Life Insurance
Life Cover pays a set amount of money (the insured amount) if you pass away. Life cover can be held personally or within superannuation.
Total and Permanent Disability
Total and Permanent Disability (TPD) cover provides a lump sum payment (insured amount) if you suffer a total and permanent disability. It can also be held personally or within super, however there are some restrictions with policies held within superannuation.
Trauma Insurance
Trauma insurance provides a lump sum payment (insured amount) if you suffer a specified illness. The most claimed upon specified illnesses are cancer, heart attack and stroke. Trauma insurance can only be held personally.
Income Protection
Income protection provides monthly payments of 75% (usually) of your wages, after the nominated waited period until the benefit period expires or until you return to work. Income protection can be held both inside and outside of superannuation, however there are some restrictions with policies held within superannuation.