STEP 4
Life & Income Protection Insurance
moneyGPS has identified that you may have a gap in personal protection ultimately leaving you and your family underinsured.
Not having the right insurance plan in place can leave you financially vulnerable. Unfortunately, many people don’t realise the importance of a personal risk management strategy before it’s too late.
Why Personal Risk Insurance is Important
Are you and your family adequately protected?
Many professionals will acquire significant financial assets over their working life. A family home, superannuation savings, a share portfolio, a prestige car, perhaps an investment property or two.
And yet the biggest financial asset you’ll ever own is the one you see in the mirror every morning: you, and your ability to earn an income.
For many professionals, the future value of their lifetime earning potential could be several million dollars or more. Everything you plan to build – your assets, your debts, your lifestyle, your family’s security – hangs on the expectation of a substantial regular income.
But what would happen if that income abruptly disappeared for many months – or even permanently? What if you could never work in your profession again – or even work at all?
The different types of insurance
If you suffer a serious illness or injury
Income Protection: Pays an ongoing monthly amount to help replace the majority of your income, so you can focus on recovering without stressing about meeting your regular living expenses, loan repayments and other costs.
Trauma Cover: Pays a one-off lump sum if you suffer a serious medical condition such as cancer, heart attack, stroke or other life-threatening condition. It’s paid as soon as the condition is diagnosed, and your claim is processed. You can spend the money on whatever you like – to help with medical expenses, pay down debt, supplement income or take the holiday of a lifetime once you’ve recovered.
If you die or suffer an illness or injury that leaves you totally and permanently disabled
Total and Permanent Disability (TPD): Provides a lump sum payment if you become totally and permanently disabled and can’t return to work. These benefits are often used to eliminate or reduce debt, and fund long-term medical expenses and the costs of ongoing care. The majority of TPD payouts are for mental health conditions, musculoskeletal issues, cancer, heart-attacks, strokes and accidents.
Life Cover: Pays a lump sum to your estate or policy owner if you die or become terminally ill. It can therefore help ensure that your partner or other dependents can clear or significantly reduce all debts – such as a home loan – giving you the opportunity to help create financial security for your loved ones.
For a no obligation, complimentary review of your personal insurance needs with a risk specialist, please click the “Advice” button below.
How You Will Benefit from Expert Advice with an experienced risk specialist
For most busy professionals, researching and organising life insurance cover can seem like a time-consuming headache.
With a vast range of risk insurance options available from various insurance companies, it’s a good idea to review your risk insurance requirements with a qualified risk adviser. A risk adviser can cut through the jargon to help you understand the policy’s features and benefits, and how they will help when needed. They will also be able to recommend the best fit for your circumstances and budget.
Risk insurance policies should be reviewed annually, or at least every two years. This is especially important if there have been any significant changes, such as change of income, occupation, family circumstances or health.
For a no obligation, complimentary review of your personal insurance needs with a risk specialist, please click the “Advice” button below.
Tough Talk
Think you don’t need insurance?
If you were to die, suffer a permanent disability, have a heart attack or be diagnosed with cancer, would your family cope financially?
Furthermore, if this major injury or serious illness meant you had to take considerable time off work to recover, what would losing your income mean for you financially?
- Could you afford the out of pocket medical expenses?
- Could you keep paying your home loan or other debts?
- How long would your savings last?
- Would you be forced to go to your family, friends or even the bank for help?
The mental toll of suffering a medically life changing event is hard enough to deal with. Ensuring financial stress is minimised means all you should be worrying about is getting better.
After all, your most important asset is your ability to earn an income.
Why Findex is the preferred offering for moneyGPS
- Professional – All advisers and specialists provide a wealth of knowledge and have industry education qualifications
- Experienced – Findex has serviced over 250,000 clients over the past 30 years
- Flexibility and technology use – Using technology to communicate with you in your preferred manner
- Footprint – 100+ offices located across Australia and New Zealand
- Safe – Fully compliant providing you with a sense of confidence
GET STARTED
Personal Risk Insurance
The importance of a personal risk management strategy is not usually known until it’s too late
A financial plan is not limited to wealth creation and investments. Having an adequate protection plan in place provides peace of mind and financial security.
Our team of specialist risk advisers provide service-driven insurance advice on how to reduce the financial risks presented to you and your family each day.
We work with you to develop a personalised and comprehensive insurance strategy that will serve to protect the wealth and livelihoods of those who depend on you most.
Are you ready to take the first step in protecting yourself and your family?
For a no obligation, complimentary review of your personal insurance needs with a risk specialist, please click the “Advice” button below.
5 Top reasons this will help you and your family!
- Expert risk insurance advice can help ensure adequate protection is in place should an unfortunate or unforeseen event occur
- Minimise financial stress when focusing on health and getting better is more important
- Have peace of mind that you and your loved ones are financially protected
- Ensure you and your family are financially protected in the event you suffer a health event or premature death
- Monitor and review your protection plan with a risk insurance specialist
Start the process!
For a no obligation, complimentary review of your personal insurance needs with a risk specialist, please click the button below.