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Life Insurance: Are You Covered?

The problem with a problem is that we don’t know its one until it’s often too late.

Life Insurance is an often-misunderstood product with many people thinking – I can’t afford it or it’s only for people who have high net wealth.


Why life insurance is important:

Life Insurance helps to protect your assets and family if something was to happen to you. If you’re the sole breadwinner or operate your own business and suddenly, your income was gone – would your family be ok?? Would they have enough income to pay the mortgage, school fees and manage everyday living expenses, as well as potentially taking over the running of your business.

Life insurance is a protection against life’s unwanted events. And while we don’t want to focus on the doom and gloom – being prepared is being forearmed, and if tragedy were to strike, you could be rest assured your family would be ok without you.


Most people are under-insured:

Unfortunately, we see all too often people who are not adequately protected. There are over twelve million Australian’s who participate in the workforce and it’s been estimated about eight million of them don’t have adequate insurance to cover loss of income.

For most of us, our capacity to earn an income is the most valuable asset we have. For example, someone on an average salary of $50,000 (in today’s dollars) has the potential to earn over $1.7m during their working life. But we tend not to think of our capacity to earn a living as an asset that need’s insuring.

With many Superannuation funds include life cover as part of their product – the level of life insurance across the board is increasing. But most people rarely take the time to look at their Super cover to determine if it’s adequate, resulting in shortfalls and underinsurance.


How to check your life insurance:

  1. Check your current Superfund level of cover and determine if that is adequate.
  2. List what assets and level of debt you currently have – this will help you calculate the shortfall between your current life cover and your current level of debt.
  3. Consider looking at increasing your level of protection by taking out income protection or additional life insurance.


Need more help?

Get in touch with the team at Simmons Livingstone today for a no-obligation review of your income and life cover protection.



SIMMONS LIVINGSTONE & ASSOCIATES GENERAL ADVICE WARNING This information is of a general nature only and neither represents nor is intended to be specific advice on any particular matter. Simmons Livingstone & Associates and Infocus Securities Australia Pty Ltd strongly suggest that no person should act specifically on the basis of the information contained herein but should seek appropriate professional advice based upon their own personal circumstances.

Kris has over 16 years' experience in the business advisory, accounting and taxation industry. His initial years were spent with WHK Group and PKF before founding Simmons Livingstone & Associates in 2013.

As Managing Partner, Kris has steered the firm to success, being instrumental in expansion of the firms client base and subsequent recruitment to increase the professional team size.

He brings his extensive experience within a variety of areas of business services and compliance, and has a proven track record of success with clients from a variety of sectors. Not only is Kris a an exceptionally valuable asset to the firm, his business advice is invaluable for professional service clients, from a financial perspective.

Kris places a strong focus on:

Kris is a forward thinking person who is dedicated to providing his clients with the best possible outcome in all situations. With a keen eye for detail, he ensures nothing is overlooked, so that client outcomes are maximised.

Kris has a young family and outside of work, when he’s not spending valuable time with the family, you’ll find him on the golf course or sampling a brew with the guys.

Simon began his career at PKF and several boutique accounting firms. He has established his reputation for excellent accounting consultancy, which has spanned over 13 years.

Simon is a passionate business advisor, specialising in:


Simons personable service and attention to detail ensures his professional relationships remain strong.  As a partner at Simmons Livingstone, Simon has lead the substantial growth of the firms large corporate space.

Through his sporting connections, Simon also has a strong reputation as an industry leader for professional sports men and women, representing sporting players and companies involved in various professional sporting federations and leagues.

Simon is a former representative golfer, and still enjoys a round most weeks. An avid sports enthusiast, you’ll find him kicking back with a red wine if there’s a good game on.

Tom joined the Simmons Livingstone & Associates team to head the financial planning division in 2015. 

Tom has a passion for providing quality advice and exceptional service.

He is driven to:

His approachable and trustworthy demeanour makes his service enjoyable and ensures a relaxed environment for decision making about financial matters.

Tom's extensive network of allied professional services provide the same level of outstanding consultancy, so clients can be assured that any financial problem or opportunity will be addressed with Tom's help.

Outside of work, Tom likes to be outdoors. He plays football and golf amongst other things. You will also find him enjoying good food and good beer with good friends.

Sam is our newest Partner to the Simmons Livingstone & Associates team, working with Tom in our Financial Planning division. 

Sam has a strong passion to educate and inform his clients about the importance of financial planning and getting started early. 

He is focused on:

Sam's greatest asset is his ability to support his clients to better financial wealth using his extensive network. 


SLG Financial Services Pty Ltd ABN 63 734 659 141 Ltd [t/a Simmons Livingstone & Associates] is a Corporate Authorised Representative of lnfocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523. Please Note: SLG Financial Services Pty Ltd is only authorised by lnfocus Securities Australia Pty Ltd to provide services related to financial products. Where services provided by SLG Financial Services Pty Ltd extend outside of financial products, please be aware that lnfocus is not responsible for this advice or service.