I get phone calls from people almost weekly selling life insurance, what is it and is it worth getting? Can it be bought using superannuation funds?
Yes Michael, it is worth getting but maybe not from a weekly phone call (direct insurance) due to their excessive premiums.
If you have dependants and loved ones, and debt then you will have vulnerability.
Also yes it can be funded from Super monies, tax effectively so this should be considered as it can make it very affordable without affecting your cash flow.
Please contact me should you like to chat further.
Life insurance provides a lump sum payment to your dependents should you become terminally ill or pass away. Life insurance is an important product for anyone who wants to protect their partner, their children or their family from financial stress. I believe that you should have a very good policy in place as soon as you plan to have children or if you have anyone dependent on you to provide financial security.
You can purchase life insurance within your compulsory super, your retail super or outside your super fund, an experienced insurance professional will explain these options for you. The default insurance in your current super will not be sufficient to provide for your families future.
I hope this helps