Life Insurance
Term Life insurance provides financial protection to your beneficiaries, your family and their financial future by paying a lump sum in the event of your death.
Why Do You Need Life Insurance Cover?
A life insurance policy:
- Guarantees a level of financial security for your dependents.
- Can provide estate equalisation for your beneficiaries.
- May allow you to leave your partner debt free.
- Is able to provide a capital lump sum for your beneficiaries to generate a regular income.
- Is possible to replace lost income for an early or untimely death.
How Much Life Insurance Do You Need?
Sum insured guideline amounts:
| Life Insured Age | With Dependents | Without Dependents |
| Up to Age 45 | 20 times* plus debt | 10 times plus non-deductible debt |
| From Age 45 – 50 | 15 times* plus debt | 8 times plus non-deductible debt |
| From Age 51 – 60 | 10 times* plus debt | 5 times plus non-deductible debt |
| Over 60 | 5 times* plus debt | 3 times plus non-deductible debt |
To find out the level of cover that is most appropriate for you, contact us by phone or send an email enquiry.
Life Insurance and Superannuation Considerations
You should be aware if you are choosing life insurance under superannuation; any benefit payment is made to the Trustees who will then release the benefit to you or your beneficiaries, subject to you satisfying the appropriate condition of release under superannuation law.
If you do not meet the condition of release, the benefit must remain in the fund until a condition of release has been met. For further information, benefits and restrictions on term life insurance held under superannuation, refer to your relevant Product Disclosure Documents.
Need life insurance?
Looking for the best life insurance policy? Speak to Russell Van Homrigh Financial Services to discuss your personal needs and circumstances. Call us to arrange an appointment with our financial advisor or click here to enquire about our wealth protection services.
Russell Van Homrigh Financial Services and Russell Van Homrigh are Authorised Representatives of Synchon AFS Licence 243313.