Our financial planners regularly provide Life Insurance answers to questions on this topic raised by clients – and prospective clients.
Our answers to these questions are provided to help you to decide on your own risk management strategy regarding
- health recovery and
- income certainty.
The general questions most often encountered, include –
The questions –
- Are Australians really significantly under-insured?
- Most of us have life insurance in our superannuation funds, don’t we? (Isn’t that enough?)
- I can get whatever cover I want from the services offered on TV – can’t I?
- How do I decide on the need to take out life insurance when I’m young, fit and healthy?
A precis of the answers –
- Understand what financial position your dependants will be in if you become seriously incapacitated, diagnosed with a critical illness or die. For the purposes of this consideration, let’s assume the event occurs at a time not of your choosing (say, tomorrow?!)
- Ensure that any shortfall in your providing for the financial needs of your dependants are appropriately provided for.
- In the case of your own incapacity, you will also need to consider your owen financial needs – and in doing so,
- you should ensure that you are:
- Insured for perceived needs using
- the appropriate type of policy,
- with the most suitable provider,
- providing the correct amount of cover,
- owned in the most appropriate way – and
- with beneficiaries nominated to suit your planning requirements.
- Read more using the linked article – and the links that are highlighted in that article.
What would your life insurance answers be?
Wealth management with a view to providing financial independence for yourself and your family is too important to ignore life insurances as a keystone to financial security and peace of mind. The other life insurance answers – the ones you provide in completing your application for cover, are also important, to ensure that when a claim event occurs, the cover can be paid.
How can we be of assistance?
Continuum Financial Planners experienced risk management advisers are available to assist. Our life insurance services include –
- assessing your financial position;
- documenting your financial goals;
- determining your insurable risk exposure;
- recommending appropriate cover; and
- regularly reviewing the adequacy of the protection provided in your life insurance portfolio.
To arrange an appointment with one of our experienced advisers –
- phone us on 07 – 3421 3456; or
- at your convenience, use the linked Book A Meeting facility.
(This article was first published by us in an eNewsletter in August 2012. We occasionally refresh/ update it, most recently in June 2025.)
