For most people, death is a passing thought however the reality is NONE of us know how long we have on this earth.
The good majority of Australians live a relatviely healthy life so the overwhleming thought is they you will live a long and properperous life, and hopefully this is the case.
According to the Australian Institute of Health & Welfare, in 2017, there were almost 27,000 potentially avoidable deaths: half (50%) of all deaths for people aged less than 75! Of these deaths, 64% were male and 36% were female. “Potentially avoidable deaths” include things like:
- Accidental drowning
- Fires, burns
- Transport accidents
- Heart failure
- Diseases of the respiratory system
- Exposure to forces of nature
…and many more
Some of these are simply things that you cannot prepare for except when it come to Life Insurance. What you can prepare for is for the unexpected and ensure that your loved ones do not suffer any more than they have to with the potential passing of you or a loved one. You can ensure that all financial concerns are covered in one simple policy. You insure your house, your car…some people even their pets… Why would you not ensure your most important asset – YOU!
Not all Insurance policies are created equal. Some policies may under insure you and some you be be paying extra for coverage you don’t need. Ensure you have the RIGHT level of protection. Compare your current policy now! Get a quick quote online today.
The 5 Undeniable Reasons to take out a Life Insurance Policy
1 Major Life Changes
The most common age to start thinking about Life Insurance is just past 30 years old when you start to think about marriage and kids. This often comes with a mortgages and more debt to cover the lifestyle changes that come with this. With that, you immediately need to think about the future of your dependents.
Think about what’s going to happen if suddenly you’re unable to do so. One unfortunate event can pull your entire family into a lifetime of despair.
An adequate life insurance policy however could well cushion the blow if this occurred.
Death is a debt we all must pay eventually, but unfortunately, this doesn’t mean that the rest of your debt will disappear.
Mortgages, credit card, car loans… And even if you’re not around anymore to pay them, the responsibility might fall on your spouse or other family members.
By not having adequate cover, you risk the possibility of depriving your family of the roof over their head and the ability to maintain the lifestyle they currently enjoy.
3 Burial Expenses
The average funeral in Australia can cost between $4000 for a basic cremation to around $15,000 for an extravagant affair complete with casket, burial and flowers. Your family would likely have to deal with these expenses.
What you can do is to structure your life insurance policy to pay out a lump sum for your loved ones when the time comes. Speak to our specialists about this option.
4 Mourning Period
Losing a loved one is one of the most traumatic events in life. And it can take a lot of time bereave.
With your life insurance policy, you can give your family some time to get over their loss without worrying about finances. The fact is, if your death was to cause immediate financial concern, things would most likely be a lot worse for them.
5 It’s not as expensive as you may think!
Some people turn their heads away from life insurance, mostly for the mistaken belief that it’s too expensive. It’s also morbid to think about one’s death. That’s why people may not consider even getting a quote.
However, your premium might be less or more expensive than others, based on a range of factors, including the amount of cover you have, whether you smoke, your age, health status and lifestyle.
If you’re relatively young and healthy and act right away, you might be pleasantly surprised by the premium. For instance $500,000 of life insurance cover should cost a healthy female (white collar non-smoker) around $18-23 per month and a male around $23/30 per month.
Once you hold the right policy, you will find that the only increases are based on you getting older each year, and whether you have selected to ‘index’ your policy, to guard against .
If you’re not sure about the price, don’t ask the people around you. The premium depends on your individual circumstances, so get a FREE, no obligation quote today to ensure you have the RIGHT level of cover at the RIGHT price.
Since launching, thousands of Australians have already jumped on board. Over 100,000 Australians have used Billysumo.com.au to compare their household expenses, with the ability to reduce their every costs being referenced as their number one reason for using the site.