We specialise in personal insurance (also known as Risk insurance).  We are licensed to advise on the following types of insurance:  Life, TPD, Trauma (critical care) & Income Protection (salary continuance).  All insurance should be reviewed at least every 3 years to check the cover is appropriate and cost effective.  Insurance should reflect your life needs and as your life changes, so does your insurance needs as well as your ability to get insurance.

Life insurance pays out a lump sum on the death of the insured.  It can be held inside your super fund, which takes the pressure off your general budget.  You can hold life cover on your own life or on the life of your spouse and certain other people such as your business partner.  When working out how much life cover you need, think about:

  • How much debt you have and whether you want it paid off if you died
  • A lump sum to cover the cost of raising your children until they are independent.  We can help you calculate this amount.
  • If you’re in business with a non-relative, how much will their spouse be expecting you to pay if your business partner died & you want to continue in business?  We can help you calculate this amount if you are unsure.
  • Funeral costs
  • Whether you need a lump sum to top up your spouse’s super if you died.  We can help you with this.
  • Any legacy you might wish to leave.
  • If you are in a second relationship with children from a prior relationship, you may want to provide for them with life cover.  This way your new spouse may be saved from financial hardship if you die and the children challenge your Will.  We are happy to discuss your options in this regard.

Trauma cover

aid-1807541_640Trauma cover (also known as Critical Illness or Recovery cover) pays out a lump sum on diagnosis of a disease (including heart attack) covered by the Policy.  The list of diseases is mind blowing.   Feel free to ask us for a copy of a list of diseases, issues & other bodily malfunctions covered by various companies.  Payments are generally made about 30 days after diagnosis once a claim is submitted.

This is a marvellous product that enables people to concentrate on getting treatment rather than stressing about money.  It can also ease financial stress by providing money to replace the income of the well person so they can take time off work to run the sick one around for treatment.  We highly recommend trauma cover and will be delighted to help you select an affordable level of cover.  There are all sorts of options available.

Income Protection

x-ray-1273382_640Income Protection covers up to 75% of your income from work or business.  Business owners can also opt for an extension to cover nominated business expenses should they go on claim.   This is a fantastic product as quite often it is the difference between being able to maintain your lifestyle if something goes wrong and total financial collapse.

Your income earning capacity is usually the single biggest asset a person has and it therefore makes sense to protect it.  It is easy to get when you are well and fit.  But don’t despair if a few things have gone wrong with your body as we may still be able to get full or part cover.

Income protection can be held inside or outside super and it is tax deductible.  You can have level or increased (stepped) premiums.  You can insure to receive a set amount each month or have an annually increasing amount automatically put in place to cover wage increases.

Total & Permanent Disability Insurance

wheelchair-749985_640Total & Permanent Disability Insurance (TPD) pays out if a person becomes totally and permanently disabled.  This insurance can be held by a super fund and is usually combined with life or trauma cover.  There are a couple of variations and you can feel free to ask us whether this insurance is appropriate for you or not.

At times people qualify for more than one payout.  For example if a person is diagnosed with cancer they may qualify for a lump sum payout on their trauma policy as well as income protection.  The difference this makes in someone’s life is tremendous.  The trauma payout might be enough to pay off debt and help with treatment costs, while the income protection helps pay the usual household bills so life can go on while they focus on getting well.

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