Life Insurance
What is life insurance?
Term Life Insurance in Australia is designed for individuals in good health to set up protection against unforeseen changes in circumstance that will affect their loved ones financially.
If you have a partner and/or children with a mortgage living expenses that would suffer in the event of your untimely death, your life insurance will shield their lifestyle after you are gone.
Once you have a policy, so long pay your premiums, you will stay covered no matter what health changes may occur.
Life Insurance is for people that want to protect the family finances in the event of death or a terminal illness.
A lump sum is paid out to your nominated beneficiaries which can be used to help pay the mortgage or other debts and replace spousal income. You can also tailor your policy to your needs which might include paying Funeral Expenses or payment on diagnosis of a Terminal Illness or Total Permanent Disability.
You can choose to have your insurance premiums paid either monthly or annually from a bank account or credit card. In most cases you can also set up payment through your nominated superfund or SMSF.