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Personal Insurance

Mother holding her child.

This section details what you should know about the benefits & features of the various financial protection options available; the best choice for you will be entirely dependent on your unique circumstances.

Each product is a separate contract of insurance. You can combine the products you buy with a range of optional benefits; our professional financial planners can help you determine what is right for you.

The types of personal insurance products available are:

  • Life Insurance
  • Trauma Insurance
  • Total & Permanent Disability Insurance (TPD)
  • Income Protection Insurance
  • Business Expense Insurance

Life Insurance

Life Insurance provides a benefit in the event of your death; it can help your dependents cope financially after you die.
Life insurance could pay a lump sum in the event of your death which can be used to:

  • Pay off the mortgage or any other debts that may affect your family's financial future
  • Reimburse funeral costs
  • Pay child care or home help to aid the remaining spouse
  • Provide a reserve to use as income should the remaining spouse choose not to work

Trauma Insurance

A significant medical trauma such as cancer, a stroke, heart attack or any other major illness can result in many unforseen expenses.
Trauma insurance can help you with the cost of out-of-pocket expenses, loss of income, rehabilitation, home help & child care. It can also be used to clear your mortgage & other debts.
The Trauma insurance plan pays a tax-free lump sum on the occurrence of you suffering a trauma event, and surviving 14 days.

Total & Permanent Disability Insurance (TPD)

TPD insurance can help you cope financially with a total and permanent disability. TPD Insurance pays a lump sum that can be used for:

  • Payment of disability related costs including rehabilitation
  • Paying for changes to your lifestyle, e.g. to refit your home
  • Enabling your partner to reduce their work hours to look after you, or alternatively to get a carer
  • Paying off your mortgage or any other debts you may have
  • Providing a reserve to use as an income replacement

Income Protection

What is your greatest asset? Most people typically respond that it is their home or their investments ; however, your greatest asset is actually your ability to earn an income. Protecting your ability to earn an income should be a high priority.
Income insurance provides you with a replacement of up to 75% of your income if you are unable to work due to sickness or injury. Income insurance may also be available as part of your work or personal superannuation plan.

Business Expense Insurance

Business Expenses insurance can provide your business with a basic payment if something stops you from earning your business an income, such as sickness or injury.
This insurance will help your business pay critical day-to-day expenses. You can use this money to:

  • Pay for your business' rent, electricity, water or gas
  • Pay for employees' salaries and the cost of a medical locum (where fees incurred exceed the income generated)
  • Make regular business loan repayments

You can package your Business Expenses Income Plan with your Income Protection insurance.

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Sam El Shammaa
Christian Tanadinata