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Risk InsuranceIt is important for anyone who has a family that relies on them for help, whether it be monetary or domestically around the house to consider some form of risk insurance. You shouldn't wait until you have a loan to think about insurance, however it becomes even more important to cover yourself if there is any chance that you will leave your family with a debt that they couldn't pay without you. People insure their car, their house, their contents, but often forget the most important asset……themselves. Income Protection InsuranceThis insurance is normally allowable as a tax deduction and can therefore be relatively inexpensive. This cover replaces your income in the event of accident or illness. It can cover you if you are off work without income from one month or up until age 65. It allows you to continue paying off your loans and other expenses.It provides for a replacement income of up to 75% of your pre-tax income if you are unable to work due to Sickness or Injury. You may even be eligible for a benefit if you are able to work but at a reduced capacity. Life InsuranceThis cover provides your family with a lump sum in the event of your death or diagnosis with a terminal illness. It will allow for your family to pay out any debts and provide for the future.The benefit received can help meet funeral expenses, secure your family’s future through the creation of an estate, repay your mortgage and other debts, and protect your business or cover key business expenses. Trauma CoverThis insurance provides a lump sum when you suffer a serious illness (e.g cancer, stroke, heart attack) or trauma. The benefit you receive could be used to pay medical costs, repay debt, finance a change in career, pay for essential modifications to your home or provide an income.For more information on the above, a quote or to organise a consultation with a qualified adviser, please contact us on 1300 885 008.
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