When calculating your insurance there are many factors to consider, such as your age, assets, lifestyle, number of dependents, budget and so on. These areas help to paint a picture of what is known as your risk profile.
Ask yourself these questions to better understand your exposure to risk:
- Do I have any debts? If so, what are they?
- If I were to pass away prematurely, how would my family cope with the mortgage?
- Would I be able to pay the bills for 12 months if I were to get sick or injured?
- What impact would it have if my partner were to fall ill, suffer an injury or die?
- What insurance do I currently have in my superannuation and what does it cover?
- How much do my dependents need for necessities such as food and clothing?
Our advisers can make a time to explore these questions with you and help you come to a solution that fits within your budget.