Wealth Protection

Ensuring you have peace of mind with personal insurance

Personal insurance can provide security against the unexpected events in life to protect and provide for your family. 

Recent changes might have impacted your cover. Life insurance policies within super accounts that have not received contributions for at least 16 months are being closed down from July 1st 2019. It’s important to check your cover in view of this and ensure that you maintain the appropriate level for your needs. 

Personal insurance includes different types of cover. Life insurance can leave your beneficiaries with a lump sum or income stream to help look after their financial wellbeing in your absence. Total and permanent disability (TPD) insurance can pay a benefit should you become unable to work due to illness or injury. Critical illness insurance can provide you with a lump sum if you suffer from a serious injury or illness. Income protection insurance can replace a portion of your income if you’re unable to work in the event of temporary disablement. 

As your life changes, so will your insurance needs. Talk to us to ensure you’ve got the right level of cover for your circumstances. We’re here to help if you need a hand.

Personal insurance – are you covered? 

Under insurance is a significant concern for Australian households and can lead to financial hardship for individuals and their families. 

The median life insurance cover is generally only twice the median household income. However, those with young families may need up to eight times their family income to continue their present lifestyle if one parent were to die. Similarly, total and permanent disability (TPD) cover is generally only three times the median household income when four times is ideal. 

Personal insurance is a must for most people, but it will be of limited use if you don’t have adequate cover. By regularly reviewing your cover, you can better prepare for the unexpected and protect yourself and your loved ones. We’re here to help if you need a hand.

Life changes, so should your insurance 

Insurance might not always be top of mind, but it’s important to review your policies regularly to ensure you’ve got the right cover for your circumstances. 

As your life changes, so will your insurance needs. You should consider reviewing your cover whenever your situation changes, such as taking on a mortgage, starting a family, getting married, getting a significant pay rise or a pay cut and retirement. 

We can work with you to ensure that your personal insurance provides you with the appropriate cover to support your loved ones and to ensure they live the life you had planned. We’re here to help if you need a hand.