Life insurance in Perth and Australia is a cover designed to protect your loved ones or your business financially when you pass away.
At the time of your death, your beneficiaries or your estate will be paid the lump sum amount that has been agreed in your policy.
This money can be used to pay any outstanding debts, your mortgage, funeral costs, and can also be given to family or friends.
Term Life Insurance is the most common product available. Term life insurance is offered for a set term, usually until the age of 99.
Premiums can be paid monthly or annually. Should you default or not continue paying your premiums your life insurance will not be current and you will be exposed.
Most Life Insurance companies can include the following sections within your life insurance policy. These covers include TPD, trauma, and income protection insurance.
If you have a business, family or friends that you would like to be taken care of financially when you pass away, then life insurance is essential. There are occasions you may be required to hold a portion of life insurance to satisfy a mortgage commitment with a lending institution.
You may also be in a financial situation where you have a number of outstanding debts like a mortgage or other personal loans. If you fit into either of these categories it is essential to consider life insurance for the financial protection of your loved ones.
In assessing your rates, the life insurer may also ask you to complete a medical examination. This assessment is always done at the expense of the insurer.
It is also important to consider that insurers who ask minimal questions and sell cover without medical assessments or full disclosure via an application form often have higher premiums.
Discussing your situation with a Knight Management Services financial planner will give you the opportunity to have an underwritten life insurance policy which will result in a reduced premium and fully tailored cover designed for your current financial and life situation.
Enquire about our comprehensive Live Insurance. Perth and Sydney based, please contact Knight Management Services Financial Advisor to discuss your details further.