Life, Income and Trauma Insurance

Are you and your family financially protected if you should have an accident, be diagnosed with a serious illness or suffer an untimely death?

Most working adults in Australia need some form of life insurance, income insurance and/or trauma insurance to safeguard their income if anything were to happen to them. This is particularly important if you have dependents that rely on you financially.

Quick online quotes for personal insurance can often be misleading. They do not take your personal situation into account but provide you with a general quote with possibly important exclusions in the fine print.

At Super Finance, our experienced financial advisers will help you understand your exact needs and will explain the complexities of each type of insurance.

We will help you find insurance policies and levels that are the most suitable for you and your personal circumstances and will give you the best possible quotes for each insurance.

Insurance in super

Organising your personal insurance through your superfund carries tax benefits, which makes it an attractive option. Automatic deduction of your insurance premiums from your employer’s super contribution also eliminates any out-of-pocket expenses. Your insurance is taken care of without any effect on your cash flow and cost of living.

You may already have some type of insurance cover in your superannuation fund. This is something we will investigate and take into account.

The three main types of personal insurance in Australia are:

1. Income protection insurance
2. General life insurance
3. Trauma insurance

Depending on your circumstances, you may need one, two or all three of these. We will help you determine and decide on this and arrange the best combination for you.

Income Protection Insurance

This type of insurance helps provide a steady income if you are unable to work for some time due to illness or injury – so you can still pay your bills. Income protection insurance is a policy that will protect you from financial ruin if an accident or illness prevents you from continuing your work.

You can choose a waiting period that suits your needs before the coverage kicks in and select coverage for just a few years or up to age 65.

Income protection insurance will pay you up to 75% of your regular income so that you will be able to continue to pay your rent or mortgage, daily living expenses and any medical expenses relating to your injury or illness.

In Australia, income protection insurance fees are fully tax deductible.

Income protection insurance is generally taken out in combination with a life insurance policy.

Life Insurance

A general life insurance policy provides a lump sum payment in the event of your death or if you are diagnosed with a terminal illness.

Nobody likes to think they may die of anything other than old age, but anyone of us can be hit by a car or suffer a terminal disease. Simply put, death happens. Don’t let your family fall into debt if it should happen to you.

Protect your family, secure their home and way of life and provide for your children’s future by taking out an appropriate life insurance policy, which is also referred to as Term Life Insurance.

Trauma Insurance

Trauma insurance is also often referred to as Permanent Disability Insurance or Critical Illness Insurance.

This type of insurance helps protect you financially in case you are diagnosed with a critical illness and face large and ongoing medical and other expenses.

Trauma insurance pays out a lump sum to give you financial flexibility if you were to suffer a serious illness or disease such as a heart attack, stroke or cancer.

You can use your trauma cover benefit any way you like. The funds can help pay for your medical bills, a carer, rehabilitation, your living expenses or any other expenditures you may face while recovering from your illness.

Selecting insurance cover that’s right for you

You’ll find there is a huge variety of insurance policies and levels for each of these types of personal insurance. It can be quite daunting to understand what insurance cover you need and how to choose the best policies. It’s best to leave the comparisons to experts such as Super Finance.

Our financial advisers will talk to you about your circumstances and requirements, explain the coverage levels and definitions and recommend the best insurance policies to suit your needs. You can also expect the best possible quotes from us for your insurance.

So contact Super Finance today to make an appointment and together we’ll find the right insurance for you.