Our health is our most valuable asset. For this reason as our starting point at LIFE Financial Planners we ensure that we review our clients existing insurance policies to determine any possible gaps, which could leave our clients or their loved ones in a vulnerable financial position if something was to happen to them.

Life insurance or Death cover pays a lump sum on the death of the insured person.

Total and Permanent cover will be paid in the event that you will not recover from your illness.

In the event you are unable to perform your usual occupation, Income Protection Insurance cover will pay up to 75% of your salary. This premium is generally tax-deductible to the person insured.

Trauma cover pays out a lump sum on the diagnosis of an insured condition such as cancer or a heart attack. Many trauma policies also include death cover.

All the above insurances apart from Trauma can be purchased through your superannuation. Restrictions may apply upon making a claim. Income protection can also be called salary continuance if held though superannuation. In the past many super funds would only be able to provide cover for up to two years, however recent changes have meant that cover can now be held through super and be paid to age 65.

Every good financial plan will start with a full assessment of insurance needs.

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