Life Insurance Advisers
Let’s face it, no one like talking about death, but is going to happen sometime.
And while living well in to your 80’s or 90’s is not an unrealistic expectation, the reality is some of us won’t make it that far.
If you were not around, what impact and changes would that mean for your spouse, children, family and co-business owners. If you were to die would your family be financially better off, worse off, or the same?
Life Insurance won’t bring you back, but it will provide a lump sum to clear a mortgage and other debts such as business loans or credit cards, cove the funeral costs and most importantly provide a remaining lump sum which can be invested to replace your lost income earning capacity.
So how much is enough?
This is where working with GNS Group can make the process so much easier. GNS can cut through the fine print of different policies to make sure you get what you pay for, understand what is important to you, compare different policies and features and in most cases, there is no requirement to do a medical.
It is also important to understand the best way of owning your policy and funding the premium costs.
Should it be inside super or non super, what about your business paying the cost of the insurance? It is not just an issue around cashflow and who is paying the cost, but also tax needs to be taken into account as you might see a big chunk of your Life insurance payout heading to the ATO rather than your desired beneficiaries. This is where the GNS team can help to explain all of the different options and recommend the most suitable course of action for you and your family.