Empty nesters – freedom, and the money and time to enjoy it
Free at last! The children are all grown up and living their own lives, and all of a sudden you find yourself with reduced responsibilities, more time to do the things you love and a lifetime’s worth of accumulated savings and assets to provide you with more financial stability than you’ve ever had before. You may decide it’s time to downsize, maybe even get a nice little unit near the beach somewhere.
The mortgage has long since been paid off, you really only need the one car, and if you’ve planned ahead and invested wisely, you’re probably in a great position to enjoy the fruits of your labours and do all that overseas travelling you’ve been dreaming about for so long. Boredom isn’t an option – the grandchildren will certainly see to that. But at this chilled-out stage of life, do you still need life insurance?
Empty nesters still need life insurance – now as much as ever
Life insurance is extremely important for empty nesters. Although Australia enjoys a high rate of life expectancy (around 80 years for men and 85 years for women)1, the chance that one of the partners will pass away increases as we age, so it’s crucial that the remaining Life insurance is extremely important for empty nesters. Although Australia enjoys a high rate of life expectancy (around 80 years for men and 85 years for women)1, the chance that one of the partners will pass away increases as we age, so it’s crucial that the remaining spouse is looked after in the event of an untimely death spouse is looked after in the event of an untimely death. And, because this is normally the time of life when you have amassed the most wealth, there is a lot at stake in protecting what you’ve worked so hard to achieve. Having life insurance in place that includes some form of funeral benefit also becomes a more important consideration, because it can take financial pressure off your children so they needn’t face the burden of these substantial costs.
Life insurance provides a safety net should the unexpected happen: you don’t want to have to be dipping into your hard-won savings to deal with serious illness or injury leading to your untimely death. If you still have major financial commitments and one partner dies, life insurance will help the surviving partner cope with existing financial obligations and future expenses - including medical costs, which tend to become a more prominent factor as we get older.
So what’s the most suitable cover for this stage of life?
As an empty nester, you want to protect your valuable assets and make sure your partner is financially secure if something should happen to you. Our Budget Direct Life Cover is a great choice for empty nesters. This is a lump sum payment that covers you in the event of death or terminal illness, and has an eligibility age up to 64 (next birthday), with guaranteed cover lasting until the policy anniversary after your 100th birthday. With immediate cover on approval, our Life Cover includes inflation protection, an Advanced Funeral Benefit, worldwide cover 24/7 and a 30 day cooling-off period. We’ve made it easy - there are no medical or blood tests required for Budget Direct Life Cover, We’ve made it easy - there are no medical or blood tests required for Budget Direct Life Cover, and you can choose to pay monthly, fortnightly or annually and you can choose to pay monthly, fortnightly or annually.
If you should pass away, Budget Direct’s Advanced Funeral Benefit is an advance that comes out of your Life Cover benefit. We recognise that your loved ones may need immediate funds to take care of funeral costs and other expenses, so while we’re assessing the Death Benefit claim, we may be able to advance a $10,000 lump sum payment to help with these urgent costs. For the specific terms, conditions, exclusions and limitations of Budget Direct Life Cover (including the Advanced Funeral Benefit), please read the relevant Product Disclosure Statement for full details. If you have further questions about our life insurance products, please check out our quick comparison page to see what we have to offer, and look at our FAQs too. Insuring with Budget Direct is made simple with a super-quick quote system, an efficient and hassle-free claims process and a level of customer service that you can rely on, whether you’re a brand new Budget Direct customer or you’ve been with us since your pre-empty-nester days!
At this stage of your life, you deserve a chance to relax and make the most of your new-found freedom and stable financial situation. If something unexpected were to happen to you or your partner and you weren’t insured, you might be looking at the prospect of selling your home, moving to a smaller house or liquidating your hard-earned investments. Isn’t it better to have the peace of mind of knowing you’re covered when you need it most, with quality life insurance that’s tailored to your individual needs?
Now’s the time to get your online quote from Budget Direct!
Don’t put it off – go ahead and grab an online quote for life insurance from Budget Direct today!