Protect Your Loved Ones
Few of us expect to die prematurely – that happens to other people? Well ….
The fact is the chance of dying young is far less likely than suffering from a critical illness (refer back to trauma insurance) or a becoming disabled (refer to total and permanent disablement) for a period of time. The impact of premature death however is huge on the people you love and provide for.
You need to consider how your family would manage in the event of your death? Would they be able to live the lifestyle they enjoy now?
How much life insurance do I need to have in place?
- Your levels of debt
- The age of your children – your educational requirements for your children
- Relative earning capacity between you and your spouse
- Some money to help your spouse and family time to adjust to life without you… this is different for all of us.
Who gets the money if I die?
Will the premiums go up?
Rate for age is a structure of insurance that is priced based on your age and as you get older, the premiums increase.
A level premium is more costly to set up but the premiums do not increase for the period of the policy which may be through to age 65 or 70.
Taylor Made can have a look at the two options to see what is best for you. It may be a combination of the 2 delivers you the best protection long term.
Wills and Enduring Powers of Attorneys
Taylor Made Insurance Solutions takes a holistic approach to your protection plan and as such we believe it is critical that you have your estate in order. Having an up to date will and Enduring Powers of Attorney are the cornerstone of a good estate plan. We are not experts in this field; however we are happy to refer you to someone to discuss these issues in detail. Below are some of the commonly asked questions that we field regarding estate planning.
Why do I need to have a will?
- Provide instructions for the distribution of your assets after you die – who gets what.
- Appoint an executor and trustee to carry out your instructions – who will act on your behalf when you are dead.
- Appoint a guardian for your children.
- Specify funeral arrangements.
What if I have few or no assets?
What is the role of an executor?
When should I review my will?
What is an enduring power of attorney (EPA) and why is it so important?
There are two types – one to cover the ongoing management of your property or assets, and one relating to your personal care and welfare.