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Life Insurance

"Life Insurance is about ensuring your family's quality of life, even if you are no longer here to provide for them, for it works when all medicines have ceased to act"

What is Life Insurance?

Life Insurance pays a lump sum benefit upon your death. The benefit may also be payable prior to your death if you are diagnosed with a terminal illness.

Why do I need Life Insurance?

A life insurance benefit is paid to your nominated beneficiary/s or your estate following your death. Its purpose is to ensure those left behind are not financially disadvantaged following your death, be this your loved ones or your business.

How much Life Insurance do I need?

The amount of cover required depends on your personal circumstances. Generally, it is desirable to ensure you:-

  • cover your debts
  • provide your family with the income they need to continue their lifestyle
  • provide for your childrens education
  • meet any future commitments you may have eg. purchase a home or vehicle for your family
  • meet funeral expenses

We are able to assist you in determining the level of cover you require.

Case Study

Steven and Julie had been married for 10 years. The couple had 5 children, the youngest being a newborn. Stephen worked in the mining industry as a project manager. This took him away from his family for extended periods, but he was well paid and believed he was doing the best thing for his family. Unfortunately, Steven was killed in an industrial accident whilst assisting a younger tradesman. Luckily, Steven had taken out Life Insurance cover only a few months earlier. With the $1.2 million dollar payout, Julie was able to pay off the family's mortgage. Furthermore, she is able to remain at home to care for her children as the lump sum provides her with enough income to meet the family's living expenses until her youngest child is 18. In addition, she will have $100,000 left over to help meet education costs.