Personal or life insurance protects you from the financial risks following a loss or a debilitating medical condition.It will keep your assets safe, and your family free from financial distress. It means financial independence, reducing your reliance on the help of family relatives or friends when in need. Here are the four main life insurance covers and their benefits:
1.Life (death)
When you are diagnosed with a terminal illness or pass away, this cover spares your family from the hefty costs of hospitalization or a loss. You will receive a lump sum to cover your immediate financial needs like funeral costs, debts, and ongoing household expenses. It will also serve as a replacement income to maintain your family’s lifestyle, send your kids to school, and pay for extra childcare or home services.
2.Total & permanent disability (TPD)
Due to a serious medical injury or accident, the doctor clears you as unable to do manual work or a person with a total and permanent disability. You will get a payout to keep your lifestyle,fund medical treatment or rehabilitation, and pay your debts.
3.Trauma/critical illness
If you’re diagnosed with a severe medical condition like cancer and stroke or undergo a risky procedure such as heart surgery, you can claim a payout. You will receive a tax-free lump sum to cover your medical treatment or rehabilitation and your family’s living expenses.
4.Income protection
If unable to work due to an illness or injury, you don’t have to use up your savings. You will receive a payout in monthly installments to maintain a steady income stream so you can keep your lifestyle and pay medical and rehabilitation costs.
Life is simply irreplaceable. But with personal insurance, you can manage the financial implications of a loss or injury.
Talk to us today. Call 03 9621 1450 or visit www.ausfinancecg.com.au
发表于 3-10-2019 12:27:59
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