Life insurance is one of the best ways to safeguard your family’s financial future but many Australians don’t have anywhere near enough cover to protect themselves, and some don’t have any at all. If you’re one of them, now is the time to change that.

An effective life insurance policy will be invaluable for enabling your family to meet everyday living expenses such as paying the mortgage or rent, tackling debt, paying the bills and education costs. For most families, these type of expenses would be difficult or impossible to keep up with if the main earner in the household were to die or not be able to work due to illness or an accident. As a worst case scenario, it could lead to debt or even homelessness.

Rice Warner’s latest report on underinsurance in Australia estimated that the average middle-income family in Australia with two children should have at least $680,000 of life insurance to fully protect themselves. In reality, the actual insured amount is less than half of this, meaning that most Australian families are woefully underinsured – often thanks to relying predominantly or solely on life insurance attached to their superannuation fund.

We therefore strongly recommend that you seek professional advice as to how much cover you really need to ensure the cover is adequate enough to protect your family and lifestyle. With over 13 years of experience in the financial services industry, Katriel Warlow-Shill and his team at Verdure Financial Planning Solutions are able to help advise you on the sums insured and which product is most suitable for your personal circumstances.

You might think that buying an adequate amount of life insurance will be mega expensive but this is definitely not the case. The cost of life insurance has reduced significantly in recent years, especially if you shop around to get the best value for money. By being proactive and obtaining a quote from us you could secure over $500 000 worth of cover for the price of a few cups of coffee per week. Even if you’re on a relatively tight budget, you can’t afford not to take the plunge. Remember that many insurances can be paid directly from your super fund meaning less stress on your personal finances.

At Verdure Financial Planning Solutions, we are happy to do the hard work for you by comparing quotes from 13 of Australia’s major underwritten life insurers. In just a few minutes, you can start seeing your options. These policies typically have more comprehensive coverage than you could find elsewhere, and are up to 30 per cent cheaper than “as seen on TV” insurance companies.

Our services are therefore much more cost effective than going directly through the insurers themselves, largely because there are no mark-ups on the policies.

Please do not hesitate to contact our friendly office staff if you have any questions that we may assist you with. If any of your personal circumstances have changed, such as a change in income or growth in your family, then please let us know to ensure your details are up to date and your insurances adequately cover your needs.

Katriel Warlow-Shill and SMSF Insurance Specialists Pty Ltd atf SMSF Insurance Specialists Trustt/as Verdure Financial Planning Services are Authorised Representatives of Synchron Australian Financial Services Licensee No. 243313.