Insurance
  • Protecting your assets ...
Extra services
Send page to a friend printer friendly page icon

Insurance

 

One of the primary purposes of insurance is to protect your wealth and capacity to generate wealth. There are a variety of insurances available to give you and your family peace of mind. These include loan repayment insurance, income protection insurance, life insurance, accident, or illness insurance and other general insurances. Dependent on your personal situation, our financial planning service can determine the best structure on how to pay for the various insuances you require. In certain circumstances, it may better to pay your premiums from your superannuation rather than being paid directly by you.
.

Mortgage Repayment And Income Protection Insurances

 

Mortgage Repayment or Income Protection insurance is relevant to you if you are organising a home loan to purchase property. For many people, property purchase is the largest financial investments they will make in their lifetimes. It is important to safeguard your ability to make loan repayments in case of an unforeseen event that may threaten your income. 2 main types of insurance that can do this include ...

  • Mortgage repayment insurance – insurance that specifically covers a certain amount of loan repayment. For example – if your loan repayments are $3000 per month, mortgage repayment insurance is available that would cover all or a certain portion of this in the event of death, accident, or illness.

  • Income protection insurance – this type of insurance is broader than mortgage repayment insurance above. In the event you have an accident or illness that prevents you from earning an income, income protection insurance can pay a certain agreed proportion of your income for a specified length of time. Due to the broad nature of this type of insurance it is generally more expensive than mortgage repayment insurance however you may deem it more suitable in your particular circumstances.

 

Other Insurances

Other personal insurances available to you to protect your home, business and family include

  • Life insurance – insurance which can give you and your family confidence of financial security in the event of the death of one or more of the income earning members of the family. This type of insurance usually pays out a certain preagreed amount in the form of a lump sum on death of certain family members.

  • Total and permanent disability insurance – insurance which pays out an agreed amount in the form of a lump sum on the event of the insured becoming totally or permanently disabled.

  • Trauma Insurance

  • Business Insurance