What is Life Insurance?

Life insurance will provide financial security for your loved ones in the form of a lump sum payment in the event of your death or you being diagnosed with a terminal illness. Most superannuation funds provide you with the option of taking out life insurance within the fund or perhaps you may wish to take out a separate policy; one of our financial advisors can determine which policy option best suits your needs. Also ask about the inclusion of an extra "funeral advancement benefit" into your policy. This will pay your dependants an advanced sum of money out of your lump sum payment to cover your funeral expenses and grief counselling.

How much do I need to insure myself for?

The amount which you insure yourself for will depend on your personal situation. A general rule is to allow seven times your annual salary plus any outstanding debts. Some things to consider are;

• How much do I owe on my mortgage?
• How many dependants do I have.....wife, partner, children?
• Can my finances cover their everyday living expenses and for how long?
• Do I have any other outstanding personal loans?
• How much do I owe on my credit card?
• Can we adequately cover all medical expenses?
• Do I have adequate cash in savings accounts?
• What assets of mine can be readily converted into cash such as investments, shares or superannuation?
• Can I cover my funeral expenses?

How much does Life Insurance cost?

Surprisingly life insurance is very affordable; costing a little more than a cup of coffee per day. For the cost of a couple of dollars per day you can provide your loved ones with some financial certainty and security.

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CAN YOU AFFORD NOT TO BE COVERED?
Please contact us for expert advice on how we can provide your loved ones with financial security.
CLICK HERE OR CONTACT US ON 02 4325 5722

Total and Permanent Disability (TPD) Insurance

Total and permanent disability insurance will provide you with a lump sum payment if you suffer from a serious illness or injury that leaves you totally and permanently disabled. This payment is generally used to reduce or eliminate any personal debts, fund specialised medical treatments and equip you to make the necessary lifestyle adjustments.

You will need to check that you can claim under one of the following four definitions;

• Unlikely to ever work in your "own" or "any" occupation again.
• Permanently unable to perform two of the following "activities of daily living" without someone else’s physical help: bathing and showering, dressing and undressing, eating and drinking, getting in and out of bed / chair / wheelchair and maintaining continence.
• Loss of sight or use of limbs.
• Suffer significant cognitive impairment (dementia type illnesses)

It is important that you fully understand the term "own" or "any" occupation. Put simply if you choose the "own" option of cover you are insuring yourself for not being able to continue your current form of employment.

The amount that you insure yourself for in case of being unable to work varies considerably with the individual. You will need to consider your outstanding mortgage repayments, other loan repayments, medical expenses and how much it will cost to maintain your existing lifestyle for yourself and your family.

The cost of TPD insurance is very affordable but will vary with many factors such as your age and occupation.

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CAN YOU AFFORD NOT TO BE COVERED?
Please contact us for accurate advice on how we can insure you against never being able to work again.
CLICK HERE OR CONTACT US ON 02 4325 5722

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STEPHEN HOLT IS AN AUTHORISED REPRESENTATIVE OF PROFESSIONAL INVESTMENT SERVICES PTY LTD (ABN 11 074 608 558). AUSTRALIAN FINANCIAL SERVICES LICENSEE - LICENCE NUMBER 234951 Level 14, Corporate Centre, Cnr Bundall Rd & Slatyer Ave Bundall Q 4217
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Trauma Insurance

Trauma insurance will provide you with a lump sum payment when you suffer from a serious medical condition such as a heart attack, heart bypass, stroke or cancer. Each insurance company has its own criteria when determining the severity of a medical condition. We can provide you with a comprehensive list of the many illnesses and injuries which you can insure yourself against.

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CAN YOU AFFORD NOT TO BE COVERED?
Please contact us for expert advice to find out how we can get you through difficult financial times.
CLICK HERE OR CONTACT US ON 02 4325 5722

Income Protection

Income protection will pay you a monthly sum of up to seventy five percent of your annual salary if you are unable to work when you are totally or partially disabled as a result of injury or illness.

In most cases you will be able to choose a waiting period of between fourteen days and two years before receiving your first monthly payment.

Depending on your occupation benefit periods can go from 2 years to age 65 and agreed value or indemnity contracts where your monthly payment is assessed based on the income earned from your current occupation over the last twelve months prior to lodging your claim.

We can also explain some of the extra benefits available to you at little or no extra cost.

The amount that you insure yourself for in case of being unable to work varies considerably with the individual. You will need to consider your mortgage repayments, other loan repayments, medical expenses and how much it will cost to maintain your existing lifestyle for yourself and your family.

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CAN YOU AFFORD NOT TO BE COVERED?
Please contact us for expert advice on how we can protect you from loss of income.
CLICK HERE OR CONTACT US ON 02 4325 5722

Business Expenses Insurance

Business expense insurance will protect your business by paying you a monthly sum to cover your fixed day to day business expenses if you suffer from a serious illness or injury which prevents you from working. These may include rent, loan repayments, staff wages and many other outgoings.

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CAN YOU AFFORD NOT TO BE COVERED?
Please contact us for expert advice on how we can protect your business.
CLICK HERE OR CONTACT US ON 02 4353 3443