Life Insurance provides a lump sum benefit to your beneficiaries or estate in the event of your death, or diagnosis of a terminal illness. This is one of the most common types of cover taken out as it provides financial security directly to your loved ones and is paid out as a lump sum.
Have you ever wondered what would happen with your home loan repayments and other financial commitments if something happened to you? You can avoid financial burdens caused by death, illness or injury by protecting yourself with life and income insurance.
Some important questions to ask yourself:
Your biggest asset is your ability to earn an income.
You insure your car & your house – why not yourself?
Stuart is a 39-year-old self-employed Chiropractor earning $150,000 per year. He is married to Roxy, and has two primary school aged children, both of whom attend private schools. His home is valued at $900,000 with a mortgage of $500,000.
Stuart is aware of how important his health is, so he makes it a priority to go to the gym every morning before work. One day, whilst at the gym, Stuart suffers a heart attack, collapses and passes away enroute to hospital.
Thanks to Stuart having Life Insurance of $1m in place, Roxy was well provided for and was able to:
This provided Roxy with enormous peace of mind, knowing that she and her children would be able to maintain their family home and current standard of living.
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Countrywide Advice Pty Ltd, Countrywide Advice Pty Ltd Trading as J Fleming Financial Services, Graeme Collins Pty Ltd Trading as CBS Financial and GrowUp Financial Pty Ltd Trading as Invest Blue are Corporate Authorised Representatives of Charter Financial Planning Limited ABN 35 002 976 294 AFS Licence and Australian Credit Licence no. 234665 (“our Licensee”), as shown in our Financial Services & Credit Guide.
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This website contains information that is general in nature. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information.
The Authorised Representative provides you with advisory services in accordance with the disclosures in the Financial Services and Credit Guide. Charter Financial Planning is responsible to you for all conduct. www.charter.com.au
