What types of life cover are available?
There are a number of different types of personal insurances that we may recommend to you, depending on your personal situation:
Life Insurance provides a lump sum payment for your family to ensure the plans you had for them can be achieved in the event of your death. It also enables the financial obligations of your business to be met.
Total & Permanent Disablement Insurance (TPD)
Total & Permanent Disablement Insurance provides a lump sum payment if you suffer an illness or injury and are permanently unable to work. This will help you maintain your current lifestyle while paying the additional expenses that arise as a result of an ongoing illness or injury.
Income Protection Insurance
Income Protection Insurance provides a regular earnings replacement if you suffer an illness or injury and are temporarily unable to work. This will help you maintain your and your family’s lifestyle until you are able to return to work.
Without income protection insurance, John Kilpatrick would have struggled with financial insecurity at one of the most difficult times in his life. Read about his story here.
Trauma insurance provides a lump sum payment if you suffer one of a list of major medical traumas (cancer, stroke, heart attack, etc) and will help you obtain the best medical and rehabilitation care and also give you the financial resources to make changes in your life as a result of the trauma.
Business Expense Insurance
Business expenses insurance reimburses the owner of a small, self-employed business for ongoing, fixed business expenses that continue to accrue while the owner is unable to work because of an illness or injury.
Buy/Sell Insurance provides a funding mechanism for the continuing owners of a business to purchase the share of an exiting business owner due to death or disability. This type of insurance is used in conjunction with a buy sell agreement.
Key Person Insurance
Key Person Insurance provides a lump sum payment to a business in the event of the death or disablement of an employee whose knowledge, work or overall contribution is considered uniquely valuable to the company.