Ever get the feeling you could do more with your money or make it last longer? Here are three simple habits that can help improve your finances. Know where the money goes. Get the prep done first. Setting aside some time each day to...
For most people, the decision to get insurance protection is inspired by times of change. In other words, something significant happens that makes us think we need a backup plan – like a friend or family member suffering an unexpected health event, buying a first house, getting married, starting a business or having a child.
But life never stops changing, which is why it’s important to review your cover regularly – ideally, every year. When you look back at the past 12-months, it’s likely all sorts of things have happened. We’re in a pandemic, for a start. At the end of 2019, nobody saw that one coming!
Here’re a few reasons you might want to consider reviewing your life insurance:
- Starting a new job or a having a change in your employment status.
- Moving in with a partner.
- Getting married.
- Separating from your partner or getting divorced.
- Buying a new home or investment property.
- Having children.
- Your kids are no longer financially dependent on you.
- Going into business for yourself.
- Expanding or purchasing an existing business.
- A mortgage has been paid off.
- You’re worrying about the impact of any possible future health impacts may have on your family, lifestyle or business.
- You have stopped smoking or had an improvement in an underlying health condition, letting us know this may reduce your premium.
It’s worth checking-in with your adviser to see if your cover is up to date - especially if anything’s changed in your life or business recently. There’s no charge for a review, however if you increase or change your cover it will alter the amount you pay.
*The information provided is general in nature. It is not financial advice and was not written by a financial expert. If you require financial advice, you should contact a professional financial adviser for assistance.