About Life Insurance
Most Australians insure their homes and their cars but what about ourselves?
Many say that you never personally benefit from life insurance, though we disagree. When you have life insurance every day you have comfort in the knowledge that when you do pass away your family will be looked after – which is good for your peace of mind.Many people have some basic life cover within their employer super fund, but will it be enough to clear all debts and care for your family ?
When you pass away, life insurance provides a lump sum payout to your beneficiaries.
You can add other types of insurance to your life cover- like total and permanent disability insurance that pays out a benefit early if you are totally and permanently disabled or Trauma cover; this is a serious illness insurance that pays when you have one of the specified serious illnesses such as heart problems, stroke and many cancers.The advantages of bundling these insurances together with your life insurance include – having only one premium to pay – and insuring them all with the same insurer you will generally receive a discount or other advantages – just like you may receive benefits for insuring your house and car with the same insurer.
How can Life Insurance Cover protect my family’s lifestyle?
Would your family be able to financially support itself if you were no longer around to provide for them? The average Australian family has many regular expenses to pay like rent, the mortgage, school fees, credit card bills, groceries etc.If the worst should happen and you are no longer around to financially support your family, life insurance can protect your family financial security and lifestyle. Also many families only insure the life of the main income earner, but it is worth considering the financial impacts of losing either parent. When someone passes away there is a lot of regret and emotion. There are also a lot of unpaid bills. By insuring both parents, your family can be financially secure when the unexpected occurs.Rick Davis is an accredited risk specialist with over 30 years’ experience. He can help you to compare, choose and apply for life insurance, call for an appointment today.
“Six weeks ago I was diagnosed with bowel cancer and secondary liver cancer. My initial diagnosis was three to six months and I was facing the possibility of a major operation to remove the cancer in my bowel. By the afternoon, after my second visit to the specialist, my life expectancy had been reduced to between six weeks and three months.
I phoned my insurance adviser David, who I had known for 19 years and who had originally assisted in putting my insurance cover in place. Within three days of submitting a claim, I received my first payment of $653,535 and then another payment which brought the total payment to over $1.2 million.
Although I have not met the people who have been involved, David kept me informed of everyone’s efforts to ensure that my claim was processed in the most efficient manner. I am sure this has a lot to do with the excellent relationship that he has with my insurer and the fact that the right advice was given in our situation.
To all your staff, I would like to express our thanks for relieving me of the financial burden and worry that I would have faced if I did not have this cover.”
Geoff and his adviser’s real name have not been used to protect their privacy.
“When I was diagnosed with cancer, my family was thrown in to financial turmoil, and I had to rely on friends dropping in groceries so that I could feed my family.
“AIA has been the ‘Rock of Gibraltar’ in my life and I feel extremely blessed to have had the support of such dedicated staff who treat you with integrity, even after going though the investigation required when making a claim. AIA will assess your individual needs in a fair and unbiased manner and they have never at any time denied any liability. They have always been forthcoming in helping me get back on my feet.
“I feel very strongly about stating my case after reading all the negativity against insurance companies in the media… If you are honest you should not have any concerns. I ask that you check your own family insurance as the devastation to your children caused by cancer is enough in itself, without having to undergo a financial crisis as well.”
“It’s easy for people to become complacent and think that they are young and don’t need insurance. No matter how dire my own financial circumstances, I have always kept insurance as a high priority. When faced with illness your family is already under huge stress without the added burden of financial pressures.
“Once again, thanks to the team at AIA for your support.”
Claimant, WA, October 2009.
About Income Protection Insurance
If you’re unable to work due to illness or injury, your home, your family’s financial security and all the things you’ve worked so hard for could be at risk. With income protection insurance, you can receive up to 75% of your usual monthly income, so you don’t have financial difficulties while you’re recovering.
How it works
Income protection insurance lets you tailor cover to suit your needs and budget. You can also choose your waiting period (from 14 days all the way up to 2 years) and even select how long you receive your insurance payments for: two years or up to age 65. Optional Rehabilitation benefits can also help you get back to work faster and can also pay lump sums for specified injuries such as broken bones. Premiums are tax deductible and the policy will cover you 24 hours a day, anywhere in the world.
Who can apply?
You can apply for income protection insurance if you are self-employed or working at least 20 hours per week for at least 12 months before starting your policy. All Australian residents aged over 18 can apply – and depending on your age or amount of cover required, you may not need a medical or blood test.Protect your income by comparing Income Protection Insurance policies with Rick, call for an appointment today.