Life takes twists and turns that we can’t always see coming. That’s why it’s so important that we are prepared for life’s emergencies.  You don’t want to leave it to chance.

An accident, sickness or death of a working age parent will almost always have a significant impact on the financial circumstances of the family. Despite this Rice Warner Actuaries calculate that over 95 per cent of families do not have adequate insurance[1].

Having the right insurances in place can help protect your family and your income if the unexpected occurs.

There are different types of cover that fall under the broad heading of life insurance[2]:

• Life cover– also known as term life insurance or death cover, pays a set amount of money when the insured person dies. The money will go to the people you nominate as beneficiaries on your policy.

• Total and permanent disability (TPD) cover– covers the costs of rehabilitation, debt repayments and the future cost of living if you are totally and permanently disabled. TPD cover is often bundled together with life cover.

• Trauma cover– provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on a person’s life, such as cancer or a stroke. It is also referred to as ‘critical illness’ cover or ‘recovery’ insurance.

• Income protection– replaces the income lost through your inability to work due to injury or sickness.

HOW WE CAN HELP

Smart Financial Planning  has access to a large range of insurers and we can tailor your wealth protection plan to suit your circumstances. We will make the insurance process as simple as possible and help you get the right cover to protect you and those you love with a financial safety net in the event that the unexpected occurs.

AREN’T I ALREADY COVERED THROUGH MY WORK AND THE GOVERNMENT?

You may be eligible for some compensations and entitlements depending on your situation (for example Workcover, Sick leave, Social Security). However will these be enough? Will you qualify? And what are the waiting periods?

Please call one of our qualified advisers on Phone 08 9200 2795 to discuss how we can help you protect you and your family financially.

^{[1] The Economic Cost of Underinsurance for a Typical Family, Volume 3, Issue 3 2010
[2] ASIC www.moneysmart.gov.au}