Have you ever thought about what would happen if you were unable to work due to injury or sickness? Imagine what your family’s life would be like if you or your partner weren’t around?
Would you be able to survive financially?
As we grow older, we realise that insurance is an important part of having a secure future. It is important to review your life insurance regularly, especially if something has changed in your life, for example, if you’ve taken out a home loan, are having kids or starting a business.
Insurance can literally save your life by:-
- Providing a Secure Future – it is essential if your loved ones rely on you for financial support. Insurance replaces your income and will provide support to your family to assist in paying the big items such as mortgage, car loans, school fees etc.
- Creating an Inheritance – you can generate an inheritance by investing in a life insurance plan and naming your dependents as the beneficiaries. This can provide your family with a secure financial future and allows them to have a backup plan.
- Covering Debts & Other Expenses – as well as providing support to cover living expenses and bills incurred, insurance can over any outstanding debts such as credit cards and other personal loans. This would also include any burial costs and burial costs, which also can add up. Your family members will have emotional stress to deal with so lessening the financial burden can be a wise investment.
- Extra Financial Security – every parent would like to have the assurance that their children and dependents will be looked after when they are gone. You want them to benefit from a good education but also to be able to assist in other milestones in their life ie; getting married, starting a business, having children. It is advisable to get extra coverage whilst your kids are still at home.
- Peace of Mind – no amount of money can ever replace you, however, investing in life insurance can offer the peace of mind and security knowing that your family will have the security to continue in the lifestyle
To get your insurance in order, talk to one of our financial advisers today.
This post contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
If you decide to purchase or vary a financial product, your financial adviser, Charter Financial Planning Limited and other companies within the AMP Group may receive fees and other benefits. The fees will be a dollar amount and/or a percentage of either the premium you pay or the value of your investment. Please contact us if you want more information.