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Life Insurance for Professionals: What You Need to Know

Why so many Australians are choosing to obtain a life insurance quote as part of their wealth protection protocol.

When deciding upon wealth protection products, many business professionals are focused on obtaining cover for their assets. Often, they have to be reminded that they have neglected one important asset: themselves.

Life Insurance for Professionals: What You Need to Know

As a business professional, you have worked hard to “climb the ladder.” No matter what path you have taken, your unique skill set, motivation and talent have enabled you to create a certain level of income. That income has provided for you and/or your family, allowing you to live the lifestyle you desire.

But have you thought of what would happen if you were no longer able to work? Have you thought of what would happen if you were to suffer a tragic accident or illness, leaving your family alone and without income?

We have. It’s what insurance companies do. Here is a quick overview of three basic life insurance products.

Death Cover

Death cover provides a lump sum for your family in the case of your death. Up to $10,000 can be advanced to cover funeral expenses in the days immediately after your death.

Trauma Cover

Trauma cover pays you a lump sum if you suffer an injury or illness that is specifically covered in your plan. The money is typically used to help pay uncovered medical expenses and to help replace the income you lost.

Total and Permanent Disability (TPD)

TPD cover pays you a lump sum if you become disabled and unable to work. This helps cover debts and expenses and can help in the transitional period between becoming disabled and being able to retire.

Call Approved Financial Planners Today

At Approved Financial Planners, we can help you protect your wealth; talk to a professional consultant in Perth for more information: 08 6462 0888.