Many young Australians under 30 are considering life insurance. It's a myth that it's only for older people or those with families. In reality, life insurance is vital for young, single adults too, offering crucial financial protection and stability for any dependents during unexpected events.
If your employer’s choice of a superannuation fund is Sunsuper, you likely already have some life insurance and TPD cover automatically included.However, as a working professional you might be wondering if you have enough protection should you be unable to work due to illness or accident and if your family will be financially supported if you pass away.
While having some cover in your superannuation is a great start, it might not be enough if something were to happen to you. What would happen if you were to become sick or disabled or died? Term life insurance could pay off your entire mortgage should you pass away before it’s been repaid, helping your family…
Many Australians don’t realise that when they combine Life Insurance with a Total and Permanent Disability (TPD) policy, any payout for TPD reduces their total life cover. This means that if you pass away later, your family could receive a smaller payout than expected. The same applies to bundled Life and Trauma Insurance policies. Once a claim is paid for a covered illness, your life cover decreases, which could leave you with less protection when you need it most.
If you’re looking for a new life insurance policy, or perhaps just some additional coverage, you may be tempted to purchase a policy directly from one of the life insurance companies so frequently advertised on television and online.
Whether you’re buying life insurance for the first time or want to review your policy, learning how life insurance premium payments work is essential to finding the right coverage and making it an important part of your budgeting plans.
Buying life insurance for the first time or after a significant life event, for example, getting married or buying a house, can be confusing, especially when you have a pre-existing medical condition.
If something happens to you and you are unable to provide for your family, will the amount of life cover that’s paid out be enough to cover your outstanding debts and replace your lifetime income?
Being diagnosed with a terminal illness is tough emotionally, mentally and physically, but your finances might also take a severe knock. When undergoing treatment for a terminal illness, medical expenses not covered by health insurance start piling up.
If you or a loved one have had a cancer scare, you know that one of the first things that you’re confronted with is the possibility of death. According to Cancer Australia, it is estimated that over 138,000 new cancer cases will be diagnosed in 2018, with an estimated 48,586 deaths will result from the disease.
