Why is Life insurance cover for me?

Given that the average house mortgage costs Australians $408 per week in 2010 (ABS), and that the average Australian household spent $1,236 per week on goods and services in 2009–10, it’s important to keep yourself protected in case of an unforeseen event.

Being unable to manage expenses like loan repayments, household bills, rates and groceries could send you towards possible foreclosure before you realise, especially if you’re unable to work due to a severe injury or illness.

That’s why we are here to help.

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Selecting Life insurance cover

Our comprehensive range of cover includes Life insurance, Total and Permanent Disability and Trauma cover, Income Protection insurance (and also Business Expenses cover if you are self employed) With these covers in place you can enjoy financial security and focus on the more important things in life – like your family and enjoying your new home!

We can assist you to tailor a Life insurance package to suit your personal needs – here are some options to consider.

Life insurance cover at a glance

Cover type

Benefits

Helps cover

How to get covered

Life insurance

  • Provides up to $15million of cover.
  • Sum insured paid in advance upon terminal illness.
  • Advance $10,000 funeral benefit.
  • One standard “exclusion” only (ie. suicide in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.
  • Guaranteed renewability to age 99 (if premiums paid on time), even if health changes.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist your family through the claim process.

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  • Allows payment of personal or family debt, providing your loved ones with financial freedom.
  • Allows your loved ones to not worry about finding the funds to cover your funeral expenses.
  • Provides funds for any outstanding medical costs.
  • Provides funds for estate, administrative and legal fees.
  • Provides funds for financial assistance for your family following your death to allow them to grieve and not have to worry about the finances.

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Total and Permanent Disability (TPD) insurance

  • Provides a lump sum payment of up to $3 million for sickness or injuries which cause a total and permanent disability, preventing you from being able to work again.
  • One standard policy “exclusion” only (ie. intentional self injury in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.
  • Domestic Duties disablement definition is applicable to non income earners.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you or your family through the claim process.

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  • Allows you to clear all debts, and even provide with financial freedom.
  • Provides funds to cover ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses.

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Trauma insurance

  • Provides a lump sum payment up to $2 million when one of the listed medical conditions or trauma events occur.
  • Includes coverage of the top 4 medical conditions which account for over 95% of trauma claims paid as well as 33 additional medical conditions.
  • Conditions covered include Heart Attack, Stroke and Cancer.
  • Pays a lump sum on the confirmed diagnosis of one of the listed medical conditions covered by the policy, whether that illness or trauma event is able to be successfully treated or not.
  • Two standard “exclusions” only: (i) Exclusion of self injury in the first 13 months of the policy commencing, and (ii). An exclusion period applies for the first 90 days for 10 of the medical conditions.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Allows you to cover or partially cover debts such as your mortgage.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses.

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Income Protection insurance

  • Provides you with a regular monthly payment of up to 75% of your income up to a maximum of $25,000 per month, if you are sick or injured and can’t perform your work duties.
  • Payments commence at the end of the waiting period and continue for a set period of time (such as 2 years or until the age of 65), depending on the benefit period chosen when the policy commenced.
  • Also covers partial disablement.
  • Premiums are generally tax deductible.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Provides a regular monthly income in the event you are unable to work.
  • Allows you to cover or partially cover your financing commitments such as your mortgage or rental payments.
  • Provides income enabling you to pay ongoing household expenses.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.

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Business Expenses insurance

  • Provides a monthly income stream of up to 100% of your fixed monthly business expenses up to a maximum of $25,000 per month,   if you are sick or injured and can’t perform your duties at work.
  • Payments commence at the end of the waiting period and are paid for up to 12 months or the equivalent of 12 times the monthly benefit (if the full insured monthly benefit hasn’t been payable for some reason).
  • Premiums are generally tax deductible.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Covers payment of your fixed business expenses whilst you are off work. These include rent, the salaries of non income producing staff, and all other overheads associated with your business, including payment of the interest component of any loans associated with the business.
  • Provides security for your business to ensure you have a business to return to when you are back on your feet and recovered.

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Did you know?

  • Australia’s unemployment rate grew 1% in the 5 years from 2008-2012 (ABS)
  • The number of adults participating in organised sport fell 1.6% between 2006-2010 (ABS)
  • The weekly mean housing cost for mortgage-owners was $408 in 2010 (ABS)
  • The weekly mean housing cost for private renters was $305 in 2010 (ABS)

Spend less time worrying about your debts and more time growing your investment