What is life insurance?
Life Insurance pays a lump sum of money if you pass away or become terminally ill. It is designed to help your family pay costs that you would have helped with if you were still alive.
Who needs life insurance?
If there are people who depend on you financially, you need insurance to protect them. It's essential for individuals to choose the right type and amount of life insurance based on their individual needs, financial situation, and future goals.
Most people use life insurance for:
Covering funeral expenses
Supporting their family financially
Clearing debt such as credit card, personal loans, mortgage
Providing future financial support for their children
Paying for childcare support if the person who passed away was the primary caregiver
Some people who are terminally ill choose to access a portion of their life insurance to help with the cost of treatment or to tick experiences off their bucket list.
Life insurance can be vital for business owners, as it can help ensure the continuity of the business and provide funds for a smooth transition if one of the key stakeholders passes away.
How much life insurance do you need?
It can be difficult to work out how much life insurance you actually need. We use specialist software that helps you work out what is right for you and your family. Your personal circumstances (debt, income, ages of your children etc) are factored in, then you get to determine what you would like to happen in the event of an early death – whether assets will be sold, whether the surviving family are able to earn etc.
This calculates how much money your dependents would need to maintain their quality of life due to the loss of income in the event of your death.
We take a collaborative approach when it comes to determining insurance. We bring our years of experience guiding clients through the insurance journey, as well as seeing the impact that insurance has at claim time. However, at the end of the day, the decision is entirely in your hands.
Book now for help with your life insuranceMeet our insurance experts
Anna-May, Kathryn, Melanie and Glyn have been providing personal insurance advice for many years. Choosing policy types, insurance companies and levels of cover. Adjusting policies as circumstances change and of course helping with claims.
Book your FREE initial consultation now"Thank you team, you continue to look after Mark and myself very well on the financial front and I am looking forward to the next step in planning our financial future. Having people you know assisting in this area makes such a difference, especially when they really do care. It's five stars from me."
AC, Farmer, Tasman
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