These are the products used to tailor an insurance risk management plan for each individual's personal or practice needs.
Life Insurance is a protection policy that pays a cash lump sum to your family and dependants or business partners in the event of your death. Or, to you in the event of a terminal diagnosis. A Life Insurance policy can be used by your beneficiaries in any number of ways, but the funds are often used for:
A Monthly Life insurance policy which pays a monthly benefit in the event of death for a given period of time chosen by the client. It is used to provide greater cash flow certainty of household income during the period of financial dependency of spouse/partner and children.
Total and Permanent Disablement (TPD) Insurance pays a cash lump sum benefit which can be used to repay debt, replace lost income, maintain lifestyle or specialised care costs.
Income Protection Insurance is a policy which provides you with a monthly income if you are unable to work as a result of an illness or injury. The benefit starts after a waiting period which you choose and is payable for a period which you choose (usually through to your anticipated retirement age).
A Business Continuity Insurance policy will replace the lost cash flow of your business during a period of absence caused by injury or illness. It works alongside personal Income Protection cover for business owners.
Trauma Cover provides a cash lump sum payment if you are diagnosed with a medical condition specified in the policy. Policies can cover over 60 specified conditions, with the most claimed events being heart attacks, heart disease, cancer and stroke. A Trauma Cover claim payout can be used in any way that you like, but is often used for repayment of a mortgage or loan, contribution towards monthly bills and expenses, private medical treatment or home modifications.
Health insurance is a policy which meets all or some of the costs of a range of private medical procedures and treatments.
Home, Contents and Car Insurance is designed to protect your belongings against disasters - big and small. These include loss, theft, damage, fires and natural disasters.
Material Damage cover insures a business owner against loss or damage to physical assets including buildings, contents, plant and equipment, fitout and stock.
Business Interruption covers the loss of gross income due to the closure of the business due to a material damage claim event. These policies are designed to provide funds for your operating expenses; such as rent or lease payments, relocation costs, employee wages, taxes, loan payments.
Liability Insurance cover provides financial protection for costs and expenses you may incur if your business is responsible for someone else's injuries or property damage.