Understanding the risks

Before you choose your life insurance, make sure that it gives you the right level of cover for your needs.

Here are some things to consider:

  • Understand the best type of cover for your lifestage. See:
  • Know how much cover you’ll need to protect your family and assets. It’s important that you not only insure your family for the correct amount, but that the right insurable events that you require are covered under your policy. See How much insurance do I need?
  • If you’re replacing one contract or policy for another, check all the terms and conditions of each policy before you decide to change, as well as the insurable events that are covered in the new policy. There’s also the risk that if you decide to start a new policy and your health has deteriorated since your last policy was taken out, your new insurer may be able to avoid a claim.
  • Remember that life insurance doesn’t provide savings or investments. If you cancel your policy after the 30-day cooling off period, you won’t get any money back, unless you’ve paid more than 30 days in advance. You should also note that you may pay premiums for a significant amount of time before ever needing to make a claim under your policy.

Real Insurance is a multi-award winning insurance company, so you can relax knowing you and your family are in safe hands.

If you need help understanding all the risks and options available, call us on 1300 377 325 or have us call you.

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