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Insurance (including but not limited to)

Life Insurance
With life insurance, the life you're really insuring is everyone else's! Life insurance that pays out upon death is to all intents and purposes death cover. While you won't be around to enjoy any benefit, your family will and that's why it's important to have some kind of cover. As the major breadwinner, who would look after your family when you die? Do you really want to be beholden to someone else to look after your family? What if they need to go on welfare?

To read an article from the Courier Mail (Brisbane) about how a business may be affected similarly to a family click here.
Or to go to other Helpful Articles click here.

Income Protection Insurance
While life cover will look after your family when you die, what happens if you can't work because of illness or an accident and it's going to take months to recover? Or maybe you can never work again and you've got school fees to pay, food to buy and a mortgage hanging over your head.

Health insurance may cover a proportion of your medical bill, but it won't cover your rent or mortgage and living costs.
Workers Compensation may cover you if you injure yourself at work but what if you have an accident when not at work, or illness?
An income protection plan will pay a regular income if you are unable to work because of sickness or injury.
Income protection is particularly important for the self-employed, who cannot rely on short-term sick leave from an employer.

Most policies will pay up to 75 per cent of your average monthly income (net of business expenses but before tax), if a disability, illness or injury prevents you from working. Income protection premiums are generally tax deductible in most cases.

Read more in the Newsletter article: Income Protection Business Insurance.
Or to go to other Helpful Articles click here.

Trauma Insurance
If you're diagnosed with a critical illness or crisis, trauma insurance can relieve your financial difficulties. Unlike income protection insurance, which is dependent on your inability to work, trauma cover is paid out on the diagnosis of a defined critical illness regardless of your working status.

Instead of receiving a monthly income stream, you are paid a lump sum that you can spend on whatever you like – medical bills, your mortgage, an overseas trip, even a new car. The insurance company makes no demands on how you spend the money. Trauma insurance is often an adjunct to term life policies.

Please refer to our article Bridie Shines Bright . It is a story of a young girl who contracted leukaemia and the family had to sell a house to pay living costs, and haven't been able to work since she was diagnosed. For as little as $27 a month, this family could have received $200,000 lump sum to assist them.
Or to go to other Helpful Articles click here.