradie will need less cover by this stage as they will have repaid most of the mortgage and their children may be financially independent by now as well.
Is It Worthwhile?
Being an insurance business of course we would say yes, but we really do genuinely believe that life insurance is a must for any tradie with a family.
Thankfully deaths amongst tradespeople on site are lower in Australia than many other countries, but figures show that around forty tradies are killed on worksites every year, and this is expected to increase to fifty a year by 2014.
And these figures ignore all of the deaths that occur away from worksites, such as vehicle accidents, major illnesses and sadly even self harm.
Just on the topic of self harm, the life insurance policies recommended at Trade Risk do cover suicide, but only after the policy has been in place for a period of thirteen months.
Unfortunately many tradies feel that they are bulletproof and do not need life insurance, but the sad fact is that none of us are bulletproof and bad things can happen to good people.
If you would do anything to look after your family, the easiest way to start is to ensure they are properly looked after financially via life insurance.
