Top Tips for Life Insurance
When looking at life insurance – it doesn’t matter what industry you are in, there are a number of general tips that apply to everyone.
1. Insure your key asset – your income producing capacity
2. Buy early when you are healthy and insurable
3. Take a long term view – consider level premiums
4. Pay annually if possible – it’s cheaper
5. Lifestyle changes can improve your premiums – reduced BMI (Body Mass Index), giving up smoking (smokers premiums can be twice as expensive)
6. Buy comprehensive life insurance (not just cheap accidental cover) which covers for all causes of death
7. Review your insurance program regularly – every 3 years. Don’t find out after a disaster that you are under or uninsured.
8. Don’t be put off by the application process – underwriters need to know about your health.
9. Talk to your spouse/partner and ask how they would cope financially with your premature death
10. Choose from reputable insurers
Make sure that you plan properly for all events in the future.
If you need any assistance, please contact us on 1300 528 121.