Belinda, age 37, is a widowed single mum earning $200,000 p.a. (plus superannuation guarantee contributions). Her personal expenses, including mortgage repayments are around $100,000 p.a. She has two young children aged 10 and 12.

With no other assets apart from her home, car and contents, Belinda has minimal savings outside of superannuation ($150,000 balance); two weeks of annual leave and three weeks of accrued sick leave owing to her from her employer. She has $100,000 term life and total and permanent disablement (TPD) insurances in her superannuation fund.

Whilst Belinda is in good health, she wants to make sure her and the children have protection in the event of her illness, injury or death.

Advise Belinda as to:

1. What types of insurance she should have in place? Justify your response. (6 marks)
2. What level of cover of each type of insurance should she have (including the waiting and benefit periods for income protection, if recommended)? (9 marks)

   Belinda, age 37, is a widowed single mum earning $200,000 p.a. (plus superannuation guarantee contributions). Her personal expenses, including mortgage repayments are around $100,000 p.a. She has two young children aged 10 and 12.

   With no other assets apart from her home, car and contents, Belinda has minimal savings outside of superannuation ($150,000 balance); two weeks of annual leave and three weeks of accrued sick leave owing to her from her employer. She has $100,000 term life and total and permanent disablement (TPD) insurances in her superannuation fund.

   Whilst Belinda is in good health, she wants to make sure her and the children have protection in the event of her illness, injury or death.

   Advise Belinda as to:

3. What types of insurance she should have in place? Justify your response.
4. What level of cover of each type of insurance should she have (including the waiting and benefit periods for income protection, if recommended)?