Risk Insurance

Life & Total & Permanent Disability (TPD) Insurance

Life and TPD insurance provides a lump sum payment to beneficiaries in the event of the death or total and permanent disability of the insured. It can be either self owned or via superannuation (which makes the premiums tax deductible).

As part of the overall financial planning process, the protection of wealth is as important as the creation of wealth and ensuring that on's family is protected from the financial consequences of the death or incapacity of a family breadwinner. We can assist clients to determine their insurance needs and provide advice in relation to the most appropriate insurance products.

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 as well as mortgage or rent payments.

This is when you need income protection insurance, otherwise known as disability insurance. It's estimated that an average wage earner will earn something like $4 million over his or her working life, so it would be fair to say that your income needs protecting a lot more than your home and your car. This is even more so given that at the age of 35 you are 10 times more likely to be disabled than die.

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.

Professional Investment Services Pty Ltd.
ABN 11 074 608 558
AFSL 234951