Personal Insurance

What is personal insurance and why do I need it?

When it comes to insurance we know we need to insure our car, our home and valuable assets such as the TV, but only 22% of Australians have insured themselves. Yet your income is your most valuable asset as it continues to grow your wealth each and every day.

Personal Insurance is the insurance cover that will financially secure your income, your family and yourself should something happen.

Financial planning to insure yourself and your family against unexpected future events.

Plan B: Financial planning for when things go wrong

Financial planning is a holistic approach to managing your finances. We consider your lifestyle, your income, your assets and your circumstances to ensure you can achieve your goals without sacrifice. Personal insurance is preparing you for the unexpected and financial planning takes into account everything including insurance cover. By having a financial planner in your corner, we can create financial strategies which assist you in choosing the right insurance so you won’t have to empty your emergency funds.

Types of Insurance

There are many different types of personal insurance covers and your super won’t cover all of the possible circumstances.

Life Insurance

Life insurance will cover your death and pay a lump sum to your beneficiaries if you were to pass unexpectedly. It can help ensure your family has somewhere to live, education is covered, funeral costs are covered and that there is a temporary income for your spouse.

Total and Permanent Disability Insurance

TTPD Insurance is a type of cover that is a helping hand in the event of injury or illness where you are unable to return to normal work. This lump sum can remove financial and emotional stress as it can offset expenses such as full-time care.

Income Protection

Your income is your biggest asset, so if you have to stop work suddenly, how are you going to insure you continue to maintain your living expenses? Chances are that without income protection you won’t. Income protection can help you retain 75% of your income when something happens unexpectedly.

Trauma Insurance

This insurance can seem unnecessary but trauma insurance provides you with a lump sum when you most need it. Often this is for when you are diagnosed with a critical illness such as stroke, heart attack or cancer.

Benefits of undertaking Personal Insurance with a Financial Planner

Personal Insurance is all about protecting your family and yourself from being hundreds of thousands of dollars in debt. Applying for personal insurance through your financial planner is the best option because:

- - It is not just your basic cover
  - It is flexible
  - It is tailored to cover your circumstances and nobody else’s

A financial planner takes the time to understand your situation and we want to help you maintain financial security. One of the ways we can do that is by making sure you have the right insurance so you do not go into debt if the worst should happen.