Private Health


Money Smart


Bill Relief Insurance

Paying bills is a nightmare that we must all live through and for most of us can't be avoided. Some can easily swing through it, while some struggle every week to pay for their necessities: groceries, gas, water, electric, credit, gas, mortgage loans or rent. Then there's "luxuries" that are slowly becoming necessities: internet connection, cell phones, landlines, TV.

Whether it's easy or a struggle, there are unforeseen events that all of us can fall victim to: serious illness, injury or redundancy may render you unable to work. How would you make ends meet and pay your bills if you weren't able to bring in an income? Even if you don't work to bring in income for instance, a stay at home mom this could bring a hardship on your family as well. If you weren't able to care for your children, what would you do? Would you be able to afford childcare? Who would do the cleaning? Cooking? Fortunately there are some insurance providers that can cover and protect you if you fail to meet up with your debts.

Bill Relief Insurance is usually inexpensive, starting as low as a few dollars a month. Most insurers offer a guaranteed acceptance to any Australian aged between 18 and 59, typically up to 2 years. Cover is available even if you're self-employed or a stay at home mom, with the ability to choose your cover level and claim up to a few thousand dollars a month under most policies. Payouts can be offered through direct bank deposit or cheque. Many optional covers can also be purchased, such as:

  • Kids Injury Cover, which will pay out for a number of common childhood illnesses or injuries.
  • Holiday Injury Cover, which recognizes that your expenses may be higher than usual if you become ill or injured while away from home. Benefits will usually begin faster or even pay out double for your first month if you have Double Holiday Injury Cover.
  • Unemployment Cover, which will help pay bills if you lose your job. This type of policy typically has a waiting period before benefits are available.

The premiums for Bill Relief Cover are usually tax-deductible, making it even more affordable and sensible choice for your family. Although you should keep in mind that your benefits would be taxed just as your normal income would.

Before signing up to any Bill Help or Bill Relief insurance, it is very important that you have taken the time to read through the Terms and Conditions, Policies, and Product of Disclosure. There are exclusions under these policies, such as intentional or self-inflicted illness or injury, drug or alcohol abuse or pregnancy. By checking out all aspects of the policy, it will give you a better glance of what you can expect and help you avoid any surprises if you need to claim.

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