Not sure how to choose an insurance plan or what life insurance you need? You can rely on our team of Adelaide insurance brokers to help you choose the best protection plan for you and your family
Choosing a personal insurance plan for you and your family is one of those jobs that’s easy to put in the too-hard basket, but when life doesn’t quite go to plan, having the right insurance in place can be the difference between struggling and surviving.
Why is personal insurance so important?
We don’t tend to plan for getting sick or losing our jobs, but if something were to happen tomorrow that meant you could no longer earn an income, how would you cope?
This is where personal insurance comes in. This safety net means that if something was to ever go wrong, you won’t need to raid your savings or investments to pay for medical bills or to continue to take financial care of your family.
What insurance do I need?
These are the main types of personal insurance:
Life insurance: If you die, life insurance provides your family with a lump sum benefit. This is commonly used to pay for large expenses, like mortgages or other loans, or invested in the future of your family, like education or setting up trusts. It can also be used to provide ongoing income.
TPD insurance: If you become disabled, TPD (Total and Permanent Disability insurance) pays you a pre-agreed amount of money in a lump sum payment. This money is typically used to cover medical fees or other costs associated with changing your home or vehicle as a result of the injury or other medical conditions.
Trauma insurance: If you’re diagnosed with a critical illness or injury, trauma insurance gives you a lump sum payment to assist with debts and medical costs while you can’t work.
Income protection insurance: If you’re unable to work for a period of time due to illness or accident, income protection cover is a regular payment you can access to help cover medical costs, debts and everyday living costs. The maximum percentage of salary that insurers will cover is 75%.
The information contained on this website has been provided as general advice only. The contents have been prepared without taking into account your personal objectives, financial situation or needs. You should, before you make any decision regarding any information, strategies or products mentioned on this website, consult your own financial advisor to consider whether that is appropriate having regard to your own objectives, financial situation and needs.
Dulwich Group Financial Services Pty Ltd T/A Johnston Grocke ABN 80 165 839 163, Corporate Authorised Representative (ASIC 1240611) and its advisers are Authorised Representatives of Paragem Pty Ltd ABN 16 108 571 875 Australian Financial Services Licence 297276
Website: www.paragem.com.au | Tel: (02) 8036 6490