Chances are you or someone you know will need insurance over the course of their lifetime. For example, statistics from the Cancer Council Australia in 2015 show that 1 in 3 women and 1 in 2 men will suffer cancer during their life.
So how best to manage this reality as much as possible? While each person’s circumstances are different, below are some of the main reasons for having adequate life insurance:
Ease the burden on your partner and family
If something happened to you, will your partner and family have enough money to take care of things or will they need to sell assets, maybe even the family home, to make ends meet?
Quality of life when you need it most
Nothing replaces a loved one but having enough money to keep moving on with your life can make a huge difference to how you cope with changed circumstances.
Going from two incomes to one. Many people rely on two incomes to provide for their children and to keep on top of expenses. How would you manage on one income? Or what would happen if a serious injury or illness meant a long time off work?
For further information, please contact Stu on 1300 861 143.
This information is of a general nature only and does not take into account your personal objective, financial situation or needs. Please consider these factors and read the relevant product disclosure statement before making a decision.