Do You & Your Partner Have Life Insurance?
‘YES’, in my Super
If you answered ‘yes, in my super’, you need to double check you’re adequately covered … many of the life insurance policies included in work superannuation policies decrease over time, so your loved ones might be left financially stranded if you die. They often start at only $200,000 (which is rarely enough anyway) and decrease each year.
‘I do, but not my partner’
It’s not enough to have only one person in a relationship insured. Often, couples only have the main bread-winner insured and the stay-at-home parent’s life isn’t insured. Beware of this mistake … if the stay-at-home parent dies, who’s going to look after the kids? Will the main bread-winner be able to juggle full-time work and other duties, or perhaps need to take extended leave or a part-time position or employ a nanny in the future?
This is an incredibly risky position to be in. You already know you need to get insurance in place immediately, especially if you have a home and/or investment property debt. Stop delaying and make this a priority today.
Regardless of where you’re at in life, you need to check you have adequate life insurance cover. Contact us on firstname.lastname@example.org or call +618 9288 4553 to arrange an appointment with our recommended Financial Planner for a review today.