Optimum financial planning starts with a solid foundation. For a majority this means protecting what we currently have: our home, our life, our loved ones, our livelihoods. Unfortunately, many people simply do not have the protection they really need.

Whilst insuring ourselves against undesirable events such as sickness or death may be a confronting exercise, the benefit of being able to set financial issues aside at emotionally difficult times cannot be overlooked.

There are a wide variety of protection policies available these days, some of which are outlined below, but care and guidance must be sought to source the right protection for you and your family. Here at Finwell have the right expertise to guide you and develop the right risk management plan to safeguard your interests.

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Term Life insurance

We are all destined to pass on, and if we do so early, it’s best to have protected those we leave behind from the financial burdens we may face now. In the event of death a lump sum cover (Term Life) can be held that can be paid out to the family of the insured person. So a little foresight now can help alleviate the financial worries for your family in the future. Be it paying off the mortgage, other debts, providing for your children’s education, child care and other living expenses it can be a very worthy investment having covers in place if death occurs.

Total & Permanent Disability Insurance (TPD)

This pays a lump sum amount if a person becomes disabled and not able to work again. This is valuable as it allows the person to pay off debts, cover medical costs, or invest to generate an income for future living expenses.

Income Protection

Most people’s biggest asset is their ability to earn an income. There is a cover that provides a replacement income of up to 75% of current income if the insured is unable to work due to illness or injury. It can cover for short or long periods. Depending on the policy, payments may continue up to the age of 70 if the disability is ongoing or permanent. This insurance is critical if your ongoing expenses are higher than your investments generate, as it can ensure less steps backwards as a result of loss of income from an illness or injury on your path towards your goals.

Trauma cover

If you are critically ill what happens to you financially? – Well there is a cover that pays a tax free lump sum on the occurrence or diagnosis of one of the listed specified illnesses such as heart attack, cancer or stroke. This cover allows choice and flexibility at a time when someone would need it the most. As a result the insured can reduce working hours, spend time with the family, get proper rehabilitation, pay for a carer and a number of other things. A worthwhile investment for your protection.

Find out how we can help by speaking to one of our specialists

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