Simple trusted information on personal insurance options.
Personal Insurances explained
Personal insurance helps protect you from financial stress due to unexpected illness, injury, disability, or death.
With the right insurance coverage, you can confidently focus on recovery and family without the added worry of financial hardship.
Here’s an easy-to-understand guide on key types of personal insurance:
Total and Permanent Disability (TPD) insurance
TPD insurance pays a lump-sum benefit if you become permanently disabled and cannot return to work due to illness or injury. This financial support helps you cover medical bills, rehabilitation, lifestyle adjustments, and income replacement.
Income Protection Insurance
Income protection insurance replaces part of your regular income if illness or injury prevents you from working temporarily. It provides monthly payments to meet living expenses, loans, and other financial commitments until you're back on your feet.
Trauma Insurance
(Critical Illness)
Trauma insurance delivers a lump-sum payment upon diagnosis of serious illnesses such as cancer, heart attack, or stroke. It helps reduce financial stress, covering treatment costs and daily living expenses, so you can prioritize your health and recovery.
Life Insurance
Life insurance provides a tax-free lump-sum payment to your beneficiaries when you pass away. It covers financial obligations like mortgages, education fees, daily expenses, and funeral costs, ensuring your family’s financial stability during challenging times.
How personal insurances provide security and peace of mind
Imagine the Thompson family: John (42), Sarah (40), and their two children, Emily (10) and Tom (7). Both John and Sarah work full-time, maintaining a comfortable life with a mortgage, car loans, school fees, and everyday living costs.
- Trauma Insurance: John experiences a heart attack. Trauma insurance provides immediate financial relief, covering medical expenses, specialist consultations and allows him to take essential recovery time off work without financial pressure.
- Life Insurance: 3 years later, tragically, John passes away in an accident. Life insurance provides Sarah with a substantial lump-sum payment. This payout enables her to clear the outstanding mortgage, maintain the children’s education, and manage daily living expenses without financial hardship.
- TPD Insurance: A year later, Sarah suffers a serious car accident, leaving her permanently unable to work. TPD insurance pays another lump sum, enabling her to modify their home for accessibility, manage medical expenses, and replace the income she lost, maintaining the family’s financial stability.
- Income Protection Insurance: After Sarah’s accident, her sister, Emma, temporarily moves in to support the family. Emma falls seriously ill and cannot work for six months. Fortunately, Emma has income protection insurance, which provides monthly payments to cover her living expenses, ensuring she can contribute without adding financial strain to the family
With over 30 years experience we can offer you trusted information on your personal insurances and options.