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Personal Insurance – Types of insurance and what’s covered

November 2018

What is TPD insurance?

TPD insurance provides a tax-free lump sum payment if you become disabled and you're forced to permanently stop working.

This lump sum benefit provides funding to cover the day­ to-day, and also provides options for you and your family to enjoy the future in the way you'd like to.

TPD insurance could help you cover:

  • Mortgage repayments
  • Ongoing care
  • The cost of ongoing treatment
  • Home modifications

What is income protection?

Income protection pays up to 75% of your income if you can't work due to illness or injury . This money can help you and your family manage your living expenses while you recover.

A monthly benefit could help you stay on top  of  debts, pay for medical bills and generally give you the means to

maintain a reasonable standard of living if you're not able to earn an income.

Income protection could help you cover:

  • Day-to-day expenses
  • School fees
  • Additional care
  • Rehabilitation

What is critical illness insurance?

If you become seriously ill, critical illness insurance frees you up from financial worry by paying a lump sum if you develop any of a range of specified illnesses.

Often a serious health incident can bring with it extra costs - on top of the day to day - and critical illness insurance can help cover these costs.

Critical illness insurance could help you cover:

  • Debt repayment
  • Medical expenses and treatment costs
  • Lifestyle modifications
  • Cash reserve

Contact the team for further information about the different types of personal insurance, and help you tailor the right cover to your needs.

Topics: Inflation, Life cover, TPD insurance, Underinsurance, Cutcher & Neale Risk Insurance, Income protection, Tailored insurance, Premiums, Policy

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