Life Insurance
30 November 2020

Purpose: Life Insurance pays a tax free lump sum benefit on the death or diagnosis of terminal illness of the insured person. Life Insurance can be held inside or outside superannuation.

Why should you have it? To provide for your family/loved ones in the event of your death.  Life Insurance typically would make provisions for the following: repay outstanding debts, children’s current/future education costs, replacement income and funeral & estate planning expenses.

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