Should i have death and tpd insurance

You should check to see if you have death and TPD cover through your super fund, make sure you have enough cover and that the type of cover is appropriate (eg some cover reduces with age). It is worth talking to your financial planner about whether having your death and TPD cover in super is the right option for you.

What is death and TPD?

Death Insurance (also known as life insurance) is part of the lump sum benefits your beneficiaries receive when you pass away. TPD is a lump sum insurance benefit which is paid to you if you suffer an illness or injury that leaves you totally and permanently disabled.

Do I need TPD?

When deciding if you need TPD insurance, and how much, think about the expenses you'll need to cover if you were permanently disabled and unable to work. These could include: living expenses for you and your family. repaying debts such as a mortgage or credit card.

Is life insurance worth it Australia?

, life insurance can help repay debt and cover living costs if you die. If you don't have a partner, or people who depend on you financially, you may not need life cover. But consider getting trauma insurance, income protection insurance or total and permanent disability (TPD) insurance in case you get sick or injured.

Can you have multiple life insurance policies Australia?

In Australia it's possible to hold multiple life insurance policies, and this is actually more common than you might imagine. Life insurance is often included as part of your superannuation and many people still hold multiple super accounts, despite recent efforts by the government to encourage consolidation.