Personal Risk Insurance
Personal risk insurance refers to insurance policies that provide financial protection to individuals and their families in the event of death, accident, injury, or illness. These policies typically include life insurance, total and permanent disability (TPD) insurance, income protection insurance, and trauma insurance.
01
Life Cover
Life insurance pays out a lump sum benefit to beneficiaries upon the insured person’s death. This provides financial support to dependents, covering expenses such as mortgages, debts, funeral costs, and ongoing living expenses.
02
Total & Permanent Disability Cover
Total and Permanent Disability (TPD) Insurance provides a lump sum payment if the insured person becomes permanently disabled and is unable to work. This benefit helps cover medical expenses, rehabilitation costs, modifications to the home, and ongoing living expenses.
03
Income Protection Cover
Income protection insurance replaces a portion of the insured person’s income if they are unable to work due to illness or injury. It provides a regular income stream to cover living expenses until the insured person can return to work or reaches retirement age.
04
Trauma Cover
Trauma insurance (also known as Critical Illness) pays out a lump sum benefit upon diagnosis of specified critical illnesses or injuries, such as cancer, heart attack, or stroke. This benefit helps cover medical expenses, treatment costs, and allows the insured person to focus on recovery without financial stress.
Why is it important to speak to a Financial Adviser?
It’s important to speak to a financial adviser when considering personal risk insurance as they can provide tailored advice based on your individual circumstances, needs, and budget. A financial adviser can help assess insurance needs, recommend appropriate coverage levels, compare policies from different providers, and ensure that insurance premiums are affordable and sustainable over time.