Bought your dream home, planning a family or about to start a new job and wondering if insurance is the right move! Whatever life stage you’re at, find out how you can protect the things you love has to be a good thing.
Buying A Property
Investing in a property is an exciting milestone for many people and families, providing a place of comfort and a sense of accomplishment. However, in the event of life’s unexpected challenges, such as accidental injury or prolonged illness, mortgage repayments can cause financial stress. In these times, it’s important that financial obligations can continue to be met. A good place to start is to assess your personal situation and whether you and your loved ones could meet your mortgage repayments if you were unable to work.
Making a lifetime commitment to a partner is an important point marking the beginning of new experiences with someone you love. In the partnership of marriage you will share many things, financials being one of them. From assets to debt, it’s important to consider how life insurance can protect you and your partner in the future. Although insurance isn’t likely to be on your gift registry, it’s a good idea to speak to a financial adviser to review you and your partners’ financial situation. In the instance where you have shared financial obligations, it’s important to assess if you and your partner could maintain your lifestyle if one or both of you are unable to earn an income.
Starting A Family
Having children can be the start of an exciting adventure, and gives us the incentive to work to continue to build a future full of opportunity. With children comes the responsibility of providing security for your family, especially in times of uncertainty or when unexpected life events happen. It’s important to acknowledge what the impact would be on your family’s day-to-day lifestyle if you didn’t have your income. With the potential to cover school fees, living expenses and the ongoing wellbeing of your loved ones, a life insurance policy can provide the future you imagine for you and your loved ones.
You’ve scored your perfect job, or you’re embarking on a new business venture, which usually comes with a pay rise or increased responsibility. Companies and the government provide a certain level of cover in the event of illness or injury, however in most cases the cover provided through WorkCover and public welfare schemes don’t provide adequate protection. WorkCover only provides cover if you are injured at work, and not for any illness or injury sustained outside of work. As a state-based system, the level of cover could also differ based on your location, so too will the included benefits. The right life insurance policy can protect your income and relieve financial stress if you find yourself off work for an extended period. More importantly you will know what you’re covered for, so there are no surprises when it comes time to make a claim.
When Is The Best Time To Get Insurance?
The best time to get insurance is anytime, especially when you hit those life stages. But the question you should be asking is ‘What is the right insurance?’ The only way you can find out is to research or ask the experts. You need to ask the right question to find the right policy for you and at Awesome Lending Solution can help set you on the right track. Call Rebecca on 1300 761 988 with any insurance question.