As you start to build your wealth and begin securing your assets for the future, the need for life insurance grows. The older you are and the more expenses you acquire, the more vulnerable you could become without life cover in place. This doesn’t mean life insurance is only for mature people. Young Western Australians often have fewer financial obligations and may not need to get a comprehensive life insurance policy. This doesn’t mean it’s right to have all or nothing. There are different types of life insurance policies that can help protect your family if you pass away or can offer income protection if you are unable to work for a period of time. It pays to check your assets and lifestyle to find the right insurance for your life stage.
Being underinsured can make you financially vulnerable so it’s always worth rechecking your policy to ensure it’s working for you.