Life insurance – a lifetime of support
No-one likes to think about their mortality. But it is important to think about the possible impact on your family and plans you can put in place to support them if you were no longer here to do so.
How would your family cope financially without you?
Term life insurance provides a lump sum to your family in the event of your death or diagnosis of a terminal illness.
This payment could be used to meet a range of needs such as:
- repaying debts
- medical and funeral expenses
- children’s education costs
- replacement income
- business succession
- estate equalisation
- gifts to loved ones.
How much is enough?
It can be difficult to work out how much life insurance to take out. Many families struggle financially after the loss of a loved one, even if they did have insurance, simply because it wasn’t enough to meet current and future expenses.
Every family is unique and it’s important to work out just how much insurance you need for your individual situation. We can help you do the sums.
Who gets the payment?
There are many different ways to structure ownership of a life insurance policy, such as:
- through superannuation
- owned by a beneficiary
- nominated beneficiary
Each option has pros and cons. We can explain these to you and suggest a structure that suits your particular needs.
Life insurance doesn’t have to be complicated.
But there are many factors to consider. We can help you to get it right and ensure that, even when you aren’t here, your family receives a lifetime of support.
Click here to meet with a Coad Investment specialist financial planner about your insurance needs…
Coad Investments service all areas including Melbourne, suburbs of Melbourne