While nothing can compensate for the emotional loss that injury or death can cause a family, it is possible to protect your family’s finances by putting in place appropriate personal risk insurance cover.
Some critical types of personal insurance include:
Term life insurance provides a lump sum payment for your family to ensure the plans you had for them can still be achieved in the event of your death. It also enables the financial obligations of your personal and business liabilities to be met.
Total and Permanent Disability
Total and permanent disability insurance provides a lump sum payment if you suffer an illness or injury and are permanently unable to work. This will help you maintain your current lifestyle whilst paying the additional expenses such as the care that arises as a result of an ongoing illness or injury.
Trauma insurance provides a lump sum payment if you suffer one of a list of major medical traumas, and will help you obtain the best medical and rehabilitation care.
Income protection insurance provides a regular earnings replacement if you suffer a sickness or injury and are temporarily unable to work. This will help you maintain your family’s lifestyle until you are able to return to work.