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Life Insurance

• What it is: Also known as “life cover' or 'death cover,'benefit paid out when the policyholder dies or is diagnosed with a terminal illness

• How it works: Pays a lump sum to your nominated beneficiary (e.g., spouse, children) if you pass away or are diagnosed with a terminal illness.

• Why you may need it: Provides financial security for your family in the event of your death, helping to cover living expenses, mortgage, and other debts.

Trauma Cover (Critical Illness Cover)

• What it is: Pays a lump sum if you are diagnosed with a serious illness, such as cancer, heart attack, or stroke as defined in the policy.

• How it works: The payout can help cover medical bills, treatment costs, and other expenses while you focus on recovery.

• Why you may need it: Helps ease the financial burden associated with serious health conditions, allowing you to focus on getting better.

Total and Permanent Disability (TPD) Cover

• What it is: Pays a lump sum if you become permanently disabled and are unable to work again due to illness or injury.

• How it works: You can choose to be covered for your specific job or for any occupation, with different costs and payout criteria.

• Why you may need it: Provides financial protection if you lose the ability to work ever again, helping to cover living costs and essential expenses.

Income Protection Insurance

• What it is: Pays up to 70% of your regular income if you're temporarily unable to work due to illness or injury.

• How it works: The payments typically last for a set period (e.g., 1-2 years), helping to cover your living expenses while you're off work.

• Why you may need it: Ensures that you have financial security if you're unable to work due to illness or injury,while it does not fully replace your income, it can help you maintain your and your families ongoing living costs..

How Life Insurance Works?

• Premiums: You pay a recurring fee (premium) to the insurer in exchange for coverage. 

• Claim Process: If you experience a covered event, your beneficiary (or you) will receive a payout to help with financial obligations, medical bills, or living costs, depending on the policy. 

• Policy Details: Each policy will outline what's covered, exclusions, and any waiting periods before a claim can be made. Always review the Product Disclosure Statement (PDS) before purchasing. 

• Financial Security: Life insurance ensures that you and your loved ones are protected if something unexpected happens to you. 

• Peace of Mind: Knowing that your family would be financially supported in the event of your passing or a serious illness or injury  provides peace of mind. 

Why You May Need Life Insurance? 

Assess Your Current Situation

How much do you earn? Who depends on your wage? Do you have any big outgoings like a mortgage or other debts?
What would happen if you were no longer around or earning?

Depending on the answers to these questions, you may need a higher or lower level of cover.

Consider Your Future Needs

Life insurance isn't static. Review your coverage periodically, especially when major life changes occur, such as marriage, having children, or buying a home.