Does it still make sense to think about Life Insurances today?

The good news about life insurance is; if you need life insurance you probably have something (or someone) worth protecting. The good news about life insurance is; if you need life insurance you probably have something (or someone) worth protecting.

Life still goes on, even in the middle of a Pandemic.

Yes, it makes perfect sense to think about life insurance today - especially today - because life still happens to us all, all the time, even during difficult times.

One of the dangers of living through difficult times (and the LGBTI Community is no stranger to surviving difficult times) is we can sometimes fixate on the biggest issue and ignore the most important issue - our life, love, and relationships continue regardless.

Our innate adaptability can lead many LGBTI couples to embrace wildly different financial goals, styles and circumstances in our partners.

LGBTI relationships are also a prime opportunity to help each other economically. We bring all kinds of economic capacities to the table and often share a range of friendships and an extended family of choice.

Celebrate that. Protect that.

Good News

The good news about life insurance is; if you need life insurance you probably have something (or someone) worth protecting.

Simply put, insurance is protection against some type of risk and is designed to pay a lump sum of money to whoever you chose if you unexpectedly pass away.  Life Insurance can also be turned into cash if you become terminally ill.

5 Situations when getting your Life Insurances sorted makes sense.

Here are 5 circumstances where getting your life insurances sorted make total sense.

  1. If you are renting and want to make sure your partner has somewhere to live, in a community where they still feel supported if you pass away unexpectedly.
  2. You have a mortgage or other significant debts and you want to pay them off for your loved ones if pass away unexpectedly.
  3. If you're partnered and you want to provide for your partner if you pass away - especially if you're the primary breadwinner - and you want to provide an income stream to replace your income for your partner if you pass away unexpectedly.
  4. If you have kids (or favourite nephews and nieces). Maybe you want to cover or support their Education costs – perhaps even their Higher Education Uni fees. If you're a stay at home parent, maybe you want to cover child care costs, maybe you just want to provide an inheritance to your children or maybe you’re responsible for aging parents and need to make sure if something unexpected happens to you that they are kept safe and provided for.
  5. If you own a business. Your family probably relies upon your business income to survive. You might have business debts that could fall onto your family if you don't have a life insurance or disability buffer. You might have a substantial amount of personal money invested in the business and you want to make sure that can be repaid upon your death or disability. (A good first step is to check in with your Accountant and ask about the balance of your ‘Directors account,’ then ask yourself if you want to risk that). 
    Maybe you just don't want what you have worked so hard for to simply fall apart on your death or a disability

If any of these 5 situations apply to you, the next question will probably be, ‘How much Life Insurance do people need?

Where to from here?

  • Watch one of our fun explainer videos How Much Is Enough to help start your thinking about that question.
  • Then when you’re ready, talk with us about your personal situation and ask for a quote.

Pro Tip: The things you can do with Life Insurance are was wide and varied as our relationships – and you can even have your life insurance premiums paid directly from your super fund if you’re keeping an eye on your cash flow – and today – who isn’t.

If you’d like to know what an amount of life insurance might cost you and how it can bring immediate certainty to your back up plans, we’d love to chat – and help you out with that.


Start up a conversation with us today to see if we're the type of people you'd like to help you get some of your financial life sorted.

Drew Browne

Drew specialises in helping people protect and provide for what matters most in their lives. He's an award-winning writer, speaker, financial adviser and business strategy mentor. His company Sapience Financial and Investment Services is committed to using business solutions for good in the community. In 2015 his company certified as a B Corp. and in 2017 Drew was recognised in the inaugural Australian Westpac Businesses of Tomorrow national awards. He writes for successful Small Business Owners and Entrepreneurs at Smallville, his blogs can be read on and you can connect with him on LinkedIn.

Any advice provided is general advice only and we have not considered your personal circumstances. Before making any decision on the basis of this advice you should consider if the advice is appropriate for you based on your particular circumstance.