Protecting my family's lifestyle
What if the unexpected happens to my partner or myself?
When considering this you're planning and preparing for an event most of us would rather not think about, but there are ways to ensure your partner or spouse and loved ones are looked after.
How can I make sure my family is okay?
Life insurance represents a critical step in managing your personal finances and ensuring your family's well being after death.
Westpac Term Life Insurance provides a lump sum upon death or being diagnosed with a terminal illness.
How much life insurance do I need?
Since life insurance can provide both a lump sum benefit and an ongoing income stream through the investment of the lump sum capital.
To calculate your required income stream you need to consider the actual amount your family needs annually, the number of years for which they will need this amount, and the interest rate (allowing for inflation) your family will earn on the life insurance proceeds.
Everyone's circumstances and insurance needs are different. Talking to a qualified Westpac Financial Planner 1 is highly recommended as they can:
- Provide answers on what gaps currently exist in your personal protection plan
- Recommend personal insurance options to suit you and your family’s needs.
What other options are there?
We have a number of other options that can be used to compliment your life insurance benefit such as Westpac Future Cover, Westpac Accidental Death Plan, Westpac Estate Plan, Mortgage Secure Insurance .
Review your options
Things you should know
- 1. Westpac Financial Planners are representatives of Westpac Banking Corporation, AFSL No 233714.
