How much life insurance is actually enough?
The answer to this question is different for every person.
As a starting point, most people think about having enough insurance cover enables a person to;
- Payout out all debts.
- Be able to provide a nice place to live to their survivors.
- Be sufficient to provide an income for their surviving partner or family member.
- Be sufficient to provide a legacy for a new child.
Make sure you watch our animated explainer video about this question, here too.
The Australian Government's SmartMoney website has a general life insurance calculator that you should be familiar with, then speak with us.