Good advice. I did check my Super fund and it is only for a small about like $50,000. I have gone for $500,000 to cover the mortgage and other costs. I was quoted $26 a month. But I will ask what the term life is. Thanks for that.
You can increase the amount you are covered for with your super insurance. $50 000 seems like an incredibly small amount. I am covered for around $130 000 with my super insurance, and I only work 5hrs a week. My husband is covered for quite a significant amount which increases in line with his income. Also the benefits of using 'super' insurance is that you aren't directly out of pocket, although you could add extra contributions to your super to cover any extra cost if you wanted (which in some cases can actually increase your overall super amount as well).
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