Understanding Insurance Companies

Australia has a serious underinsurance problem. Many of us are either uninsured, or don’t have enough insurance to cover our needs, should the unexpected happen. Learning about insurance is very important, which is why Money101 has compiled a variety of general insurance courses in Australia to help you understand the different types of insurance, its role in managing risk, and breaking down all the insurance mumbo-jumbo that pops up along the way.

With Money101’s insurance tutorial for beginners, you’ll be learning about insurance in an easy and enjoyable way.

Carefully curated general insurance courses in Australia

Each of the Money101 modules listed below takes about 10 to 15 minutes to complete. Our team of educators, designers and technology experts work together to ensure the content is engaging, accessible and fun!

Calculating risk

Nothing in life is guaranteed, except death and taxes, and the unexpected can happen to any of us at any time. But we can be prepared for the potential financial impacts. This module covers how much risk you face and how it can impact your life, as well as defining the impacts of risk, and the benefits of planning for it.

General insurance

As you pay your insurance premiums every month, do you ever stop to consider if you’ve got the right cover for your needs? This module on learning about insurance outlines the different types of general insurance and how to decide how much cover you need. You’ll also learn about the types of general insurance available and why you may need it, the risk of underinsurance, what an excess is, and how to make a claim.

Insurance policies

Insurance contracts and disclosure statements can make your eyes glaze over. But understanding these documents is critical; if you need to make a claim, the last thing you want to hear is: “sorry, that’s not included in your policy”. By understanding insurance companies better, you’ll have a better idea of the different types of insurance documents, your duty of disclosure, some important insurance terms, and tips for filling out insurance proposals.

Insurance premiums

Not all insurance premiums are created equal. Choosing the right pricing structure to suit your needs could save you money over the life of your cover – how much you pay is determined by several factors. This module will help you to understand how life insurance premiums are calculated, the difference between stepped and level premiums, and how you can split premiums.

Insuring my life

Life insurance is all about protecting and providing for your loved ones. This module outlines the basics of choosing life insurance coverage, so that you can be more informed to make a decision that’s right for you and your family. You’ll learn how to work out how much life insurance cover you need (and why), choosing stepped or level premiums, comparing deals, and taking the first step towards arranging life insurance cover.

Personal insurance

Risk is everywhere. While we can’t completely eliminate risk, we can reduce the financial impacts through insurance. This module will help you to understand how personal insurance can minimise the financial impact should the unexpected happen – it covers the financial impact of risk, the different types of personal insurance, the risks of underinsurance, using an online calculator to identify your insurance needs, and where to go for help.

Take advantage of Money101’s general insurance courses in Australia

At Money101, we’re passionate about equipping Australians with the knowledge and confidence to make smart insurance decisions throughout their lives, whether just starting out or into retirement.

With proven experience, Money101 is the perfect insurance tutorial for beginners looking to gain confidence navigating policies and claims.

Learn about our other financial literacy training courses, or browse our Money101 module catalogue for a detailed breakdown of the categories we cover. You can also learn more about how our financial education modules work, and how they’re delivered in a way that is convenient, reliable and affordable.

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