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Personal Risk Insurance

Are you someone that believes that if you were to suffer a serious illness your private health insurance will cover costs, or the government will look after you?    Then you need to read on…….

Whilst Private health insurance provides valuable protection against the medical expenses associated with sickness and injury, you must realise it's for medical expenses only. It won't cover your bills, debts or replace your lost income if you have to take an extended period off work due to illness or injury.  You may also be left with out of pocket expenses covering the cost of your treatment.  It is therefore important to have a complete protection plan which encompasses both private health insurance and life insurance.

The Government, through Centrelink, provides financial assistance for people who suffer a serious disability, but there are rules around who is eligible for it.   With a maximum of less than $20,0001 per annum, could you still cover the payment of your bills, rent, mortgage, medical expenses and your lifestyle?

Remember that if affordability is an issue you should speak to us about whether you should hold your insurance within your superannuation and pay the premiums from your super balance or employer contributions.  This helps preserve your disposable income, but due to the extra complexity involved, professional advice should always be sought before proceeding.

You may also be at that stage of life where you are debt free, living comfortably and looking forward to enjoying retirement.  Have you thought about what would happen to all that should one of your children suffer an accident or serious illness? 

Have you considered meeting the costs of insurance for your children while they are busy funding a house mortgage and the costs of raising children?  Who would they turn to at a time of financial crisis and what effect would this have on your retirement plans?  For the small cost of insurances you can be confident that your retirement plans will stay on track and that your children, and grandchildren, will be well cared for.

The links below provide information on the various types of insurances available that can assist when you need it most.

·Term Life & TPD
·Trauma & Critical Illness
·Income Protection Insurance
·Business Expenses Insurance