Many people put off purchasing life insurance products until it’s too late. Don’t get caught out. Ask yourself, if you were no longer able to work due to injury or illness, or even death, who would pay for your mortgage, children’s school fees, clothes, food?
Life Insurance
What is life insurance?
Life Insurance pays out an agreed lump sum in the event of death or terminal illness (an illness from which you are expected to die within 12 months diagnosed by a Medical Practitioner). The only exclusion is death due to suicide in the initial 13 months. The lump sum payment can be used by your beneficiaries to:
pay off debts (such as a mortgage), and/or
provide an income so that your loved ones' lifestyle is not compromised
Total and Permanent Disablement Insurance
What is total and permanent disability insurance?
Total and Permanent Disability insurance (TPD insurance) provides a lump sum in the event of you becoming totally and permanently disabled. TPD insurance can be used to fund rehabilitation costs, repayment of debts and the other general day to day costs. Normally the lump sum is not paid until the disability has been evident for six months, and the insurer deems that you are unlikely to work. TPD insurance can pay for:
lifestyle changes, and/or
debts (including mortgages)
Income Protection
What is Income Protection?
Income Protection can cover up to 75 per cent of your annual salary for a pre-determined period of time, if you are unable to work due to sickness or injury. You will continue to receive payments until you return to work or to the end of the benefit period. The premiums paid are tax deductible. Income Protection insurance can pay for:
mortgages repayments, and/or
other day to day living expenses
Insure your life today and provide stability and security for your family tomorrow.
Disclaimer General Advice: The information contained in this website has been prepared without taking into account your objectives, financial situation or particular needs and is General Advice only. Our insurance partner is Lifebroker, who have prepared these quotes. We recommend you speak with a Lifebroker life insurance specialist for any queries your may have. National Financial Solutions Pty Ltd (AFSL 284182) or any related companies will not be held responsible for the merits of this advice to your circumstances.
For more information on life insurance products, visit Lifebroker.
