As Westpac Senior Financial Planner Diana Saad points out, the right insurance cover can help you avoid financial adversity. In the case of illness or injury, you might be facing large, unexpected medical bills, on top of not being able to earn an income.
For example, would you be ok if you could not work for an extended period due to an injury? Worst case scenario, you might have to look at moving back with the folks, or even having to sell your family home. It doesn’t bear thinking about. But you should think about it.
The main key life insurances are:
And as Diana says the devil is in the detail. When it comes to insurance, there is a lot to the details of the policy, which is why Diana recommends speaking with a professional financial adviser when looking to take out an insurance policy to make sure you are fully covered and have the right insured amounts. And with the many options available when it comes to getting financial advice now, getting some advice the way that you want is easier than ever.
The information is current as at 19/01/2016.
Diana Saad is a representative of Westpac Banking Corporation ABN 33 007 457 141 AFSL & ACL 233714.
This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. This information provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such.