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Why’s Insurance Match

Mar 10, 2016 (0) comment

Financial Risk (The ‘ifs’) & Insurance Match

Diagnosed with cancer and eventually return to work

Trauma Insurance: Trauma insurance pays a lump sum benefit if you’re diagnosed with a critical illness such as cancer.

Income Cover: If you are out of work, income protection can provide you and your family with an income stream to help relieve that financial pressure of not being able to work and earn an income

You prematurely die and as a result your family has lost its only source of income (you).

Term Life Insurance: Term Life Insurance will provide your family with a lump sum benefit that if invested can produce an income stream. Depending on the amount of Term Life Insurance cover it should also provide your family with enough to pay out existing debt(s), fund your children’s education and maintain your family’s quality of life.

Your family is left with debt after your premature death.

Term Life Insurance: Will provide a lump sum benefit which will be able to payout all outstanding debts e.g. home loan, credit cards, personal loans.

You do your back in at work and you’re unlikely to return to work for the next couple of years.

Income Protection: Can provide you with a monthly benefit while you are out of work. The monthly benefit is equivalent to a maximum of 75% of your salary and will provide an income stream to support you and your family when you need it the most.

You have a heart attack and it looks like you will not go back to work ever.

Trauma Insurance: A lump sum benefit will be paid to help get you through this traumatic period. Trauma insurance will help cover your medical bills, rehabilitation expenses and recovery costs.

Total Permanent Disablement (TPD): If you end up becoming totally and permanently disabled due to your critical illness e.g. stroke – then it is worthwhile having TPD to provide an extra benefit to pay out existing debts, home modification costs and to provide a lump sum which if invested can provide an income stream.

You’re involved in a severe car accident and become totally paralysed.

Total Permanent Disablement (TPD): TPD cover will help activate the financial pressure associated with a disability. TPD can help cover the cost of rehabilitation, modifications that need to be made to the home and pay for a carer.

You find out you have a brain tumour and you have only 3 months to live at most.

Term Life Insurance: Most Term Life cover pay a lump sum benefit if you are diagnosed with a terminal illness. The benefit will help cover the costs of medical treatment, specialist medical attention if required and provide a lump sum to your family that if invested can provide an income stream.

You suffer a severe head injury and you are unlikely to ever return to work.

Income Protection: Will replace your income and help maintain your lifestyle e.g. paying bills, medical costs and mortgage repayments.

TPD: Will provide a lump sum benefit to help relieve the financial pressured associated with having a disability and not being able to work.



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