Life insurance is designed to provide financial security for dependants in the circumstance of death. Life insurance can assist in replacing lost earnings (which may be substantial) to cover the costs of daily living, education, debt and funeral expenses.
Total Permanent Disability (TPD) insurance is payable in the event of becoming totally and permanently disabled. It can leave a person severely incapacitated, yet still needing to be able to fund expenses for care, which is often specialised. In addition, funds are also required to cover the costs of daily living, education, debt and home adjustment costs.
Trauma insurance provides a lump sum benefit in the event of specified illnesses. Advances in medicine have meant that today we survive more serious illnesses than ever before. However, many people who survive such traumas as cancer face financial stress. Trauma insurance provides a lump sum benefit that can be used for medical expenses, rehabilitation and home modifications.
Income protection insurance provides a continuous flow of income in the event of an illness or injury which keeps the insured from paid employment. You can insure up to 75% of your client's income, payable up to the age of 65, ensuring that your client can meet their financial commitments in the event of an injury or illness that prevents them from working. |
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Product Definitions