Personal Insurance
DON’T BE SETBACK BY LIFE’S SETBACKS.
PROTECT YOUR BEST ASSET - YOUR ABILITY TO EARN AN INCOME.
ENSURE FINANCIAL STABILITY IN TOUGH TIMES
REDUCE FINANCIAL BURDENS
PROTECT YOUR FINANCIAL FOUNDATION
COVER YOURSELF WITH THE RIGHT COVER.
PERSONAL INSURANCE, INCOME PROTECTION & LIFE INSURANCE
In Australia, personal insurance is crucial for providing individuals and families with financial protection and peace of mind and serves as a safety net that helps mitigate the impact of unforeseen events, such as illness, injury, or accidents, which could lead to financial strain. Here's why personal insurance is essential for Australians, taking into account employment requirements:
Income Protection
Personal insurance, particularly income protection insurance, is crucial for Australian workers. If you're unable to work due to illness or injury, income protection provides a portion of your income to help you manage daily expenses and financial commitments. This is especially important considering that sick leave entitlements may not cover prolonged periods of absence from work.
LIFE INSURANCE
Life insurance ensures that your loved ones are financially supported in the event of your passing. It can cover outstanding debts and funeral costs and provide an ongoing income stream to help maintain their quality of life.
Healthcare Costs and Medical Emergencies
Australia's healthcare system, Medicare, provides a significant level of coverage, but there can still be out-of-pocket costs for medical treatments, prescription medications, and specialist care. Personal insurance, such as private health insurance or extras cover, can help cover these additional expenses and provide access to timely medical care.
Total and Permanent Disability (TPD) Insurance
TPD insurance provides a lump sum payment if you're unable to work due to a permanent disability. This financial support can help cover debt payouts, medical expenses, modifications to your home, and ongoing living costs.
Trauma Insurance
Trauma insurance provides a lump sum payment if you're diagnosed with a specified medical condition or critical illness, such as cancer or heart disease. This payout can help cover medical treatments, rehabilitation, and provide financial support during your recovery period.
Superannuation Considerations
Many Australians may have insurance coverage through their superannuation funds, including life insurance, TPD insurance, and income protection. It's important to understand that the levels of cover included in your super fund is quite often insufficient to adequately protect you. Speak to our financial adviser, Jared, who can determine what the appropriate levels and types of coverage are for you, based on your personal circumstances.
Personal insurance is a vital component of financial planning
It safeguards you when the worst things in life happen that can disrupt your financial stability and long-term goals.
By considering your individual needs, employment circumstances, and family responsibilities, our team can help you find the appropriate insurance coverage to provide the necessary protection for you, your loved ones and your lifestyle.
Your life is important and it’s important you talk to an experienced financial planner for advice when it comes to protecting your livelihood.
WHY personal insurance IS SO important
Financial security for you and your loved ones, along with business continuity where applicable.
Debt protection so others don’t inherit your financial burdens.
Helps you meet expenses if unable to earn an income.
Covers essential living costs so you can focus on recovery
Reduces financial stress and uncertainty.
UNDERSTANDING PERSONAL INSURANCE AT ANY AGE
FREQUENTLY ASKED QUESTIONS ABOUT personal insurance
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Choosing the right insurance coverage will be different for everyone, that’s why it’s important to consult with a qualified Financial Planner who can assess your individual needs, evaluate your financial situation, family responsibilities and potential risks, and determine which types of insurance and what level of coverage is most essential for your needs.
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The cost of your personal, life and income protection insurance premiums are influenced and adjusted according to many factors including, your age, any pre-existing health conditions, your occupation, lifestyle habits and the amount of coverage you require.
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The need for multiple insurance policies will depend on your individual circumstances. Some individuals may find comprehensive coverage through a single policy, others may benefit from having multiple policies that each address specific needs. For instance, having both life insurance and income protection insurance can offer a more comprehensive safety net, covering both long-term financial security and immediate income replacement during disability. A Financial Planner can provide advice on which approach is best for your individual circumstances.
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ENSURE YOU HAVE THE RIGHT INSURANCE
There are many different policy options, inclusions, exclusions, premiums and conditions.
Make sense of what you need to make sense of - for the protection of you and your family.
