Our homes are insured against damage and our cars are insured against accidents. But, what about ensuring that your most important assets are protected? Homes and cars can be replaced, but in the event that something unexpected happens to you, the money being contributed to your household cannot as easily be replaced. With your family being your most important asset, isn’t it time you make sure that they’re protected?
To ensure they’re protected, it’s time to talk life insurance. If you don’t have life insurance, we’ll talk about the importance of why it’s time to start pursuing a policy. If you do have a policy in place already, it’s an important time to make sure the cover is adequate.
Without Life Insurance Protection?
Accidents happen every day and at every age. Serious illnesses can happen at any stage of life, making life insurance a vital part of your overall financial plan. If the unexpected happened, how would your family financially survive? How would your debts be paid? Who would cover burial expenses? These are just a few questions to start asking yourself. No one is invincible. It’s time to sit down, tally your debts, other expenses, and the kind of lifestyle you want your loved ones to have in the event of your passing. With this information in hand, a financial planner can help you choose the right coverage.
Already Have Life Insurance?
Many people have life insurance coverage through their supers so they automatically assume that they’re protecting their family. Life insurance through your super may provide you with some coverage, but does it provide you with the coverage that you actually need? Life insurance through your super may only provide partial coverage, or come attached with numerous limitations that don’t protect your family as well as you originally thought.
No matter what stage of life you’re in – just starting out, or a few years away from retirement, now is the perfect time to review your insurance coverage or what your specific needs are for a life insurance policy. It’s always better to be prepared early on than to put it off, only to leave your family unprotected in the event that something happens.
Final thoughts…it’s not just the breadwinner in the family who should have a life insurance policy. Even those who earn less still need to have a policy in place, as even a minor upset in a household’s income can cause a financial hardship.