Wealth Protection

What is insurance?

Insurance is a form of protection – a way to protect yourself, your family and the things you own if something goes wrong.

Everybody’s circumstances are different, but insurance is important for everybody. Your need for insurance will change as you move through the different stages of your life. There are many different types of insurance, and we can help you find the right level of protection for your needs.

What types of insurance are there?

There are many types of insurance.

Car or home/contents insurance allows you to insure your belongings. Personal insurance policies enable you to insure yourself and your ongoing wellbeing. Personal insurance provides protection against sickness, injury and death, and includes:

• Life insurance
• Total and Permanent Disability (TPD) insurance
• Trauma insurance, and
• Income protection.

While insurance doesn’t remove the risk of something going wrong, it provides you and your family with protection and financial security if something does happen. The amount of insurance you need is affected by:

• how much you earn
• your cost of living
• your assets
• your liabilities
• your relationship status (whether you are married, in a de facto relationship or single), and
• how many dependants you have.

Life insurance

Life insurance protects your family by paying a lump sum if you die. Most people think that life insurance is only for the main income earner, but the person who takes care of the family is also a large contributor to the home and can be insured.