Here are the little things you may have forgotten
Dying – it’s not an easy topic to talk about is it?
Not many of us bring it up in our everyday conversations.
I’m sure you’ve all seen all those TV ads where couples spontaneously break into a convo about life insurance. Even though these ads seem a bit fake and forced, they are a good reminder that life insurance is something you NEED to address.
But when it comes to insurance, there’s only one, million-dollar question!
Do I have enough or too much insurance?
Life changes. All the time.
You have a new baby, your kids grow up and move out, you change jobs, you pay off your mortgage…
These are all reasons to review your life insurance at least annually to check if it’s ‘out of date’. You may be paying for cover you don’t need or worse – you may not have enough cover.
For example, a couple with a $500,000 mortgage and a couple of kids could easily need $1.5m in life cover (or more). You may want to add in things like private education costs (if that’s where you want to send your kids) or other activities such as sports.
Life insurance is like an umbrella
As you start to accumulate life (debt, children, assets), you need to accumulate life cover to match.
Are you getting the full benefits from your life insurance policy?
If you’ve found yourself thinking about life insurance, that’s a sure sign that you need to review your current situation.
Most of the time, your policy and benefits will work throughout your lifetime.
However, you need to be aware that it is common for insurance providers to enhance their policies and terms over time and add extra benefits. Sounds great, doesn’t it?!
But sometimes, older policies can be overlooked, and you may not automatically receive these added benefits.
That’s why it pays to ask if you’ve got the most current policy available.
Want to find out if your life insurance policy is working for you?
If you’ve had any recent life changes, it’s time to review your life insurance (or get some if you haven’t already!). The team at EK Financial would be more than happy to help you review your current policy to make sure you’re getting the best product available.
Email me at: aaron@ekfinancialgroup.com.au
Or call us on 03 9020 1888.
