TERM LIFE: This is the most common of personal insurances and comes in a variety of different forms. Life Insurance pays a nominated amount to the beneficiaries of the life insured if they were to die. There are usually several benefits that are attached to this type of cover such as Financial Planning Benefit, Funeral Benefit and Accidental Injury Benefit (Depending on the Life Company)

TOTAL & PERMANENT DISBABILITY (TPD): There are two types of TPD. An ‘any occupation’ and ‘Own occupation’ definition. The simple way to explain it is that a benefit will be paid if you are unable to work in your ‘own’ or ‘any’ occupation EVER again. You can choose between the two definitions as the ‘own occupation’ will be more expensive and also may not be available depending on your occupation. For more information, email us

INCOME PROTECTION: There are many variables to this cover and the premiums depend on the company who take into account, the following information: Age/ Sex/ Occupation/ Income/ Smoking Status and State to determine the premiums. These policies are designed to pay you a benefit if you are unable to work due to sickness or injury. Check out some of our articles to learn more about some of the issues that are linked to Income Protection and what to look out for.

BUSINESS EXPENSES PROTECTION:Basically an add on to the Income Protection if you are self employed to cover the ‘business expenses’ which are on your books. Income Protection will cover the personal income but will not cover things that you claim as a business expense such as mobile phone expenses, car leases, rent, etc. This cover will fill in the gap that exists between personal and business.

KEYMAN INSURANCE: Also known as Keyperson or an add on to business insurance (not to be confused with business continuation insurance – See Davelcorp for further information). This is quite a technical type of insurance and we have a specialist consultant who is experienced in this area. Keyman will pay a business a lump sum if their ‘Key’ individual/s were to die or be unable to work again (Re TPD) and the business is able to source another employee to replace them. The benefits are used to substitute for the loss of income incurred from losing that employee and keep the company secure from taking on additional debt to cover for loss of productivity.

There are different tax issues relating to this type of cover, so we would highly recommend that you speak to our consultant before persuing this type of cover. You can contact Paul Davies by clicking here.

TRAUMA INSURANCE: Trauma Insurance will pay a benefit to the insured person if they were to suffer from a trauma (illness or injury) specified within the policy to that particular life company. This type of insurance can be more expensive than the others as it defines when a benefit will be paid. You can find out more by downloading one of the Product Disclosure Statements on the left of this page or contact us here for help going through the benefits.

PERSONAL SUPERANNUATION: There are many fund managers in the market who offer a range of different options relating to this type of investment. You can choose to have a lump sum rolled over into a fund or pay ongoing or casual contributions and even have part of your salary paid to the super fund. Speak with one of our advisers to determine what type of fund would suit you.

CORPORATE SUPERANNUATION: With choice of fund and employees having more and more knowledge of the superannuation market, it’s even more important these days to have the correct superannuation structure in place to accommodate for all of your employees. Due to employees having choice of where their super is paid, employers need to have an easy way to contribute to a range of different funds easily. If you are an employer, or have clients who employ people, they shouldn’t be sending multiple payments for different employees each time. There are many funds who offer a free built in service that allows the employer to pay one sum to them and they distribute to the other funds if needed each time. Ask us how to find out more on how your company super can work for you.

At any time, you can call us on 1800 989 657 or email us here for help and advice with any of these policies.