Life Insurance Canberra

As you get your finances in order for you and your family, what importance do you put on life insurance plans? Here at Life Insurance Canberra, we worry about finding the right insurance policy for you… so that you don’t have to.

You can feel healthy and well for now, but have you thought about what would happen if something tragic should happen to you? If not, you’re not alone. Many people do not think about life insurance when they are young, they think they have many years before it becomes a problem.

Unfortunately, accidents happen every day, taking lives. Consider what would happen if you were to die tomorrow. Your family may be stuck with a lot of expenses that they must handle on their own

 Funeral

Did you know the average funeral costs about $ 10,000? It has a lot of money for your family to come up with when they are also forced to adapt everything else to pay the bills of families. Even if you’re not the type who does not want a funeral, and would like a simple burial or cremation, you can still run into thousands of dollars to take care of all expenses until the end. (Sorry to be so morbid and this is only the first point!)

 Family Fundamentals

Most households have two people working to pay the bills these days. If your house is, you may wonder how you could survive if you had to pay everything yourself. This is the exact situation that you can put your family in if you die. Worse, if you are one of the fortunate families where someone works, while the other watches the kids, and you are working member of the family, what would happen to your family if they were suddenly not have the money coming in.

House Payments

Do you own a house free and clear? Most people do not. So if you were to die, the money to help pay for the monthly mortgage or rent, goes when you do. This means that the spouse and children if you have them, are left with the burden of trying to find the money each month.

Other Debts

You may have debt that will still need to be paid even after your death. Credit card or other retail debt still needs to be paid and it will fall on your next of kin to do so.

Obtain coverage

Now that you know you need some insurance to help your family, you must decide what type of policy coverage you want. First, if you have coverage. If you work for a company, you may already have signed up for a policy that they pay. Often, these are the policies that are only $ 10,000 or more, but these are sufficient to pay expenses.

Then consider what to do for your family to continue without you. This is what you need to make sure that your policy covers. Maybe you want to make sure that the house would be paid and have enough to live comfortably in a year or two.

Life Insurance Canberra helps you find the right cover that suits you and your family and takes into consideration your personal situation.

It can be a very confusing time when you first start looking into life insurance. Life insurance salesman haven’t exactly got the best reputation, but despite what pre-conceived ideas we may have about insurance, it’s not something that should be ignored and is a very sensible part of a good financial plan.

Terms such as: cash value, death benefit, term insurance, group life insurance, universal life insurance, terms, policies, benefits and premiums are enough to dazzle anyone. That’s why it’s important to do your research before just taking on any cover.

There are many life insurance companies here in Canberra and this site has been set up to help you find one that you feel comfortable dealing with. Finding a life insurance plan that you can afford, and covers you for the things that are most important to you. Life Insurance Canberra is here to help.

Obesity is a growing epidemic in almost every country in the world. Not only can obesity adversely affect your health and quality of life, your wallet is at risk too!

Obesity adds to insurance costs

by: Anthony Keane

From: National Features

December 04, 2011 11:30PM

With insurers using BMI to assess the health of its clients, every piece of fried chicken could be costing you on your premiums.

RISING obesity is set to make life insurance tougher to buy for millions of Australians.

According to financial research group Canstar, applying for insurance earlier in life before any extra kilos are stacked on could have a double benefit, saving money and avoiding being turned down for cover.
Canstar head of wealth management Stephen Mitchell says life insurance can cost 50 to 100 per cent more for an overweight person, or be refused.

Read the rest of this article here…

We’re being bombarded with all the apps a person could need for their phone. Apps for finance, apps for losing weight, keeping tabs of your daily jogging, heck, even apps for ordering a pizza!

But in all of this technology talk what about getting back to the apps that really make a difference in our lives? Below are 5 LIFESTYLE apps, those kind of hacks that will lead you towards a healthier and longer life.

And will help lower the life insurance premiums as well.

5 Lifestyle Apps to Help You Get Cheaper Life Insurance

Life insurance is necessary for every family.

It can provide a sense of security as well as assure that your goals for your family can still be met even after you’re gone. Yet, for all these benefits, a good life insurance policy can be quite expensive. While you do not want to skimp now and leave your family vulnerable in the future, there are ways to lower your premium prices without sacrificing good coverage.

Here is a list of lifestyle factors that you can improve to make your life insurance cheaper as well as apps that can help you achieve your goals. Read more…

Technology is there to make our lives a bit better, more convenient. Not run it for us.

Most people assume that the terms ‘Life Insurance’ and ‘Life Assurance’ are basically the same name for a form of insurance. But this is not correct. They both perform very different financial roles and are very different in terms of cost… so you wouldn’t want to be getting them mixed up!

Life Insurance provides you with insurance cover for a specific period of time (known as the “term” fo the policy). If you die while the policy is in force, the insurance company pays out a tax-free sum. If you remain alive to the end of the term, the policy is finished and has no residual value. It only has a value if there is a claim (when you die), so think of it just like car insurance in that it has a term.

Life Assurance is quite different as it’s a hybrid mix of investment and insurance. A Life Assurance policy pays out an amount equal to the higher of either; a guaranteed minimum underwritten by the policy’s insurance provisions or its investment valuation. The value of the investment element of the policy is reliant on the Insurance Company’s investment performance and the length of time you have been paying the premiums.

Each year the insurance company adds an annual bonus to the guaranteed value of your life assurance policy and there is normally an extra “terminal bonus” at the end. Therefore, as the years go by your life assurance policy increases in value as the investment bonuses accumulate. The value of these bonuses are then determined by the insurance company’s investment performance. Once investment value has been assigned to the policy, you can cash it in with the insurance company. However, most people get a far better price for their life assurance policy by selling it to a specialist investment broker rather than cashing it in with the insurance company.

If you were to die during a Life Assurance policy’s term, the policy pays out the higher of either the guaranteed minimum sum or the accumulated value of the annual investment bonuses. However, if you are still living when the policy terminates, you usually get a bigger payout. This is because with most insurance companies, an additional terminal bonus is awarded.

There is a also a specialised form of life assurance called “Whole of Life”. These policies remain in force for as long as you live and as such, have no preset term.

For you, the internet user, life insurance can be bought over the internet; but because life assurance is viewed as fundamentally an investment product, it must be sold by a financial adviser with advice based on the advisors full understanding of your personal details. So you can’t buy life assurance online, but you can use the internet to find a suitable financial adviser with whom you can meet and discuss your requirements.

Life Insurance Canberra showcases insurance companies right here in Canberra to help you in your search for the right life insurance product for you.