Tips

Risk Insurance

There are so many things in life to think about these days! Insurance however is not always top of mind.

Insurance is not something that is always top of mind, although most people find the time to insure their cars, homes & phones. But what about you & your income – aren’t they your biggest assets? Aren’t they worth protecting?
As your financial circumstances change significantly when you apply for any loan, it is vital that you consider and review your current need for adequate insurance protection.
Whether you are buying your first home, an investment property, increasing an existing loan, or taking the time to re-finance or increasing an existing loan, now is an ideal time for you to think about how you protect yourself and your income.
You should be able to answer these questions, and if not, seek some professional advice.
Do you know how you would pay your bills if your (or your partner’s ) income stopped.
What does the insurance in your superannuation really cover, and would it be enough to pay off your home loan?
Would your family be able to afford to stay in your home if the primary carer wasn’t able to look after the kids any more?
We’re not experts in this field, but we can recommend our trusted colleagues. They will provide you with an expert review of your personal debt protection situation.
Types of Risk Insurance
Life Insurance
A lump sum amount upon death or terminal illness to your nominated beneficiary.
Critical Illness/Trauma Insurance
A lump sum payment if you suffer one of a list of major medical traumas such as cancer, heart attack or stroke
Total and Permanent Disability Insurance
A lump sum payment if you suffer an illness or injury and are permanently unable to work
Income Protection Insurance
A regular earning replacement if you suffer an illness or injury and are temporarily unable to work

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