Should you get life insurance if you’re self-employed?
Whether you work for yourself or as an employee, life insurance exists to ensure your needs and those of your family are met if you’re no longer able to provide financial support.
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Whether you work for yourself or as an employee, life insurance exists to ensure your needs and those of your family are met if you’re no longer able to provide financial support.
If you’ve never had an insurance policy before (or even if you have), life insurance can seem pretty complicated. To start with, the term itself could almost be described as a catch-all, umbrella term that covers a lot, including income protection cover, total permanent disability cover and death cover.
After you’ve worked out whether or not you need life insurance, the next step is working out what level of cover you should opt for, and the key here is balance.
As the old saying goes, there are two things you can count on in life: death and taxes. Life insurance is all about planning for the former (even if it’s not really pleasant to think about).
When you purchase a vehicle from a car dealer, you'll probably be offered a whole lot of extras. While an alarm system may be worth forking out extra for, one add-on you should avoid at all costs is life insurance.
Life insurance is meant to be a safeguard for the tough times in your life. It should give you peace of mind in the event of a loved one's death or to guarantee your financial safety if something happens to you and you’re unable to work.
In the market to purchase a life insurance policy? Then you’ve got two choices. You can purchase a policy directly from an insurance provider, or get one through your super fund.
If you’ve decided to bite the bullet and buy a life insurance policy, you should take the time to work out which of the key features on offer are important to you. After all, this is one insurance policy you could wind up sticking with for the rest of your life.
In October 2016 the Australian Securities and Investments Commission (ASIC) handed down a report into the handling of claims by the life insurance industry. This was in responses to criticisms of outdated definitions being used to avoid payouts and conflicting interests in the sale of policies.
For most Australians, covering essential expenses like rent, groceries and power bills will get tricky without a paycheck coming in. It only gets more complicated if you’re providing for a family or paying off a home loan.
The number of people planning to renew their life insurance policies has jumped from one in three to 50% of policyholders over the last year.
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The Australian Securities and Investments Commission (ASIC) is urging 40,000 Australians who bought life insurance through the formerly ANZ-owned OnePath to apply for refunds.
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Understanding life insurance is certainly not for the faint of heart. There are so many different terms to wrap your head around, not to mention the choice between superannuation life insurance and standalone cover.
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While the NSW and Queensland floods are now at bay, many residents are still feeling the flow-on effects of the disaster. The NSW SES alone responded to over 12,000 requests for help and conducted more than 1,000 direct flood rescues.
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