There’s a change in legislation affecting Pensioners…
May 1, 2013
The Value of Advice
November 4, 2015
What is Life Insurance????
February 13, 2015
It is a conversation that strikes fear in to many and is often
an issue many of us put in the “too hard” basket… but this can have some dire consequences. So, let’s take a moment to think about it…
Life insurance protects you and your loved ones financially should something go wrong. In much the same way as you can take out cover on your house or your vehicle, when you take out life cover you pay a premium to your insurer and if something goes wrong, your life insurance helps cover the financial side with a lump-sum payment.
Most people have financial commitments such as a mortgage, personal loans or credit card debt and family who depend on their income. But what would happen if you were no longer around? The death of a family member is traumatic enough without having to add financial stress as well!
Life insurance can also make sure you have enough money to maintain your lifestyle if you become ill, suffer a serious injury or became permanently disabled. Life insurance is like the life jacket in the boat – you hope you never have to use it but it’s comforting to know it is there.
There are five basic life insurances that are available to make your life financially secure no matter what happens to you in a physical way, these are:
Term Life Insurance
Total and Permanent Disablement (TPD)
Each of these products provides for different circumstances – and the products offered by differing providers vary in terms and the extent of cover. It is important to choose the policy that is right for you. Over the next several blogs we will take a closer look at each type of life insurance.
Products vary between companies, and consumers should always read their Product Disclosure Statement (PDS) before they purchase cover. You should always purchase an appropriate level of cover for your situation.
We understand that it can be difficult determining what types of cover and amounts you might need, let alone choosing an insurer. We can assist by helping you determine your needs and recommend an insurer that is right for you.
The advice is general in nature only and does not take into consideration your financial situation, goals or needs. Before making any investment product decision you should obtain a copy of the product disclosure statement. Please seek advice prior to acting on this information.