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Life Insurance.

Life Insurance - Because lives depend on it.

We'd like you to take a moment and sit down and really think what life would be like for your family if you died. Where would the money come from to cover the mortgage, school fees, running the car , credit cards, everyday living expenses, such as food clothing, phone bills, gas, electricity and child care. Not to mention funeral expenses and other medical expenses that your health fund simply does not cover.

You may have money in a savings plan or investments. Perhaps equity in your home. But turning these into cash may mean your family having to sell assets, which could cause even more disruption at a time when they really need financial support and the time to adjust.

It is not a pretty picture, you should consider life insurance.

Incomeprotection.com.au can assist with you and your families life insurance requirements

Do I need insurance? ask yourself...
  • Will your income continue if you are ill or injured ?
  • If you could not work for the next 6, 12 months or 2 or 5 years what would happen?
  • Please contact our office for an information kit to be sent to you with detailed information, or you can alternatively complete our Online Enquiry Form with no obligation.

What if you weren’t there to pick up the pieces - you need insurance?

When it comes to your assets, there's none bigger than your life. And if you have debts, a family, or both, you owe it to those you’d be leaving behind to be well covered if something happens to you.

If you have life insurance in your super fund, which many people do, it’s a good start.

But life insurance may not be enough on its own.

In fact, Rice Walker actuaries estimated the life insurance held inside super represents only 20% of the cover actually required.

Life insurance can help give you and your family the cover you need. It pays a lump sum if you die or are diagnosed terminally ill – helping your family eliminate debt, pay school fees, and generally cope financially with your loss.

It’s not something we like to think about, but with life comes risk. We need to take measures to safeguard our loved ones. Life insurance is a answer.

Life insurance cannot help with the emotional stress of losing a loved one, but it can protect your family from the financial stress caused by an unexpected death.


Would your family cope - consider life insurance?

If you have a dependent spouse or children, or debts (such as a mortgage), your accumulated super benefits alone may not be enough to ensure your family’s well-being after your death. Many superannuation funds offer Life insurance as an ancillary benefit to members. Topping up your super death benefits with life insurance can be an efficient, tax effective and inexpensive way to ensure your beneficiaries will be looked after.

The level of cover you need depends on how much super you have accumulated and how much more you might need to cover your debts, income needs of your dependants and expenses such as funeral costs. If you have a large mortgage and young children, you may need a relatively high level of life insurance cover.

As you get older and nearer to retirement, you are likely to experience a lessening of financial responsibilities. Your super balance is likely to be higher, you may have paid off your mortgage and your children may no longer be financially dependent. Therefore, you may not need the same level of life insurance cover that you did when you were younger, or you may no longer need insurance cover at all. As your circumstances and priorities change, it’s important to review your level of insurance and life insurance. Incomeprotection.com.au can help you at each step to work out what your Life insurance needs are, taking into account the level of Life insurance and trauma insurance you are targeting.

Life insurance can also be taken out by itself, you can have your own Life insurance policy with the level of Life insurance that you require.

Life insurance can also be taken out by your spouse, working or not.

Many home based spouses require Life insurance to cover families needs.

Example: Quentin, aged 36, and his partner Rochelle, aged 33, have two children; Sally aged 3 and Tim aged 4 months. Quentin is working full time and Rochelle has taken a break from work to bring up their children. Quentin and Rochelle have just bought a new home and have a mortgage of $500,000, and approximately $10,000 of credit card and other debt.

Quentin and Rochelle both have superannuation with funds that allow them to make non-lapsing nominations, including child pension nominations. Quentin and Rochelle’s adviser calculates that if Quentin were to die, his family would need approximately $1.7 million in order to pay off the mortgage and credit card debts, cover funeral costs and generate pension income of $15,000 each year (indexed) for Sally and Tim (until age 25) and $40,000 per year (indexed) for Rochelle until she reaches age 65.