Start with the questions that matter
How much debt should be cleared?
How long would the family need income support?
Who should own the policy and receive the benefit?
Start with the financial impact
We begin by identifying what would change financially if you were no longer there. This may include mortgage or other debt, household income, children's needs, funeral costs, future education, business obligations or support for a partner.
Existing savings, investments, workplace benefits and current insurance are considered before deciding whether additional cover may be appropriate.
What the advice may consider
- Who depends on your income or unpaid contribution
- Debt that should be repaid or reduced
- The period for which family income may need support
- Childcare, education and final expenses
- Business debt, shareholder or key-person needs
- Ownership of the policy and intended beneficiary
- Stepped, level or blended premium structures
Structure the cover deliberately
Cover can be owned personally, jointly, through a trust or by a business, depending on its purpose. Ownership can affect who controls the policy and receives the benefit, so legal and estate-planning advice may be needed.
Premiums can also change differently over time. A lower initial stepped premium commonly increases with age, while level-premium structures generally start higher and are designed differently. We explain the available choices and their long-term implications.
We calculate the need before the product.
We calculate the need before discussing the product. Debt, income support, children, existing assets, business obligations and affordability are brought together so the recommendation has a clear purpose.
A claim is payable only when the policy terms and applicable definition are met. Exclusions, special terms, premium changes and non-disclosure can affect cover.
