If one of life’s ‘what if’ moments happens – such as loss or interruption of income, injury or death – it’s important that your income and assets are protected by the right level of personal insurances.
With many Australians either not having adequate levels of insurance or no insurance at all, our Financial Advisers can assist you in finding the right cover to help you protect your family and your assets through life insurance (including total permanent disability), trauma and income protection insurance. Appropriate insurance cover is also a key element in many of our recommended estate and succession planning strategies.
Term Life Insurance
The most common type of insurance cover is term life insurance, which can provide a lump sum benefit to the policy owner in the event of death of the person who is insured. This cover is designed to financially protect families and/or businesses from the financial challenges arising from death, and provide important peace of mind and security during difficult times. This lump sum may help with areas such as repayment of debts, covering future needs such as the cost of children’s education or long-term care, providing funds for investment to generate an income stream or to keep a business afloat.
Total and Permanent Disability Insurance (TPD)
Total and permanent disability (TPD) insurance will provide a lump sum payment to help you should you suffer an illness or injury which causes permanent disability . Generally, a permanent disability means that you are unable to work in your current occupation, a job that you’ve worked in, or a job that you could do as a result of previous training or study. There are many specialised definitions of TPD, and our Financial Advisers can recommend the one most suitable for you.
Income protection (or salary continuance) insurance is designed to provide a regular income in the event that you are unable to work due to sickness or injury. Income protection insurance generally provides a regular income during a period of disablement, up to a pre-determined and agreed benefit period. The benefit amount payable may be up to 75% of your income and some policies will also cover your superannuation guarantee payments into your superannuation fund.
Trauma insurance (or critical illness) cover provides a lump sum benefit on diagnosis of a defined specified event. Trauma insurance is designed to help people financially following a trauma or crisis, such as a heart attack, stroke, cancer or other life threatening condition.
Subject to terms and conditions