Many people regard life insurance as a grudge purchase. Something they have to buy, not something they want to buy. This is exactly the wrong way to think about things. After all, how many things do you buy and hope you never use?
In 2016, ASIC reviewed the performance of the major insurers when it came to paying insurance claims. The report makes for troubling reading, especially for people who organise their own insurances. The news was much better for people who used a financial adviser to help them arrange their insurances.
Many working Australians – or Australians who used to work – have insurance of which they are unaware. This can be a huge relief if ever something goes wrong and you cannot work. If you or someone you know has become unable to work, then this article is a must-read. And if you think you might need help with a claim, please make sure you contact us.