Providing your family with peace of mind
with the right life insurance
Life Insurance provides you and your family with security and peace of mind in knowing that your ongoing financial obligations can be met, should the unforeseen occur. If you have family, and those in your life that you care about, then life insurance is an important consideration and does not need to be expensive. Unfortunately, most people only tend to realise the value of the right life insurance policy when it’s too late, and they wish they’d done something sooner.
The majority of expats are significantly under-insured based on their life insurance needs
Why You Need Life Insurance
- Avoid Forced Sales: Allow your family to pay off outstanding debts rather than being forced to sell assets
- Insufficient Employer Cover: The cover provided by your employer is typically insufficient
- Independent Cover: Many people change jobs frequently so it’s important to have independent cover outside of your employer
- Meet Your Expenses: Your family will have access to cash to meet upfront expenses
- Stay on Track: Ensure that your family can remain on track to achieving their financial goals
- Utilise Superannuation: Australians can utilise their superannuation to pay life insurance premiums where appropriate
Most people require 10 times their annual salary in cover, while most employers cover 2 – 3
Case Study – The True Value of Life Insurance
The Situation
James and Karen are happily married and have just moved to Singapore from Perth. They have moved with their 2 year-old daughter, Isabelle. They are enjoying their new expat lifestyle living in Singapore and making new friends. James works as a Director in a Recruitment firm and Karen is staying at home looking after Isabelle. Given their recent move, the couple decides to meet with us to review their existing life insurance policies.
The Solution
We met with James and Karen and reviewed their cash flows, assets and liabilities and discussed their long-term financial goals. After taking them through a range of scenarios, we were able to ascertain the right level of life insurance for them both. This would be sufficient to clear their outstanding debts, cover Isabelle’s future education costs and meet their relocation costs and ongoing expenses.
Scenario
Sadly, James is involved in a car accident and does not make it, leaving Karen and Isabelle behind. We help Karen to submit a life insurance claim and she receives James’ life insurance payout. This enable her to clear her outstanding debts and meet their ongoing expenses. Karen decides to shift back to Perth and has the funds from the life insurance payout to meet their relocation expenses, as well as cover Isabelle’s private schooling fees upon their return.
Request a Quote for Life Insurance
Click on the buttons below to arrange a time to discuss your life insurance needs