Insurance in Australia
Life Insurance
Term Life Insurance is probably the most simple and inexpensive of all personal
insurance policies. This is because in its most simple form it covers one thing - death (or terminal
illness) of the insured person. What it can do for surviving family members or dependants, however,
is immeasurable.
Term Life Insurance is designed to pay a lump sum if an insured event occurs,
for example, you die or become terminally ill.
Take a moment to think of these expenses and how your family would meet them if you
were to die or become terminally ill?
- Mortgage
- Schooling costs
- Car expenses
- Food
- Paying the bills
- Funeral expenses
You may have money in a savings plan, or investments or perhaps equity in your home.
But turning these into cash may mean your family having to sell assets, which could cause even more
disruption at a time when they really need financial support and time to adjust.
It's not a pretty picture. This is why we would like you to consider Term Life.
To receive advice in relation to any insurance products please complete the
documents on the DOWNLOAD FORMS page.
Total & Permanent Disability Insurance - TPD Insurance
Total & Permanent Disability (or TPD) Insurance is essentially financial
protection against never being able to work again.
TPD Insurance is designed to pay you a lump sum should you be injured or struck
down by illness, rendering you Totally & Permanently Disabled as defined in the policy.
A lump sum benefit from a TPD Policy could be used to:
- make alterations to your home such as ramps and wider doorways,
- provide an ongoing income for you and your family,
- to cover the costs of a carer or home help,
- pay medical bills
- allow you to have a specialised treatment
The great news is that it can be added to your Term Life Insurance policy.
To receive advice in relation to any insurance products please complete the
documents on the DOWNLOAD FORMS page.
Income Protection Insurance
Salary Continuance Insurance
Disability Insurance
Being too ill to work is likely to affect your earnings and therefore your
ability to meet your ongoing expenses such as your mortgage or rent, utility bills, food and extra
medical bills.
Income Protection Insurance is designed to pay you an income should you be
unable to work due to illness or injury, resulting in a loss of earnings.
Under an income protection policy, you pay regular premiums to an insurance
company and, in return, they agree that - subject to certain conditions - they will pay you a
benefit if you are unable to work due to illness or injury.
Imagine you were unable to work for 2 years due to illness or injury:
- How would you meet your bills?
- What effect would it have on your savings and investment goals?
- How would you support your family?
- What if you were off work for 5 years?
- What if you could never work again?
An Income Protection policy has three key elements to it:
- Waiting period - this is the amount of time you have to be off work due to sickness or injury before payments are due to you. Waiting periods typically range from 14 days to 2 years.
- Benefit amount - the amount that will be paid by the Insurance Company when you satisfy the conditions of claim.
- Benefit period - this is the maximum period that benefits will be paid for - this can be as short as two years, or up to an agreed age like 65
To receive advice in relation to any insurance products please complete the
documents on the DOWNLOAD FORMS page.
Trauma Insurance
The problem with modern medicine is that it's too good. Illnesses or injuries that
in previous decades would have resulted in death now have very high survival rates.
While it's good news these patients do survive, can they survive the potential
financial strain of surviving?
Trauma Insurance is designed to pay a lump sum on diagnosis of one of the
specified Trauma Conditions, to meet the financial needs of recovery from critical illness or injury.
To receive advice in relation to any insurance products please complete the
documents on the DOWNLOAD FORMS page.
