Luke on 2CC – What is Life cover?

Life cover – Why is it important? 

Financial Adviser, Luke Smith, Financial Planner CanberraFinancial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 12 March 2021. This week’s topic: What is Life cover and why is it important? 

Life cover helps you keep things going when you’re not here. This week Luke and Leon continue in the insurance series to explore what life cover or life insurance is as well as the key things you need to consider when looking at this kind of cover.   

Key highlights include:

  • What is life insurance?
  • Life cover can be used to pay off a mortgage or financially look after your family if something was to happen to you
  • It can also be used to pay off other kinds of debt too or used to invest and replace your income for your family
  • Is their a time in your life when life cover isn’t worth it?
  • Why is it important to review your life insurance as your life situation changes?
  • What do ‘definitions’ in an insurance policy mean?
  • Are there circumstances where your life policy might not pay out? 
  • Life insurance is not the same as Total and Permanent Disability (TPD), they are separate kinds of insurance
  • Did you know you can use super to pay for life insurance and it doesn’t need to be with the provider your super fund uses? There are sometimes better options outside of what your super fund offers
  • Luke’s top tips for considering life insurance – for yourself and business (if you have a business), and
  • A free appointment offer to talk about your own financial planning goals. Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.
Listen to the Podcast right now

Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’

Apple Podcasts


Do you need advice around life cover?

Life insurance
Life cover can pay off debts and help look after your family if something happens to you or your partner. Seek advice if you need help to work it out.

Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. Life cover can be complicated, but the good news is you can make an appointment to speak with Luke about your specific cover.

Make an appointment to confidentially discuss your own insurance, investment, super or retirement goals. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.

Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast.  We look forward to your company again.

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