Get Covered with Life Insurance

No one likes to think they will need life insurance cover, but the saying ‘better be safe then sorry’ can help your family in the event that your not here to look after them. Life insurance is one of the most comprehensive personal risk insurance policies available and pays out a lump sum in the event of a premature death, money that could potentially make a huge difference to your family financially.

Life insurance policies will vary greatly on how much is paid out. Generally speaking, the larger the payout you are after, the higher your premium will be. Other factors which may affect the cost of your premium include whether or not you are a smoker, or if you have any existing medical conditions.

What you are covered for will also vary between providers so it’s important to understand what events will trigger a payout. Most policies will cover a range of accidents and illnesses so it is best to check with individual providers.

Once you have life insurance, you should make sure you review it regularly to ensure your cover is adequate. Some policies will allow you to automatically increase costs, by indexing for inflation, but some won’t so you will have to adjust your policy manually.

Your Insurance Market broker can assist you to determine your life insurance requirements and can help you make changes to existing policies, talk to your Insurance Market broker today.  

 

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