The Role of a Financial Adviser in Buying Life Insurance

How can reputable financial adviser can help me with my life insurance arrangements?

There are many ways in which a qualified and reputable financial adviser can help you when it comes to your life insurance plan. This includes:

  • Offering valuable advice with regards to the life insurance products best suited to your needs based on the information that you provide
  • Providing access to valuable tools and resources to help you
  • Recommending products and services to suit your needs
  • Helping you to review existing plans and policies to ensure that you are still adequately covered
  • Saving you time when you are trying to sort out life insurance coverage
  • Helping you to avoid potentially costly mistakes
  • Being able to answer questions and provide clarification with regards to life insurance related matters

The role of a financial adviser when it comes to life insurance is to act in your best interests, which means making you aware of all of your options and assessing your situation to provide recommendations on what will work best for you. Be aware however, it's up to you to determine what you can and cannot afford to spend on life insurance coverage, so you cannot leave everything up to the adviser. What you can do, however, is provide your adviser with key information relating to you, your finances and your circumstances so that he or she can make informed recommendations and offer valuable advice accordingly.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
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Compare Life insurance quotes from these direct brands

Rates last updated October 18th, 2017
Name Product Maximum cover Maximum Entry Age Minimum Sum Insured Guaranteed Future Insurability Short Description
$1,500,000
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Flexible cover options to suit your budget. New eligible customers can receive 25,000 Velocity Points. Ends 31 Oct. Min monthly premium and T&Cs apply.
$1,500,000
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Receive a discount of 10% on life insurance as a Woolworths Rewards Member. T's and C's apply.
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Get flexible life insurance up to the sum of $2,000,000.
$15,000,000
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Get a quote for up to $15 million in life insurance cover. Cover can be tailored to meet your personal needs.
$1,000,000
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Get a refund of 10% of the premiums you've paid (in the first 12 months) with The Real Reward™ .
$1,500,000
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A simple life insurance product that can offer up to $1,500,000 in a lump sum payment on death or diagnosis of terminal illness.

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What does a financial adviser do?

There are many experts these days who offer advice and assistance in a wide range of industries. These experts are the people that many of us turn to when we need help in making a decision about something or when we need clarification about what will best suit our requirements. For example, if you have questions about your health you would naturally turn to a medical expert. If you want to find out more about purchasing a property you might turn to a real estate expert. If you have questions about financial issues you would speak to a financial expert.

A financial adviser is seen as an expert in his or her field, offering advice about all sorts of finance related issues. Some financial advisers tend to specialise in particular types of financial products and services such as life insurance whereas others may cover a broad range of service and products. As most people already know, life insurance is a very important type of coverage that can provide invaluable peace of mind for you and your loved ones as well as vital financial security for your family. It is therefore imperative to make the right choice when it comes to your life insurance plan, which is where a good, reputable and qualified financial adviser may be able to help.

Buying life insurance may seem pretty straightforward but for those who want to make sure that they make the right choice, it can be a confusing and time consuming process. Some people may be unsure as to what to look for, where they can get the right plan for their needs, and what sort of plan to opt for. Using the services of a financial adviser under these circumstances can be invaluable, as these experts can help to ensure that you make the right choice as well as helping you to get a good deal on your cover.

How can reputable financial adviser can help me with my life insurance arrangements?

The role of a financial adviser when it comes to life insurance is to act in your best interests, which means making you aware of all of your options and assessing your situation to provide recommendations on what will work best for you. Of course, it is up to you to determine what you can and cannot afford to spend on life insurance coverage, so you cannot leave everything up to the adviser. What you can do, however, is provide your adviser with key information relating to you, your finances and your circumstances so that he or she can make informed recommendations and offer valuable advice accordingly.

There are many ways in which a qualified and reputable financial adviser can help you when it comes to your life insurance plan. This includes:

  • Offering valuable advice with regards to the life insurance products best suited to your needs based on the information that you provide
  • Providing access to valuable tools and resources to help you
  • Recommending products and services to suit your needs
  • Helping you to review existing plans and policies to ensure that you are still adequately covered
  • Saving you time when you are trying to sort out life insurance coverage
  • Helping you to avoid potentially costly mistakes
  • Being able to answer questions and provide clarification with regards to life insurance related matters

Who needs the services of a financial planner?

One thing to remember is that there is no obligation to get financial advice from an expert before buying life insurance coverage. In fact, some people may not need to get any expert advice as they may be perfectly happy to go it alone when buying coverage. For example, if you are buying insurance cover based on recommendation or word of mouth, you may not be seeking advice or alternatives. Likewise, if you have been with an insurance company for years and they provider offers life insurance services, you may be perfectly happy to take your coverage through that firm because you already know and trust the provider.

Speak to a financial planner today about protecting your assets

Rates last updated October 18th, 2017
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Commonwealth Financial Planning
Commonwealth Financial Planning
Free initial consultation offer with a financial planner Commonwealth Financial Planners could help you:
  • Grow your super
  • Insure your family and assets
  • Plan your investments
  • Prepare for retirement
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However, whilst there are plenty of people who have the confidence and knowledge to purchase life insurance without any help from an expert adviser, there are also many people who are unsure as to their options and which choices to make with regards to this important type of insurance coverage. If you fall into the latter category, then the services of a licensed, accredited and reputable financial planner could be ideal for you. Using a financial adviser can take a lot of the stress and worry out of choosing life insurance coverage if you are not really familiar with this type of insurance. It can also help to provide valuable peace of mind and can help you to avoid potentially costly mistakes and even scams, which have become rife within the insurance industry as a whole.

Speak with an adviser and find the right life cover

Richard Laycock

Richard is the insurance editor at finder.com.au. He is on a mission to make insurance easier to understand.

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