Life Insurance

Estate protection seeks to provide your dependants with financial peace of mind if you pass away. We will look at the risk of your dependants lifestyle being compromised in the event of your death. If a risk exposure exists we may look at transferring this risk to a third party through Life insurance. Life insurance is relatively inexpensive and can be owned and funded inside super so that your personal cash flow doesn’t feel the strain of premiums. 

 It is typically used to pay off your mortgage so you can pass on your property debt free to your surviving family members. It is often also used to provide a lump sum amount that can be invested, with the investment income used to pay for schooling and other lifestyle expenses. If you become terminally ill, you can access these funds early. This cover is cheap and can be owned inside super and paid for by your super balance no matter which company it is with, easing pressure on your personal cash flow.

Despite the fact that almost every working Australian has a level of life insurance cover within their superannuation, Australia has proved to be one of the most underinsured nations in the developed world. A 2008 survey by the Australian Institute of Superannuation Trustees (AIST) and Industry Funds Forum (IFF) revealed that "one in two industry fund members were underinsured by $100,000 or more"
 
Rice Warner Actuaries estimate that life insurance cover within super is on average only 20% of what is needed. Research commissioned by IFSA in 2005 showed that only 4% Australian families with dependent children have adequate levels of insurance cover