Life Insurance pays a tax free lump sum in the event of your death or the diagnosis of a terminal illness. With Life Insurance, your loved ones are protected financially for the loss of your life.
Life Insurance is often required to;
- Remove the mortgage on the family home.
- Meet any short term debt commitments.
- Provide a lump sum for your spouse to invest, creating an ongoing income stream to support the family’s living expenses.
- Provide funds for schooling and further education.
Removing the family’s financial stress via a simple and cost effective Life Insurance Policy will ensure that your family does not have to suffer the further pain of financial burden during a time of grief.
Life Insurance policies can be established personally, or through a business. Policies can be established outside super or tax effectively inside super dependant on your circumstances.