Information
Types of personal cover available
Income Protection Insurance
Income Protection insurance provides an income stream should you become unable to work due to an injury or sickness. Benefits are paid monthly, not as a lump sum. The amount of cover is restricted normally to 75% of your Taxable Income - (Gross Income less Business Expenses and before tax). Premiums are generally tax deductible. Specified Business Expenses are also able to be Insured.
Trauma Insurance
Trauma cover pays a lump sum on the diagnosis of specific medical events. The number of conditions covered (benefits) varies widely, cheaper policies often offering fewer benefits. The most common claims under these policies are for: cancer, heart attack, coronary bypass and stroke, although other conditions can be covered.
Life Insurance
Life insurance, also known as term life insurance, provides a cash lump sum in the event of death. Cover normally applies immediately to any cause of death with the exception of suicide occurring within the first 13 months. Most polices pay if diagnosed with a terminal illness where you have less than 12 months to live.
Total and Permanent Disability Insurance
Total and Permanent Disablement cover provides a lump sum in the event of the insured being rendered totally and permanently disabled.