Do you really know the amount of coverage you and your family may need?

It’s not as easy as you might think to estimate the level of cover you may need.

Advised Life advisers can provide assistance to determine an appropriate amount and type of cover required. Often, people may want to save money on premiums, so they reduce the amount of cover they really need which may result in being under insured in the event of a claim. One way to determine what you may need is to answer this question:

If you were to die prematurely which option would you prefer for your partner?

  • They could own the house you live in and never have to work again
  • They could keep the house you live in and not have to work for 10 years
  • They could keep the house you live in but have to go back to work in say, 6 months
  • They lost the house and had to go back to work immediately
  • They can provide for themselves

Insurance in industry super funds is generally provided on a default basis and rarely canvasses these critically important questions for their members.  Advised Life can assist you to answer these types of questions and design, implement and monitor an insurance plan that meets your financial needs and circumstances.

That’s where the Advised Life Insurance team can help. Our expertise in providing the right insurance products and services for our clients over the last 17 years allows us to show you the most effective way to protect you, your business and your family, for the most cost effective price.

Superannuation cover isn’t usually sufficient to save you

Industry superannuation funds may have a component of insurance included. Generally, it’s a minimal amount of protection to a certain age with sometimes restrictive definitions for payment. Claims payments generally need to be approved by the trustees of the fund. This may have the effect of delaying the claims settlement or possibly result in proceeds directed to an unintended beneficiary.

Where there is no involvement with an adviser, Advised Life can offer a professional service for your life insurance needs including assistance with the claims process.

The cost of insurance is important, but it’s not THE most important factor

The cost of insurance cover often plays an important part in your decision to buy a Life Insurance Policy, but it should not be the only factor to consider. Price should be a balance for quality, service and communication.

Without professional advice you may be receiving an inferior service that could cost you more than what you think you’ve saved.

Not all Life Insurance premiums increase as you get older

As you get older the risk factor for insurers gets higher. So, buyers face higher premiums to cover that cost for the insurer. This causes many people to let their protection packages lapse when they may need it most.

Did you know you can buy life insurance with level premiums? For younger age groups intending to retain cover over the long term, a level premium structure may be suitable and result in premium savings over the policy term. Ask your adviser about the benefits and advantages.

Life Changes. Your Life Insurance needs to change with it.

Event changes can be monumental or miniscule. They can range from the birth of a baby to adding a new room to the house; maybe finally going on that south seas cruise, paying off the mortgage, achieving a promotion or re-entering the work force.

When you achieve significant milestones in your life you may need to recalibrate your protection package. An adviser can assist in identifying changing insurance needs, review your insurance needs and research suitable strategies and products and inform you of new product innovations you may not be aware of. Maybe they can save you some money, get you better value for your dollar invested, show you the real needs of your family if you’re gone, or inform you of new product innovations you may not be aware of.

With regular reviews, Advised Life Insurance has the expertise and experience to keep you protected, no matter what life throws at you.