Protecting your business
Financial protection insurance forms a critical part of the financial planning process, providing financial security for you and your family. Put simply, financial protection insurance is there to provide you with protection against the financial implications of an event such as death, disablement, serious illness or injury.
Through our affiliate insurance group, we can provide clients with quotes on a full range of insurances:
- Home and Contents
- Motor Vehicle
- Office Contents
The average Australian worker will earn over $2 million in their 40-year working life. With these facts in mind have you ever considered what would happen to you and your family if you were sick or injured and unable to earn that money?
Insurance industry statistics tell us that every working Australian has a one in three chance of becoming disabled for more than three months before turning age 65.
Employees may be entitled to a limited amount of sick pay from their employer but workers’ compensation only covers you for work related injuries – a small percentage of the causes of disability.
On the other hand, an income protection policy will pay you up to 75% of your income (salary plus super and any other benefits) allowing you to maintain your lifestyle and keep paying your mortgage and other debts.
Income Protection insurance is a vital link in providing you and your family with a regular income stream during times of illness or injury.
In the event that you are unable to work due to prolonged illness or injury, income protection provides you with a monthly benefit of up to 75 per cent of your salary. This is paid while you are unable to return to the workforce, up to age 65.
No one likes to think about the worst case scenario but every day in Australia 220 people are diagnosed with some form of cancer and over 36,000 Australians die from cancer each year.
Statistics tell us that serious illness does not discriminate based on age or gender and the reality is that most Australians are under insured or not insured at all.
When considering life insurance the most important question is, can you afford to live without it? Most people have financial commitments no matter what stage of life and you can be insured against death, injury or illness:
Life insurance helps alleviate the financial burden your family may be left with after your death. Usually paid as lump sum, your dependants can use this money at their discretion to assist with medical costs, funeral expenses or help secure their future.
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Total and permanent disability (TPD)
This is generally taken as an optional extra within a life insurance policy, but can also be arranged as a stand-alone policy. In broad terms it provides a lump sum in the event of a permanent disability (due to illness or injury) that prevents you from returning to work (e.g. Losing both hands).
Trauma insurance is generally paid as a lump sum upon diagnosis of an eligible condition (eg cancer, heart disease), and the funds can be used at your discretion.
Speak to us today on how we can assist you with your insurance needs.