Life Insurance
Life insurance can provide financial support to dependants when a primary income earner is no longer there. Novo helps you think through the purpose, amount and duration of protection before comparing plans.
Financial protection for dependantsStart with the financial responsibility, not the product.
Income replacement, outstanding loans, children’s education and long-term family goals can all influence how much protection may be appropriate and for how long.
Family income protection
Create a financial buffer for dependants if the insured person dies during the policy term.
Liability protection
Consider outstanding home loans or other long-term obligations when estimating cover needs.
Term insurance
Pure protection can provide a relatively high life cover for a defined period.
Nominee planning
Keep nominee information and family documentation accurate and updated.
Questions to answer before comparing plans.
The right structure depends on the responsibilities you want the cover to support.
Who depends on your income?
List financial dependants and how long support may be needed.
How stable is income?
Consider current earnings, future growth and alternate household income.
What liabilities remain?
Account for long-term loans and major obligations.
What assets already exist?
Savings, investments and existing employer life cover can affect the protection gap.
How long should cover last?
Align policy tenure with working years and key family milestones.
What health facts matter?
Full and accurate disclosure is essential during underwriting.
Policy terms matter as much as the sum assured.
Review the contract carefully before purchase.
Exclusions
Understand exclusions and circumstances that may affect claim admissibility.
Premium structure
Compare regular, limited-pay or other payment structures in context.
Nomination
Ensure nominee details reflect your current family circumstances.
Riders
Assess whether optional riders solve a real protection need rather than adding complexity.
Disclosure
Declare health, occupation, lifestyle and financial information accurately.
Claims process
Make sure family members know the policy exists and where documents are kept.
Understand the protection before you commit.
Insurance decisions are easier when the purpose, trade-offs, exclusions, terms and servicing process are clear.
Requirement
Clarify who or what needs protection and what cover is already in place.
Options
Identify relevant policy structures and insurer options worth comparing.
Terms
Focus on limits, exclusions, deductibles, waiting periods and policy wording.
Support
Stay connected for servicing and claims-related coordination after placement.
Talk about life protection
Share the protection goal, approximate cover need or existing life insurance and we can help structure the next conversation.
Talk about life protection
Share a few details and the relevant Novo team will contact you.