Getting the right amount of insurance is a balancing act. You want enough cover to protect your family, but you don’t want to pay for more than you need. At AdviseNow, we use a personalised approach to help you find your “Goldilocks” zone of protection.
The ‘Needs’ Analysis
We start by looking at your liabilities (mortgage, debt) and your goals (providing for children, replacing income). By calculating these, we can determine the exact lump sum or monthly benefit required to keep your family secure.
Reviewing as Life Changes
Your insurance needs aren’t static. When you get married, have a child, or pay down your mortgage, your requirements change. We recommend a regular review to ensure your cover still matches your reality.
Key Takeaways
- Base your cover on actual debts and future needs.
- Don’t just guess—use a professional advisor for accuracy.
- Review your policies every 1-2 years or after major life events.
Disclaimer: This information is general in nature and does not constitute personalised financial advice.
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