It’s amazing how 87% of people have insured their possessions* yet only a small percentage have safeguarded themselves or their families with life insurance. Maybe people think life insurance is only about covering yourself against death. In fact, there’s more to it than that and it’s cheaper than you think.
Life insurance is about helping to protect your family against financial hardship should the worst happen to you, the major breadwinner. And, the worst could be the result of a serious illness or accident, not just death. With this in mind, can you afford not to have some sort of protection? There are four (4) ways to protect our loved ones.
(*Insurance Council of Australia, Consumer and Business Insurance Tracking Study, December 2004)
Income Protection : Helps you meet your financial commitments by providing you with a monthly income payment if you are sick or injured and can’t work. You can insure up to 75% of your regular income and super contributions up to 15%. Plus, Income Protection premiums are generally tax deductible.
Life Cover : A cost-effective way to protect your family and assets in the event of your death. This cover also offers a range of benefits and a cash lump sum to help your loved ones through their difficult time, and will help provide them with financial independence.
Total & Permanent Disability (TPD) Cover : Pays you a lump sum if you suffer from total & permanent disability, such as multiple sclerosis or loss of a limb. One has the option of obtaining cover separately to supplement cover by inside superannuation which in most cases is not enough.
Trauma Cover : Provides you with a lump sum if you are diagnosed with certain medical conditions, regardless of whether you are able to work or not (conditions such as heart attacks and cancer). Trauma cover not only helps take care of your medical and rehabilitation costs but it can also help you fund lifestyle changes.
In the next few weeks, we shall be discussing more of these insurance solutions in detail.
Best regards
Jack Wei
Financial Genius
www.financialgenius.net.au
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment