Life insurance is an essential part of having a comprehensive financial plan. There are numerous types of life insurance policies which range from fairly cheap to expensive, depending on the type of coverage selected.
There are two basic types which are term life and whole life. The first is basic coverage that provides a death benefit protection for a defined period of time and the latter provides a lifetime benefit for a set premium amount. Australia has one of the widest ranges of insurance products in the market.
Did you know that most times out of ten that when you could have had insurance but chose not to, something happened and now left much worser off!
Preventing is better than a cure for Life Insurance
The main reason life insurance is important is ensuring your loved ones are financially secure after your passing, especially if they are dependent on your financial support for their livelihood. In the event of your death, this lump sum can assist your loved ones to cover immediate expenses, like funeral expenses or unsettled medical bills. You would not like to leave your family dealing with the loss of a spouse/parent and also a mountain of debt.
Do you need assistance to pay off outstanding debts, such as credit cards, car loans and mortgages? The good news is that having a policy in place can make all these debts and worries disappear. The main thing is to sustain the premiums so that it does lapse!
Your family and the role Life Insurance plays!
On average, a family has many plans, such as putting their children through college or setting up our loved ones for a comfortable life after retirement. In the event of a death, the spouse/child would typically need to dip into their savings or retirement plan, in order to cover the costs. Life insurance can assist in preventing this and allow your family to maintain the lifestyle they have set out to experience.
Although no amount of money can ever replace a person, the monetary assistance a life insurance policy provides will be able to protect your family, especially all the uncertainties in life. The other benefits that you would receive is a peace of mind, not only to you, but also your family. Wouldn’t you want a worry-free life and not have to deal the financial difficulties due to death?
Life Insurance will give you and your family that extra protection so you have a worry-free life. Call us today on 1300 850 902 or fill in your details below, for a no obligation follow up.