Couples Without Insurance
How do you know if this page is for you?
- You would like to look after your partner financially if something were to happen to you.
- You currently don’t have insurance or have some only in your employer’s superannuation plan.
Which policies should I be looking at?
Life insurance can be used to ensure that debt isn’t passed on, also some people choose to leave a lump sum to their partner if something should happen to them.
In a relationship a major illness could affect both partners as a carer may be needed. Trauma insurance provides a benefit that can be used for both of you to take time off work, pay out of pocket medical expenses and other bills that may pop up.
The short term consequences of not working may not be as great for most couples however the long term effects are still disastrous! It is important to choose the right waiting period for you, however to also ensure that the benefit period covers the long term effects.
Full time carers and home modifications may be required if a disability is that serious that it prevents you from working in your occupation. A lump sum that is planned for properly will allow you to cater for these.