Kogan launches life insurance for online shoppers

Savvy online shoppers can add a life insurance policy to their Kogan shopping lists after the popular online retailer extended its reach into the insurance space yesterday.

The freshest move into insurance completes a quickfire and comprehensive uptake of insurance products that - despite only beginning in August of last year - now sees Kogan offer car, home, contents, landlord, travel, pet and of course, life insurance to its eight million customers.

And this is on top of Kogan’s recent incursion into the home broadband space.

“Kogan.com is very proud to be providing Aussies with life and funeral insurance policies that protect their loved ones,” said Kogan.com Executive Director David Shafer.

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“Affordable options are designed to give customers peace of mind and relieve financial stress during difficult times. From today, smart shoppers will be able to rest peacefully at night knowing they are covered should the unexpected happen.”

The new life insurance policy is customisable, giving customers aged between 18 and 64 the option to choose a benefit amount ranging anywhere from $100,000 to $1 million or include additional cover like Accidental Death, Serious Illness, Total & Permanent Disability or Children’s Insurance.

Plus, new customers will take comfort in knowing that the policy is underwritten by Hannover Re, the third largest global life insurer in the world and to celebrate the launch, the retailer is offering a $150 store credit to any new customers to be spent sitewide at Kogan.com.

The latest move is in line with an industry trend recorded by Roy Morgan Research that has seen online life insurance policies double over the past five years, at the expense of in-person insurance brokered policies.

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“How life insurance is obtained is facing a major transformation or disruption, moving away from the more traditional insurance broker (or life insurance salesman) towards purchasing online,” said Roy Morgan Research’s Industry Communications Director, Norman Morris.

You can check out the finer details of the policy here. But make sure to see how it stacks up to the competition by checking a range of policies in our life insurance comparison tables while you’re at it.