When you set out to protect yourself or your business against life's risks there are many options available for you to consider. These options are:
|
INSURANCE TYPE |
INSURED EVENTS |
POSSIBLE PURPOSES |
BENEFIT PAYMENT TYPE |
|
Life |
When the Life insured dies or becomes terminally ill. |
Leave money for Estate to help fund future livings costs, help pay out debt or assist with a business buy out. |
Lump Sum or on-going instalments. |
|
Total & Permanent Disability (TPD) |
When the Life insured becomes totally & permanently disabled. |
Help pay out debt, provide money to maintain standard of living, cover medical expenses or assist with a business buy out. |
Lump Sum or on-going instalments. |
|
Trauma Cover |
When the Life insured suffers from a specified trauma condition (eg. a specific type of cancer). |
Help pay out debt, provide money to maintain standard of living, cover medical expenses or assist with a business buy out. |
Lump Sum or on-going instalments. |
|
Income Protection |
When the Life insured is permanently or temporarily disabled and is unable to work. |
Replace wages/salary so that the injured can continue to meet living costs and mortgage payments. |
Instalment. |
|
Business Expense Cover |
When the Life insured is permanently or temporarily disabled and is unable to work |
Provides cash to help pay business overheads. |
Instalment |
|
Key Man |
Insuring against the death, tpd or trauma of a key member of your business. |
Provides cash to help offset the negative impact to the business as a result of the death or permanent disability of a key member of the business. |
Lump Sum or on-going instalments. |
