Insurance Articles
Life Insurance as part of a financial plan
Posted by admin - 16/10/09 at 03:10:07 pmThe Australian Investments and Security Commission (ASIC) says that having adequate life insurance is an essential part of good financial planning.
Depending on the cover you elect to receive, Life Insurance can cover you and your dependents in the event of death, disability or long term injury. It’s important to consider Life Insurance as part of your financial plan, as it can cover you and your family against possible exposure to financial hardship in an unexpected event.
Through their website, ASIC has offered some of the following tips when looking at life insurance policies.
* Discuss life insurance with your family and partner
* Don’t just insure the highest income earner in your household
* Decide how much cover you need (there are various Life Insurance policies available, all with different levels of cover and cost)
* Read the Product Disclosure Statement carefully, which describes the product, its benefits, and any limitations as well as fees and charges.
Overall, when purchasing a Life Insurance product, it’s important to feel comfortable with the policy you have selected and to be confident that the policy meets your needs.
After all, as with all financial planning, life insurance can be seen as an investment in the future of your loved ones.
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