I have been reading this forum for at least 5 years and this is my first post!
Reviewing my superannuation insurance I have been wondering if I actually need Death cover insurance. I am almost 30, immigrant with no relatives in australia, no partner or kids and I have been paying death cover through my super for the last 10 years. I work at an office, so little chances that I would die at work, my life is pretty low risk, but I know that things happens….
As you are finance savvy's, I was wondering what would be the impact of cancelling that part of my insurance cover. I am also planning on taking a mortgage soon, but my understanding is that lenders only worry about "Income Protection " and TPD insurance, not death cover. Is that correct?
All the best Ozbargainers!