The start of a new year is always a good time to check whether your insurance policies are still serving your needs but this year there is even more reason to review your cover.
For most people, life insurance provides a safety net against unexpected events. This is particularly the case if you have a mortgage, debts or family who are dependent on you earning an income. In many cases, life insurance has been automatically offered through superannuation.
It probably comes as no surprise to anyone that there is a significant underinsurance gap between what we would need to maintain our standard of living should the unthinkable happen, and what we are actually covered for in the way of insurance.
Trauma insurance is the middle child of the personal insurance family. It’s overshadowed by its better known siblings but it’s a quiet achiever that will do the heavy lifting when the circumstances require it.
Life insurance is one of the most important investments you can make to protect your family’s future well-being. And like any investment, it needs careful consideration.