How To Improve Your Life Insurance Protection

Life insurance inside superannuation

Do you feel complacent about life insurance (also known as death cover) because you feel that your superannuation covers your life insurance needs? While it’s true that most superannuation funds will pay benefits if you die there are limitations to be aware of.

“Don’t assume your super will take care of all your life insurance needs. There are many restrictions, as well as benefits” said Amien Sym, a moneyQuest insurance adviser.

Inadequate protection

Recent research by the Financial Services Association states that 95 per cent of Australian families do not have adequate life insurance.

It seems the need for long-term, comprehensive life insurance has never been more important.

Underinsurance problems

According to ABS (Australian Bureau of Statistics) more than three in four Australians will be diagnosed with a serious illness in their working life. Some of us might rely on insurance payouts or savings to get thru a difficult time, but many others may have to rely on government welfare or handouts. The reality of facing a financial hardship may have devastating consequence for you and your loved ones. Financial strain has far reaching consequences, not just for you and your family but for many generations to come.

“Having adequate life insurance is really just about protecting your lifestyle,” added Sym.   

Need more help?

Taking out any type of life insurance should give you a tremendous sense of relief but the key to having adequate life insurance is really about having comprehensive life insurance. Yes, superannuation provides a well-priced solution for some but limitations on some super based policies can lead to financial ruin.

As with any major financial commitment, it’s best to consider your individual situation and seek professional advice. Even the most experienced insurance experts must spend time understanding your individual situation and considering all the different insurance products available before making a recommendation.

To compare life insurance plans or to make a no obligation appointment with a professional insurance consultant, please visit the ratesonline.com.au website.

General advice warning

This information (including taxation) is general in nature and does not consider your individual circumstances or needs.  Do not act until you seek professional advice and consider a Product Disclosure Statement.

moneyQuest Insurance Services Pty Ltd is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252

What Everybody Ought To Know About Life Insurance

What is Life Insurance?

Life/Death insurance is an insurance cover that makes a lump sum payment to your family if you were to die or be diagnosed with a terminal illness.

Why do you need it?

Death cover offers you and our family security. If you are properly insured, you will have peace of mind that your family won’t have to worry about money if you were to suddenly die .

If you were to die unexpectedly and your surviving family were relying on you financially, how would your family continue to meet ongoing expenses? The bills mount up so quickly. Car loans, credit card bills and other large financial commitments like your children’s education costs, large debts such as your home loan and maintaining the current day to day lifestyle requirements could all add financial stress to your family .

Life insurance is really just about protecting your lifestyle .

The Myths of Life Insurance

#1           Life Insurance is bundled in with my super.

Whilst this is true, the level of cover will differ depending on your superannuation funds policy.   Check to see if you have enough cover in the event of death or illness .

#2           It won’t happen to me.

Unfortunately, many Australians remain complacent about life insurance.  The reality is that many of us might have a cancer, critical illness, heart attack, bypass surgery, stroke or other major illness in our lifetime .  

#3           They won’t insure me because of current health problems.

The Industry operates on a risk assessment basis, which is determined by an underwriting process .This means that people with a “higher risk” are simply required to pay extra premiums.  It is only a very small few who won’t be covered at all.

#4           I already have enough cover.

The recommended level of life insurance to maintain your current lifestyle is around 10 times your net earnings.While most people insure their homes and cars adequately, most don’t have enough to cover their most important asset… themselves.

As with any major insurance or finance decision, it’s important to speak with an expert to help you evaluate your needs.

To compare insurance protection plans, request a life insurance quote and to speak with an insurance expert you can visit the ratesonline.com.au web site. There you can compare products from over 10 of Australia’s major insurance companies, calculate your life insurance needs with a special life insurance calculator and make an appointment with an insurance expert.

This information (including taxation) is general in nature and does not consider your individual circumstances or needs.  Do not act until you seek professional advice and consider a Product Disclosure Statement.

Moneyquest Insurance Services Pty Ltd is a Corporate Authorised Representative of Millennium3 Financial Services Pty Ltd ABN 61 094 529 987 AFSL 244252

 

Compare Life Insurance – Making Sure You Get The Best Possible Deal On Your Insurance!

*Click Here For Life Insurance Quote Comparison – Get An Affordable Life Insurance Quote!*

Compare Life Insurance – Making Sure You Get The Best Possible Deal On Your Insurance!

You have many options when it comes to any type of insurance and this means that you can do many things in order to be sure that you find the best possible deal. There are many ways to get discounted rates and get to the point that you want to be when it comes to getting affordable insurance. You can make sure your family is protected when you pass and make sure that they do not have to worry about money at all because you have the right type of insurance on your life. Having insurance can ensure that your family is taken care of and that you do not have to worry. Here is how you can compare life insurance rates and get the right policy for you.

The first step is to get multiple quotes for insurance on your life. This means that you need to get a quote from your home insurance company and from other companies. This will give you more than just a few options to look at and you need to have about 5 or 6 good quotes before you make a decision on which company you want to use. This is very important because having more than one option to choose from is very important to getting the best possible deal on your insurance rate.

The second step is to compare life insurance quotes that you have gotten and not just the prices. You need to look at the differences in the types of coverages and the amounts of the coverage you are getting. This means that you need to take your time and really look over the different types of coverages you are getting for the prices that you are going to pay. You need to know what to look at and how to compare life insurance quotes so that you can get the most for your dollar.

The last step is to know that if you use the same agent or company that carries your other insurances, then you can get a nice little discount. You also need to know that you can get the quotes you are after right online for free. This is a big deal because it will save you from going to different companies to deal with all your quotes. You can do it right from home and get many different quotes online without any trouble. You can also find a website that will compare many quotes just for you.

By: Henry Thomas Jr.

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*Click Here For Life Insurance Quote Comparison – Get An Affordable Life Insurance Quote!*