What happens to your loved ones if something unexpected happens to you?
While no one likes to think about their own impending death, it’s important to make sure your dependents are financially protected if you are no longer around to provide for them.
Life insurance should replace the loss of your income, so, in the event of your death, your family members can pay off your debts and continue to live the comfortable life you have provided for them. Your family will not be forced to drastically change their lifestyle should a tragic event occur, because they no longer have your income to support their lifestyle.
Life insurance is particularly important if you still have children who are dependent on you. Even if you don’t own any other assets, buying a life insurance policy and naming your spouse and children as beneficiaries can help you establish an inheritance for them.
If you’re with a retail or industry superannuation fund, you’ll automatically have life insurance included. However, this policy will be your fund’s default policy, which may not be what’s best for your individual circumstances.
Default super insurance is generally unitised insurance. For example, you might get 10 units worth of life cover and total and permanent disability cover. This type of policy may start off as $500,000, but it will decrease as you age. When you are 10 years older, the value of your policy may drop down to a significantly lower amount than you originally started with which can be a shock when you go to claim $300,000, depending on the rates determined by the superannuation fund and insurer. So having control over when you reduce your cover is really important, as you may be out of pocket hundreds of thousands of dollars when you make a claim.
Your default super may also not be enough or adequate to replace your income, which may leave your dependents struggling to pay off your mortgage and other debts and maintain their lifestyle.
At Aspiri, we want your loved ones to continue to live the life you have always desired for you and your family, even if you are not around to enjoy it with them.
When considering the best policy for you, we’ll look at all aspects of your life – your income, assets, investments, dependants, lifestyle and future goals. We’ll determine how much life insurance your family will need to replace your current and future income.
We have access to an unlimited range of insurance providers, so we can find the best insurance company for you, in terms of what your policy covers and the fees you pay. We can offer cover that either stays the same or can go up in value, based on inflation.
We’ll also manage every aspect of your policy, from your pre-assessment paperwork, selecting the best insurer based on terms and conditions and price, through helping you manage your insurance claims.
“We have been with Aspiri for many years and found that the advice provided has been very professional and in a courteous manner, with sound investment advice around our portfolio.”
C & L Clapper
“Since our first meeting with Aspiri more than 10 years ago, our confidence in the Aspiri team has never wavered. The expertise and the personalised advice and interaction they provide us, we feel very sure. Their advice has allowed us the luxury to pursue and now enjoy a lifestyle of our choosing. Thank you Aspiri team, you are all much appreciated.”
I & G Vayro
“I’ve been with Aspiri for 10 years after having my own self -managed Super Fund since 1988 . Since I retired 5 years ago I have drawn an annual income of over $100k and the balance of my account is what it was on retirement. They must be doing something right.”
“The Aspiri team have been looking after my financial security for eleven years. They have been extremely supportive, helping me plan my future. As a self-funded retiree, their advice gives me the reassurance that I can go onto my latter years secure in the knowledge that my finances will allow me an ongoing comfortable retirement. “
“The team at Aspiri have been informative on a regular basis and in an accessible way that allows us as busy professionals with little knowledge of the financial world to feel empowered and confident that our wealth is being well cared for.”
J & J Conn
“In the time I have been with Aspiri, I have found them to be very good at what they do – they are very efficient and reliable, able to explain financial matters in a clear and simple way as well as having empathy and understanding for my individual circumstance.”
“I have been a client of the Aspiri team for over 10 years. I can thoroughly recommend the team at Aspiri for providing financial advice for me and my family and for always providing outstanding service with passion and enthusiasm!”
“Several years ago we chose Aspiri, to manage our investments. The team are extremely personable, informed and easily contactable. They adjust portfolios in a timely way, based upon shifts in global markets and the client’s goals. We recommend the client-focused Aspiri team, with confidence.”
J & E Clancy
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