Before making any decision about your insurance needs it's important to have the right conversation with those closest to you; your partner, your family or even a friend.

Making the right decision is about understanding what risks you and your family face and having an open and frank conversation about how you would cope financially if the worst were to happen.

Your insurance needs will ultimately depend on your income, debts and lifestyle. It may be that you have enough savings or investments to rely on, or that you have an extended family you could fall back on. You might be comfortable compromising a little on your current lifestyle or falling back on the income of your partner.

Lifewise is committed to making it as easy as possible to consider these questions and to protect yourself from the financial risks associated with a loss of income from accident, sickness or death.

If more insurance is the answer for you, the next question is probably 'Who can I talk to?'

There are three options:

Contact your super fund – your super fund may already have an insurance offering that suits your needs. Find out more here.

Speak to a professional financial planner – you may feel that discussing your insurance needs with a professional financial planner may be a wiser choice. Find out more here.

Talk to a direct provider – you may feel comfortable approaching an insurance company directly. Find out more here.

• Contact your super fund

• Speak to a financial planner

• Talk to an insurance company directly