insurance
You are your most valuable asset!
Life Insurance, Total and Permanent Disability, Trauma and Income Protection are available to protect you and your family. Often insurance is only considered after a health event occurs, making the cover you need harder to obtain.
Some of the events that should be a trigger to consider insurance are:
starting full time employment
starting your own business
buying a home
taking out a mortgage
committing to a long term relationship, and
having children.
By taking into consideration your personal situation and budget we can determine the amount of life insurance you need and the best ownership structure for your cover.
What is insurance?
Like insuring your car or your home and contents, Life, TPD/Trauma and Income Protection Insurances are designed to provide compensation in the event that something happens to you.
You may already get some of these insurances through your superannuation, or you may need to take out your own policies. We look at what type of cover you are already have, and determine whether we need to supplement or increase that cover to ensure you are fully protected.
What outcomes are we trying to achieve when looking at insurance cover?
Basically, we want to ensure you, your partner and/or family are financially protected should something happen to you, and your ability to earn an income.
If you were to be unable to work, would you be able to continue to manage your day-to-day costs of living?
What would happen to your financial goals?
Would you be able to pay any medical bills if you needed hospitalisation and ongoing medical care?
Would you be at risk of losing your home, or falling behind in your bills?
In the event of your death, or inability to earn an income due to significant illness or injury, having the appropriate insurance cover can minimise the financial impact of these events if they were to happen.
questions clients always ask about insurance
Life insurance can also include Total and Permanent Disability (TPD) and Trauma Insurance.
The main reason to have life insurance is to protect your family if you can no longer provide for them and/or pay out debts to alleviate financial concerns in a time of crisis or long term disablement.
Everyone’s life is different so you’ll need to keep your lifestyle, family, financial goals and other personal factors in mind when setting a cover amount. The amount of cover you will need will also change over time. If you increase debts or grow your family you may need more cover. As you get older, assets grow and children become independent, the needs for life insurance diminishes.
Life insurance is not a set and forget strategy, it is valuable to review your life insurance needs to ensure it is still providing the benefit required.
do i need life insurance?
Your ability to earn income is your greatest asset.
If you lose that ability, due to illness or injury, it may result in drastic changes to you and your family’s lifestyle.
Income protection pays a proportion of your income to you so that you can continue to manage your living expenses while you are unable to work.