How financial advice helps you get the cover you actually need
When it comes to life insurance, you don’t know what you don’t know.
In moments of crisis, the right cover can be life changing. But how do you know if you’re adequately protected?
At Sherlock Wealth, we’ve been helping clients answer that question since 1970.
Our experience in life insurance advice runs deep—structuring policies, navigating complex claims, and ensuring families receive what they’re entitled to when they need it most.
As one of our clients shared after receiving a trauma claim payment:
“We wanted to express our enormous thanks to you and your team. First of all, for your sage advice in terms of the policies we have taken out, and then of course for the way you’ve managed the claim process for us to shield us from having to deal with it directly. It’s quite a sum and as a result, we can pay off our mortgage, and completely shoulder the burden of the tests, consultations, and other expenses we face going forward.”
– Sherlock Wealth Client
Understanding the Types of Life Insurance
There’s no one-size-fits-all when it comes to insurance. That’s why working with our team can make all the difference. We’ll help you determine the right mix of cover for your circumstances and goals.
Here are the four core types of cover used in Australia:
- Life Cover: A lump sum paid to your nominated beneficiary if you pass away.
- Total and Permanent Disability (TPD) Cover: Pays a benefit if you become permanently disabled and can no longer work.
- Trauma Cover: Pays a lump sum if you’re diagnosed with a specified serious illness like cancer, stroke, or heart disease.
- Income Protection: Replaces a portion of your income if you’re unable to work due to illness or injury for a period of time.
Choosing the right mix depends on your income, health, family responsibilities and financial goals—all areas where financial advice can help you weigh up the risks.
Knowing What You’re Covered For
Life insurance can protect your income, your family and your financial future—but only if it works the way you think it will. The details matter more than most people realise. It’s important to understand:
- Is your policy actually owned by you, or by your super fund?
- Will it cover your specific job if you can’t work?
- Are serious illnesses like cancer, heart attack or stroke included?
- Will your claim payment go to the right person?
Nearly half of Australians don’t hold life insurance cover and have no plans to. Many rely on default cover through super, but this often falls short—especially for families or mortgage holders.
That’s why professional financial advice is so important. It helps you understand what you have, what’s missing, and how to fix it in plain language.
Working with Sherlock Wealth
At Sherlock Wealth, we’ve spent more than 50 years advising Australians on the right protection for their circumstances—and advocating for them through every stage of the process.
“We believe life insurance is about more than protecting income. It’s about protecting everything you’ve worked hard to build and the people you love most.”
– Andrew Sherlock, CEO, Sherlock Wealth.
Whether you’re securing your family’s financial future, protecting your business interests, or planning for retirement, we’ll help you structure cover that gives you and those you care about peace of mind.
Need help reviewing your life insurance?
Speak with our experienced Sherlock Wealth team to make sure your policy is working for you.
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