Financial Protection

Ways to protect you and your loved ones from the unexpected

3 min read

Life is unpredictable and you never know what's around the corner.

As we get older, things outside our control can happen. We suddenly realise how important our health is, want to safeguard the assets we've accumulated, and we want to ensure that our loved are covered if something were to happen.

Being financially protected will help us with the unexpected, and I'll be going through some of the different types in today's blog.

Life Insurance

Life Cover

A single payment (lump sum) that is paid out in the event when the person insured passes away. The money goes towards beneficiaries, which are individual(s) that are nominated upon signing up to the product.

This product is also referred to as term life cover and death cover.

TPD Cover

Total and Permanent Disability (TPD) cover is a single payment (lump sum) that is paid out in the event when the person insured is unable to return to their workforce due to sickness or injury.

The money paid out from this cover is intended to support living with the sickness or injury, as well as the costs associated with treating and managing it.

person walking holding brown leather bag

Income Protection

An ongoing payment over a period of time (benefit period) to cover a portion of a person's income when they are unable to work due to sickness or injury.

The money paid out from this cover is intended to provide ongoing income when away from work so people can focus on recovery and getting better.

Notes

Read the Product Disclosure Statement (PDS) to understand what's covered versus not covered in the insurance policy
When applying for an insurance policy, you may need to go through underwriting, which involves providing personal health and lifestyle information
If in doubt, consult a licensed financial adviser / professional who can help you choose the right product for you and your circumstances

Health Insurance

Ambulance Cover

Used to cover the cost of transporting a person to the hospital via an ambulance

white and blue ambulance van traveling on road

Hospital Cover

Used to cover the costs of staying and being treated at the hospital

Extras Cover

Used to cover out of hospital services, most typically optical, physio and dental

Car Insurance

Comprehensive Cover

Insures the car for multiple events irrespective of who was responsible for the damage. Due to the high coverage, this product is more pricier.

man in white and black stripe shirt and black pants standing beside black car during daytime

CTP Cover

Compulsory Third Party (CTP), also referred to as Green Slip Insurance Cover, covers damages done to other vehicle(s) but not the car itself.

Other Insurance

Travel Insurance

Cover unexpected incidents during the period of the trip such as sickness and injury, lost belongings, as well as cancellations and delays.

Pet Insurance

Cover costs of treating a pet if they get sick or injured. There are different types such as accident only, accident and illness, as well as comprehensive cover.

Home & Contents

Receive a sum of money if the building or items within the property is damaged or destroyed within an insured event.

Renters Insurance

Receive a sum of money if the items within the property being rented is damaged or destroyed within an insured event.

Do you need insurance?

Everyone is at different life stages and circumstances, so each person will want or need different types and levels of financial protection.

If you want some advice on what protection you need, you should reach out to a licensed financial professional who can provide tailored advice for you.

Helpful Resources

LIFE INSURANCE

PET INSURANCE

CAR INSURANCE