WEALTH CREATION

Personal Insurance

Life cover provides a lump sum payments in the event of terminal illness or death. The lup sum paid is the amount for which you are insured. Subject to underwriting rules, there are no limits on the amount you can be insured for, but generally you want to ensure you cover your Owner Occupied debts as a minimum. This type of Insurance is also known as term insurance.

 

You can choose Life Insurance as a stand-alone policy, or combine it with Total & Permanent Disability (TPD) and/or a Trauma policy in which some insurers will provide discounts for packaging.

 

Did you know?

50 per cent of Australian families with dependant children don't have enough Life Insurance cover to look after their family for more than 4 years should they die.

 

11 Rice Warner Actuaries, 2011, Report on Underinsurance in Australia 2011