Personal insurance includes life insurance, disability insurance, critical illness insurance, income protection insurance and business expense insurance. These types of policies can be structured in a range of different ways to suit your personal and/or business requirements. In order to determine how much of cover you require we perform a detailed risk assessment of your personal and/or business circumstances.
Life insurance also known as term life or death cover provides the policy holder a lump sum payment upon the passing and in some cases terminal illness of the insured. This type of policy can be used to provide for loved ones and dependents in the event of premature death.
Disability insurance also known as total and permanent disability cover provides the policy holder a lump sum payment upon the total and permanent disability of the insured. The definition of total and permanent disability can have a number of interpretations depending on the insurer. This type of policy can be used to provide for insured and the insured dependents in the event of disablement.
Critical illness insurance also know as trauma cover provides the policy holder a lump sum payment if the insured suffers a critical illness such as cancer, stroke or heart attack. A critical illness is different to disablement because it is assumed the patient will recover. This type of policy is often used to pay for medical bills, living costs and support for dependents in the event of the insured suffering a critical illness.
Income protection insurance also known as salary continuance provides the policy holder with a pre determined monthly income benefit for a pre determined period if the insured is unable to work due to illness or injury. Income protection insurance is often tax deductible and used in conjunction with disability and or critical illness insurance. This type of policy is often used to insure a persons income and can assist with living expenses during times or illness, injury or disability.
Business expense insurance provides the policy holder or the business a monthly benefit to pay the business overheads if insured person is unable to work due to illness or injury. This cover is often used by business reliant on a small number of individuals to produce revenue.