What are the different types of insurance?
Pays a lump sum benefit if you die or have been diagnosed with a terminal illness and are unlikely to live longer than 12 months. Life insurance is essential if you have people, be they family or business associates, who are financially dependent upon you.
Critical Illness (Trauma)
Pays a tax free lump sum benefit upon diagnosis of specified medical events. A typical policy will cover anywhere between 30 and 55 events. The majority of claims are due to cancer, heart attack, by-pass or stroke.
Pays a monthly benefit of up to 75% of your income if you are unable to work, either temporarily or permanently due to illness or injury.
Total & Permanent Disability (TPD)
Pays a lump sum benefit if you suffer an illness or injury which leaves you totally disabled and unlikely to ever be able to return to work.
Do I need insurance?
When was the last time you, or an adviser, reviewed your cover? If your policies have not been reviewed for some years it’s likely they are costing you more than they should, and the definitions may have degraded reducing your chances of a successful claim.