Insurers we work with
Paramedics provide an essential service across Australia, responding to emergencies and caring for people in challenging circumstances. Their work can involve long hours, irregular shifts and physically or emotionally demanding duties, which an insurer may consider when assessing an application.
Life insurance may help provide financial support for a paramedic’s family and loved ones if the insured person dies or meets the policy requirements for another covered event.
Although some paramedics may expect life insurance to be unaffordable, cover may be available at an affordable or competitive premium depending on the applicant’s circumstances and the insurer’s underwriting assessment.
Depending on the policy terms, life insurance, total and permanent disability (TPD) insurance, income protection insurance and trauma insurance may provide financial support following certain covered events. Product features, eligibility requirements, definitions, exclusions and claim criteria differ between insurers and policies.
If you’re a paramedic considering life insurance, a Curo adviser can help you understand your options and compare cover that could be right for you.
What is paramedic life insurance?
Life insurance for paramedics generally refers to personal insurance held by someone working as a paramedic. It is not necessarily a separate insurance product. When assessing an application, an insurer may consider the applicant’s occupation, duties, health, lifestyle and other underwriting information.
Life Cover for Paramedics
Life cover generally pays a lump-sum benefit if the insured person dies. Many policies may also pay an advance benefit if the insured person meets the policy’s definition of terminal illness. The applicable definition, exclusions and payment arrangements are set out in the policy documents.
Total and Permanent Disability (TPD) Insurance for Paramedics
TPD insurance generally pays a lump-sum benefit if the insured person meets the policy’s definition of total and permanent disability due to illness or injury. Depending on eligibility and the options offered by the insurer, a paramedic may be able to apply for cover using an own occupation, any occupation or activities of daily living definition.
| TPD definition | What it generally considers |
|---|---|
| Any occupation | Whether the insured person is unlikely ever to work again in an occupation for which they are reasonably suited by education, training or experience. |
| Own occupation | Whether the insured person is unlikely ever to work again in their own occupation, as defined in the policy. Availability and definitions vary between insurers, and this option may not be available for every occupation. |
| Activities of daily living | Whether the insured person is permanently unable to perform a specified number of personal-care activities, such as bathing, dressing, eating, toileting or transferring, without assistance. The applicable activities and claim threshold vary by policy. |
The meaning of each TPD definition and the requirements for making a claim vary between policies. Refer to the relevant PDS and policy documents for the applicable definitions, terms and exclusions.
What factors affect a paramedic’s life insurance policy?
An insurer may assess your job role, employment status, day-to-day duties, driving exposure, involvement in air ambulance services, work location and any hazardous tasks. The information requested and its effect on the application will vary between insurers.
Duties and driving exposure: An insurer may ask how much time you spend responding to incidents, driving emergency vehicles or travelling as a crew member.
Air ambulance or helicopter duties: If you work with helicopter emergency medical services, you may be asked about your role, how often you fly, the type of aircraft and other aviation-related duties.
Health and medical history: When underwriting, your insurer may ask you questions about your health, medical history, lifestyle, family medical history and other relevant information.
Employment arrangements: An insurer may also consider whether you work full-time, part-time, casually, as a contractor or in a specialist response role.
Other Policy Types Paramedics Should Consider
Alongside life cover and TPD insurance, paramedics may consider income protection, trauma insurance and appropriate professional indemnity arrangements. These forms of cover serve different purposes and are subject to their own terms, definitions and exclusions.
Income Protection Insurance for Paramedics
Income protection insurance may pay a monthly benefit if illness or injury prevents you from working and you satisfy the policy’s disability definition. The amount insured, waiting period, benefit period and maximum benefit will depend on the product, insurer and your circumstances.
Trauma Insurance for Paramedics
Trauma insurance pays a lump-sum benefit if you meet the policy definition for a specified medical condition, such as specified cancers, heart conditions or strokes, and the policy definition and severity requirements are also met. Covered conditions and definitions differ from policy to policy.
Professional indemnity arrangements
Registered paramedics must have appropriate professional indemnity insurance arrangements covering all aspects of their practice. These arrangements may be provided by an employer or another third party, but paramedics should confirm that the cover meets the Paramedicine Board of Australia’s registration standard.
Separate arrangements may be required for private, volunteer or other work outside the scope of employer-provided cover. Professional indemnity insurance is different from the personal insurance products discussed above.
Get Expert Advice on Life Insurance for Paramedics with Curo
Appropriate personal insurance may help reduce the financial impact on you or your family if illness, injury or death results in an insured event. However, not all insurance policies are created equal. Your cover will depend on your current financial capacity, health situation, and level of risk.
When you are ready to explore your options, consult Curo Financial Services. Curo can help you assess your insurance needs, understand policy features and compare available options based on your circumstances and budget. We can also guide you through the application and underwriting process. Speak with a Curo adviser today.
Frequently Asked Questions
Can paramedics get affordable life insurance?
The cost of life insurance for a paramedic will depend on factors such as age, health, smoking status, occupation, duties, cover amount and policy terms. A Curo adviser can help you compare available policy features, premiums and underwriting approaches based on your circumstances.
What does life insurance cover?
Life cover generally pays a lump-sum benefit if the insured person dies. Many policies may also pay an advance benefit if the insured person meets the policy’s definition of terminal illness. The applicable definition, exclusions and payment arrangements are set out in the policy documents.
Can Curo also help other first responders with personal insurance?
Curo can also assist police officers, firefighters and other first responders in understanding personal-insurance options that may be available for their roles. Occupational duties and eligibility differ, so available terms must be assessed individually. Learn more about insurance for police officers.
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General Advice Disclaimer
General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.
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