subject: Finding The Right Term Life Insurance Quotes In Australia [print this page] When an individual suffers sickness or injury, or in the worst case scenario, death, their family should be able to focus on the recovery or grieving process, and not have to worry about the finances.
Why is term life insurance advice important?
Financial advice becomes critical in a time of dilemma such as how to compare life cover or what to do with the proceeds from a life benefit payment.
Some life companies will pay you an additional financial planning benefit under their life policies, and sometimes for their trauma or total and permanent disability insurance (TPD) policies.
There are certain terms attributed to these types of policies, so be sure to speak to your financial adviser to find out which life insurance policies offer this financial planning benefit.
Financial advice for competitive term life insurance quotes
Leroy has a life, TPD and trauma cover policy with a sum insured of $500,000. He is unfortunately involved in a motorcycle accident and loses the use in both of his legs. He sees his financial adviser who restructures his financial affairs. Two years later, having not taken proper care of himself, Leroy suffers a heart attack. He is told by his doctor that he must take it easy.
Having ignored the advice of his doctor, Leroy dies three years later, leaving his grieving widow to pick up the pieces. She needs to determine the best way to invest his benefit payment and seeks financial planning advice. On each occasion that Leroy and his wife saw a financial planner, and the planner charged a fee for service, Leroy's insurer reimbursed his family up to $5,000 after each claim.
Term life insurance quotes offering you value
The financial planning benefit is another way a life company can help you in the event of sickness or injury. We encourage you to seek further advice to ensure that any insurance proceeds you receive are spent or invested wisely.
by: Grant Main
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