Term Life insurance is the most straight forward type of personal insurance – it pays in the event of death. These policies are renewable each year and as long as you continue to pay the premiums, will provide a lump sum death benefit to your listed beneficiaries in the event of your death. read more on term life insurance
Total and Permanent Disability insurance is designed to cater for serious accidents and illnesses where it is more than likely that you will ever return to work in either your own or any occupation.
This type of insurance provides you with a lump sum so that you can cover costs such as medical costs associated, household renovations and replacement of income. read more on TPD
Trauma or sometimes called ‘recovery’ insurance is designed to provide a lump sum benefit in the event of the life insured suffering a listed traumatic illness. What is defined as a traumatic illness differs from policy to policy and it important to understand the events in which you will be covered when looking for the best policy in your situation. read more
Income Protection insurance aims to protect usually up to 75% of your income (including superannuation contributions and other benefits) in the event that you are unable to work due to accident or illness.
Income protection policies vary greatly unlike other types of personal insurance. In addition to the sum insured or monthly benefit amount, the waiting period, benefit period, type of contract (agreed amount or indemnity) and additional benefits are some of the features that need to be taken into consideration when matching your situation to a policy. read more on Income Protection
Business expenses insurance is available to certain self-employed persons who wish to cover their business expenses should they be unable to work because of illness or injury. An ongoing income stream is paid by the insurance company and can reimburse up to 100% of approved business expenses. read more
Key Person insurance is a way to structure life insurance policies that are for business purposes in order to protect key people in a business. Premiums are usually tax deductible to a business and benefits are paid to the business in the event of a successful claim. read more key person insurance
When looking for the right Personal Insurance (Life Insurance, Income Protection, Total and Permanent Disability and Trauma Insurance) policy within Australia, it is important to consider which premium structure you would like to choose. Stepped premiums are great in the short term, though will end up costing you a lot more in the longer term than level premiums. Read more
With changes in recent legislation the ability to place life insurance products under superannuation has broadened. It is now commonly accepted that products such as Death Cover, Total and Permanent disability and Income Protection policies can now be funded via Superannuation funds. Read more on Insurance within Superannuation
After having had my income protection, with a company based abroad, for the last 15yrs I recently decided to sort it here in Australia.(Now based here so it makes sense.)
Needless to say the thought of trying to get a similar product for a good price was a concern....
Dr S.T (BDSc)
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