When Insurance Matters
Personal insurance is designed to provide financial support during specific kinds of life events. Below are general examples of the situations each type of cover is intended to help with.
Income Protection
Income protection insurance is designed to replace a portion of your pre-tax income while you are unable to work due to illness or injury. The benefit is paid as a regular monthly amount, after a chosen waiting period, and continues for a chosen benefit period. The intent is to help meet ongoing financial commitments such as a mortgage, rent, utilities and household expenses while you focus on recovery.
Life Insurance
Life insurance is designed to provide a lump sum to nominated beneficiaries on death or diagnosis of a terminal illness. Families typically use the proceeds to clear debts such as a mortgage, fund education or childcare costs, and replace lost income for a period of time. The right level of cover depends on financial commitments, dependants and individual circumstances.
Total Permanent Disability (TPD)
Total and Permanent Disability (TPD) insurance is designed to provide a lump sum if you become permanently unable to work. The proceeds may be used to clear debts, fund medical and rehabilitation costs, modify a home or vehicle for accessibility, and meet ongoing living expenses. The appropriate level of cover varies based on individual circumstances and the chosen TPD definition (own occupation or any occupation).
Trauma Insurance
Trauma insurance, also called critical illness insurance, is designed to pay a lump sum on diagnosis of a specified serious illness such as certain cancers, heart attack or stroke. Because the benefit is paid on diagnosis (regardless of whether you can still work), it is often used to cover treatment costs, travel or accommodation for specialist care, time away from work, or general financial flexibility during recovery.
* The information on this page is general in nature and does not take into account your personal objectives, financial situation or needs. Outcomes will vary based on individual circumstances, the policy terms, and the specifics of any claim.
Book a free, no-obligation conversation and we will walk you through the cover types available and how each one might apply to your situation.