Personal protection
Buying your first home or upgrading to another home is an exciting time and a perfect time to consider the impact on your financial position if things
don’t go as planned.
Personal protection provides financial security to you and your family for unexpected events such as loss of income, serious injury or illness, total and
permanent disablement or even death.
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Types of Personal protection
There are different options, each specifically designed to protect you from certain events:
- Life cover — This cover is designed to pay out your dependents a lump sum when you pass away
- Total & permanent disability cover — This type of cover provides a lump sum to help you with rehabilitation and living costs.
- Trauma cover — This helps you with a lump sum if you’re diagnosed with a major illness
- Income replacement — pays a percentage of your income if you can’t work due to illness or injury
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Imagine for a moment the following scenario: You suffer a lengthy illness or serious injury and are unable to work for several months or even years….., What will happen to your income? How will you pay for your everyday living expenses?
If your income were to stop, what would happen to your mortgage repayments and other everyday expenses?
If your mortgage repayments could not be paid, what would happen to your home?
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INCOME | HOUSE | CAR | HOME CONTENTS
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Listed above are the insurances most people are familiar with. Which of the above items is the MOST IMPORTANT to you?
Considering you couldn’t have any of the other items WITHOUT YOUR INCOME, would you agree income should rank at or near the top? If your income is the only item on the list which you currently do NOT have insured, do you think you should investigate this option?
Income Protection
Life & TPD
Mortgage Protection
Trauma
