When considering life insurance in Australia, here are four key things to know:

• Financial Security:
  If something happens to you and you don’t have life insurance, your loved ones who are financially dependent on you could be left with a lot of financial stress after a life event. Life insurance can  help pay off the mortgage and other debts left behind, provide for your future and ongoing education costs and/or provide financial support to your spouse.
• How Much Cover Do You Need?
  When you consider life insurance, your adviser will work with you to thoroughly assess how much life insurance coverage you have versus how much is adequate for your personal circumstances.
• It’s Better to Get Life Insurance Earlier Than Later:
  Premiums are generally lower when you are younger and healthier, so it’s better to get life insurance early – even if you have not yet started a family.
• Understand the Policy Types:
  Get to know the different types of life insurance policies – like term life, whole life, and income protection – so you can choose the one that best fits your needs.

Get in touch with our risk specialist advice team at SCM Insurance who can help ensure you have the best combination of price and product to suit your needs and your budget.

Nic Brian – Principal, SCM Insurance

SCM Insurance Pty Ltd is an Authorised Representatives of MBS Advice Licence Pty Ltd ABN 25 654 854 136 AFSL 536983. Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.