Not sure how much you need?
Have you just purchased an investment property ? Increased your mortgage ? Taken on more debt? Or just had your existing insurance for more than 2 years ?
So, how do you work out how much protection you need ?
Instead of someone selling you the answer, here is a quick guide:
There are 4 main things in life that most of us need to protect:
We call this the DIME theory.
Simply write this on a piece of paper:
D – Debt : How much personal debt do you have? (This includes car loans, personal loans and credit cards)
I – Income : What is your annual income x 5 years. (This will help continue the cost of living for your family)
M – Mortgage : Any outstanding mortgages (home and investment)
E – Education : If you have children, what is the annual cost of their education? Multiply this by their remaining years. (This will pay their tuition till end of school if you aren’t able to).
D + I + M + E = $
Add all these figures together and you’ve got a starting point.
Let us know this figure and Jarickson will search the insurers for you and send you several quotes based on your request. Simple!
Did you know that you can pay from your super fund? Ask us how.