Get the right protection for your family

Mar 10

Will your survivors suffer financially in the event of your death? How will they pay the bills, would they even have sufficient savings to meet your cost of dying, such as funeral, tax, medical and lawyer’s fees?

Our financial needs change throughout our lives; however there is a typical pattern that evolves for all of us. “One Size Fits All” is not the way you would describe Life Insurance however solutions are arrived by following a disciplined process.

Taking the time now to evaluate your risk position will go a long way to alleviate the anguish experienced by many whose Lifestyles have been thrown into turmoil from the death of an income provider.

So what should we consider an appropriate level of cover? Simply expressed the right amount of cover is determined by

This may look simple enough, but calculating one's life insurance needs can actually get pretty complicated. Lump sums will be required to meet the immediate expenses such as funeral, household debt and mortgages; no drama there, but calculating income generating monies and how much is a whole different area of expertise.

Getting it right ensures the survivors are left with appropriate monies to meet their ongoing lifestyle needs, without compromising their tenure in your family home.  The alternative is a much worse proposition.

This is where a professional adviser can take the guesswork out for you, he / she will assist to identify future funding issues, such as the gap between income earned and expenses to be paid, future education and retirement requirements, succession planning and protection of business assets.