Life insurance (death cover) provides you with a lump sum benefit in the event of the death of the life insured. A life insurance benefit can help your family continue to live the life you have planned together by providing benefits to meet the following circumstances:
- focus on living life without worrying about finances
- payout the mortgage on the family home, or fund a new home if renting
- keep the kids at their school and make future education plans
- provide ongoing day to day living expenses
Death insurance can be owned either outside or within a superannuation fund, however if the benefit is held within a superannuation fund, your individual situation may lead to taxation of the benefits. We would be please to discuss this with you further and provide a recommendation to meet your current circumstances.