AT A GLANCE
What does life assurance cover?
Life assurance or life insurance can provide a payment on death, subject to the policy terms. Planning considers who depends on you, how much cover is needed, how long it should last and who should receive the payment.
Life cover can provide money to chosen beneficiaries or an estate when the insured person dies, subject to the policy terms. It may help address a mortgage, ongoing family costs or other commitments. The useful starting point is who relies on you and what support they would need.
What this can help you explore
- Review family needs and existing workplace or personal cover.
- Compare cover for a fixed period with whole of life options.
- Consider ownership and who should receive any payment.
Things to consider
Cover depends on underwriting, accurate application information, exclusions and premiums being maintained.
Policy terms and any trust arrangement affect how benefits are paid and their potential tax treatment.
Your questions, answered.
Consider debts, everyday spending, childcare and other support needs, then account for savings and existing benefits. The amount should also be affordable.
Life cover principally provides a death benefit. Income protection and critical illness cover address different needs and have their own terms.
Who provides this service?
The provider, applicable permissions, advice scope and terms must be confirmed before you proceed. Regulatory treatment and protections vary by service and product.
Regulatory information