NAB unveils online life insurance "Essential Life" with 10% discount offer

The National Australia Bank (NAB) has launched a new online life insurance policy dubbed “Essential Life”, offering a 10% discount on the premium for the life of the policy if you apply for online coverage at by 31 October 2014.

NAB said in a statement that many Australians don’t realise the importance of life insurance with the latest MLC Wealth Sentiment Survey showing 50% of Aussies don’t want or don’t think they need life insurance to protect their family’s finances in the event something happens to them.

However NAB retail general manager, David Hackett warned that life doesn’t always go according to plan and life insurance can help protect your loved ones if the unexpected happens. Mozo advises Aussies to do their homework before signing up for a life insurance policy by searching the life insurance market for a competitive deal.

“We are constantly looking at ways to make it easier for Australian families to protect their financial future, and address our nation’s underinsurance problem,” said Hackett.

“The launch of NAB Essential Life marks the first time our customers can apply for and receive life insurance protection quickly online at, and is an important part of our strategy to make quality financial advice and services accessible to more Australians.”

Hackett advised that the last thing anyone wants is to leave their loved ones in financial difficulty after they are gone and NAB Essential Life gives Aussies the "peace of mind" that your family will be protected.

For more information on life insurance, read Mozo’s tell all guide here.