Life insurance provides a lump sum payment in the event of death to help you financially protecy your family or dependants lifestyle if something were to happen to you. We assist clients to determine an appropriate level of cover to ensure that their dependents financial needs are taken care of in the event of the insured’s death.
This typically begins with having sufficient insurance in place to pay off the mortgage plus an additional lump sum to provide for your children's education expenses or deliver an ongoing income to support your loved ones.
Trauma Insurance (also known as Critical Illness Insurance) pays a lump sum of money to the insured in the event that they become critically ill. The most common illnesses that these policies cover are heart attack, cancer and stroke, however, most policies include a long list of additional illnesses and disabilities.
The money received from a Trauma policy is typically tax free when owned personally and may be used for whatever purposes the insured desires, whether it be to reduce debt, seek specialist therapy which may not be covered by normal health cover or take time off to recover or travel.
Income Protection insurance replaces your lost earnings in the event that you are unable to work due to illness or injury. Most policies will pay up to 75% of your normal earnings if you cannot work due to disability should you opt to insure yourself for the maximum cover available.
There are a lot of features and benefits that can impact on the cost of income protection insurance as well as the quality of the product. We assist clients in finding the right policy for them within their budget.
TOTAL AND PERMANENT DISABILITY INSURANCE
Total & Permanent Disability (TPD) insurance can give you financial security when you cannot work. This insurance pays a lump sum if you were to suffer total and permanent disability.
There are different definitions of TPD insurance which can impact on your ability to make a claim on the policy so seeking advice to provide clarity around the options is incredibly valuable.
This type of insurance can be owned personally or by a super fund which can provide tax benefits but can also impact on the type of policy available. We work with clients to determine the right policy for them as well as an appropriate level of cover.