For peace of mindAs we get older, we tend to have more people depending on us. If you were to pass away, how would your closest get by without you? Life insurance isn't about stopping the unexpected from occurring — nobody can do that — but it can provide you with peace of mind. It can pay your beneficiaries (the people you nominate when you buy a policy) a large lump sum to pay off debts like a mortgage and car loan, as well as cover everyday living expenses.
Getting life insurance sooner rather than later also tends to be cheaper the younger and healthier you are. You can find out how much it's likely to cost you by getting a life insurance quote here.
For your family and loved onesIf you have loved ones depending on you financially, it's highly worth considering life insurance as it can act as an income replacement for your family when you die. It's especially important if you're the main breadwinner. You'll need to take into consideration everything that you currently pay for, from car and health insurance, to food expenses and tuition fees. You can select the amount of life insurance coverage you would like when you apply.
So that you can pay off debtsIf you were to pass away, the last thing you would want is to burden your family with debt on top of the emotional stress. Life insurance payouts usually range from around $500,000 to $5 million which can take care of things like your mortgage, credit cards and car loans — not to forget everyday expenses. It can also pay for funeral and burial costs.
So that you can leave an inheritanceWhen you have life insurance quote, you can increase your cover so that you can pay off all your debts and more importantly create an inheritance for your kids. It's comforting to know that when you pass away, you're able to leave your loved ones with something behind. That's why life insurance is one of the best ways to set your kids and family up for the future; it allows them to continue improving the life you built for them.
Applying is straightforwardComparing policies available in Australia is a great way to find out what kind of life insurance will best suit your needs and your family's. It might not be the most exciting task in the world, but weighing up your options will secure your financial future and provide peace of mind.
With the Finder life insurance tool, you can:
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