Australians own around 18 million life insurance policies. In total, we spend $55 billion in premiums providing $6.4 trillion worth of coverage. That's a lot of life insurance.
And you know what?
Not one of these life insurance policies was purchased for the benefit of the policyholder.
Trillions of dollars’ worth of coverage is focused on the needs of others.
Life insurance can provide the cash, the security and the income your family need when you are no longer there to provide for them.
Because life is always changing your family's needs may be changing, many households are actually under insured or not protected at all.
Life insurance is the cornerstone of the family's financial plan.
It's important to get it right, so ask yourself these questions.
Do I have the right amount of coverage? Am I with the right company? Do I have the right kind of policy?
To get the right answers, seek advice on how you can protect the lifetime needs of those you love and leave a proper legacy that lasts long beyond your years.
The best time to start is right now.
Source: ASIC Report 413