Life Insurance: Back to Basics

Life insurance provides protection for you and your family Why You Need Life Insurance Life insurance is important when it comes to protecting your family’s future. Let’s take this back to the basics, and look at what life insurance is and why you need it.  In the event that something happens to you, an injury or even death, life insurance will help your family financially in the difficult period that follows. You can have peace of mind that your family will be looked after, especially considering dealing with your mortgage, school fees or debts.  The idea of life insurance can seem overwhelming, especially when looking into it for the first time. Terms may sound unfamiliar and the idea of planning for what happens after your death can be daunting. With a little research these terms will make much more sense, and with a few helpful tips you can organise your approach. Types of Life Insurance Life cover Assists your family with financial security in the case of your death Total and permanent disability (TPD) cover Provides cover for yourself and your family in the case that you are unable to work due to a permanent disability  Trauma cover Financial support for your family when you’re diagnosed with a serious illness or injury Income Protection Continue to receive income if you are unable to work due to an extended illness or injury What to Consider When Looking into Life Insurance Consider your unique circumstances before you begin looking for a policy for the first time.      Consider your needs and objectives Work out what is suitable for you What...