Are you covered by life Insurance?
Did you know that Australians pay almost $44 billion a year in premiums for life insurance and about 70% of life insurance policies are purchased through superannuation funds (SMH).
According to Choice, there are close to 14 million duplicate super accounts, meaning that many people will be paying for insurance they are most likely unaware of and do not need. Many superannuation accounts come with default life insurance, if the account holder doesn’t opt out of this insurance, they can often end up paying for duplicate policies, especially if they have changed jobs recently.
In the unfortunate event of death to you or your partner, life insurance is critical in providing financial compensation to protect your family’s daily living expenses and to help secure their future.
At Bright Wealth, we can ensure you have adequate cover in place to give you peace of mind, knowing that in the event of your death, your family will be financially protected and able to maintain their current standard of living.
If you would like a review of your superannuation accounts to determine if you are paying for unnecessary life insurance policies or if you would like a review of your personal circumstances to determine the level of life insurance you require, please contact the Bright Wealth team today.