What is Insurance?
Insurance is a form of protection, while it doesn’t remove the risk of something going wrong, it is a way to protect yourself, your family and the things you own if something does happen.
Having insurance enables you to replace or repair your assets, whether those assets are your belongings or your capacity to earn income. It is important for everyone, and as you move through life your need for insurance will change.
It is important to work out the best way to structure your insurance, whether inside or outside superannuation, or a combination of the two. If your insurance is held within superannuation, the cost of the premiums is withdrawn from your superannuation balance.
Types of Insurance Cover
There are many types of insurance. Car or home/contents insurance allows you to insure your belongings. Personal insurance policies enable you to insure yourself and your ongoing wellbeing. Personal insurance provides protection against sickness, injury, and death, and includes:
- Life Insurance
- Total & Permanent Disability (TPD) insurance
- Trauma insurance
- Income Protection
The amount of insurance you need is affected by:
- How much you earn
- Your cost of living
- Both your assets and liabilities
- Your marital status (single, married, de facto, etc.
- The number of dependents you have
Are you looking for a genuine partner to help you drive the next stage on your financial success journey?
We would be delighted to discuss your requirements and objectives in person or over the phone to get to know your goals better. Please feel free to contact us or book an appointment to set up a no-obligation meeting with one of our financial advisors.