Take Rob for example, a project manager with two children. Rob wasn't too concerned about his family's financial situation because he had superannuation, insurance in super, and some savings. However, Rob's wife did have concerns, so they sought the advice of a financial adviser. Rob was surprised to find out he only had $270,000 of life cover in his super fund's insurance plan.
The adviser recommended he put in place a financial plan that included Life Care to top up the life insurance he held in his super fund.
Just as well he did because, sadly, two years later Rob died in a car accident. Rob's legal representative submits the full death certificate and claim forms to CommInsure, and because Rob's death meets the conditions of the policy as disclosed in the CommInsure Protection Product Disclosure Statement (PDS), CommInsure paid Rob's family a lump sum of $700,000. This covered the mortgage and all of the children's educational costs.
Imagine the financial consequences for Rob's family if he hadn’t had Life Care?