Don’t fall into the set and forget trap with Personal Insurance

Perhaps you are one of the wise minority who understands the value of Life Insurance to protect your family’s financial future.

You’ve made the arrangements and you have a good Policy in place.

But have you completely undermined its effectiveness by not keeping it up to date? Not reviewing your Policy to ensure the insurance is still adequate.

Or maybe yours could be among the one in four policies (*according to research by Finder.com.au) that will send money to an out-dated beneficiary?

Worryingly, the research also showed 25 per cent of people with life cover in superannuation, were not even sure if they had nominated a beneficiary!

Life Insurance – could ACTUALLY be your most precious asset, so it makes sense to take care of it by reviewing its details regularly.

Maybe your family has grown since you first set up the policy?

Or maybe your lifestyle has changed, you’ve bought a new house, have more debt?

All of these events could impact the amount of cover you would require to protect your family’s financial future.

Could your spouse or children cope financially if something unexpected were to happen to you?

It is worth considering. Phone us at MGIB if you would like help with reviewing the adequacy of your cover.