Life insurance: the basics and things to consider
Give me the main points
- The most important reason to consider taking out life insurance is to protect your family if you die or become unable to work.
- There’s a good case for anyone with dependants or people who plan to have dependants to take out life insurance.
- Life insurance policies can be bought through life insurance companies, financial advisers or brokers, or through superannuation funds.
- The amount you roughly need is the gap between what your dependants require, and the value of your assets (not including your family home).
- Whatever you choose, it’s important to reassess your life insurance cover against your needs as life changes.
