Learn About What difference does the sales channel make?

Direct - you pay 'out of pocket' from your after-tax earnings.

Super - your premium is taken directly from your super account (so before-tax generally).

Retail - you can choose how to pay as these policies offer both. In addition, many insurers offer a hybrid option, so you partially pay from Super but have the benefits of a non-super policy (we'll get to that!)

Direct - normal product offers include Life, Funeral, Income Protection, Critical Illness. They are usually fairly basic.

Super - depending on your Super fund you could be covered for Life, Total and Permanent Disability and, in some case, Income protection. Critical Illness cover is not available under Super.

Retail - Life, TPD, Income Protection, Critical Illness. Some insurers also offer child cover, needlestick and other more niche options. Retail policies generally have a range of additional benefits beyond just the headline sum insured and its worth checking what each insurer is offering.

Direct - you'll have seen the ads (especially if you are watching daytime tv!) generally available online or over the phone. The application process is quite simple with no medicals or financials upfront, BUT this means that those assessments are done at point of claim. This has two big disadvantages, firstly when you are claiming you're likely not in the best place to be pulling together this information. Secondly, you may not have quite the cover you think, direct policies can exclude pre-existing conditions or other exclusions and it's important to check that your selected policy is giving you the cover you expect.

Super - once you reach 25 and/or reach a Super balance of $6,000 you are automatically opted-in to Super default insurance (note. it is possible to opt-out!) However, if you wish to increase your insurance cover there will usually be an underwriting component. Underwriting is the process the insurance companies use to assess your risk level and whether they want to offer you the requested cover.

Retail - as noted above retail policies are usually sold through a third party, such as a Financial Adviser. In the usual process your adviser will assess your needs, all available products, recommend a product and coverage for you and support you through the underwriting process. Depending on what you apply for that could include providing financial or medical background information or tests.

With Keep Insurance Co you get to assess your own cover needs and available products and apply fully online - no middleman. So, gathering of your documentation or getting your medical tests (usually arranged by the insurance company) will sit with you. This does also mean that you don't end up sharing personal medical information with your financial adviser (which would be weird). But if you do want help Keep Insurance Co can refer you to an adviser who can work with you as little or as much as you need.

Direct - as these products are self-serve with fewer additional benefits you may expect them to ne the cheapest option, however, in analysis done by Canstar they can be up to 30% more expensive for the same level of cover under a retail policy. See our table below for a comparison.

Super - cover under super is very cost effective, partially as it's benefits from the Super tax treatment, but also because the major funds have a fantastic bargaining position with insurers and a large customer pool. It's often worth checking if your default premium might be reduced due to your occupation, with low manual jobs generally attracting better rates.

Retail - retail sits between these two on premium, but there are a number of ways to structure your policy to get best bang for buck. Including:

• paying fully, or partially from your super,
• linking your covers so you are covered for your big-ticket debts only once,
• Choosing a Variable Age-Stepped or Variable premium option.

See our learn area for more details on how these, among other options, might help you manage costs.