A protection review begins with dependants, household expenses, outstanding debts and existing assets. The aim is to understand the financial gap your family could face if your income stopped.
Compare the proposed cover amount, policy term, exclusions and premium commitment. A term policy is primarily protection; it should not be presented as a guaranteed wealth-building product. Complete disclosures accurately and keep nominees informed.
Points to consider
- Review affordability across the full policy term.
- Read exclusions and claim documentation requirements.
- Final cover and premiums are subject to insurer underwriting.
Frequently asked questions
How much cover do I need? It depends on your liabilities, dependants, resources and future needs.
Should I cancel existing cover first? Understand replacement terms and acceptance before changing protection.
General education only. Product suitability, availability, costs and risks need individual consideration. Read the important disclosures.