Risk management planning
If you have dependants or business partners, it is essential that you protect yourself against catastrophic risks such as death, disability or dread disease.
We’ll help you to assess the full impact of one of these events on your family or business based on your individual circumstances. We’ll start by establishing if you are under-insured or paying too much.
We’ll help you to plan for various risk scenarios.
If you are unable to work for a prolonged period due to ill health or disability and you do not have another source of income, you generally will need an income protection policy.
Income Protection insurance pays you a percentage of your salary as a monthly benefit to cover your expenses should you become unable to work. This policy normally pays to retirement age and is seen as a salary replacement. Should you be well enough to go back to work, the payments will reduce or cease. Income Protection allows you to maintain your lifestyle so that you can concentrate on getting back to good health.
If you have a family or others who depend on you to produce an income or you have debt that you want to be repaid in the event of your death, you are likely to need life insurance. Life Insurance provides a lump sum payment directly to your nominated beneficiary or beneficiaries upon your death.
If you were to become injured or permanently disabled so that you are unable to ever work again in your chosen profession, you would need to consider the general cost of living and be able to afford the medical expenses associated with living with this condition.
Total and Permanent Disability is an added protection benefit often offered with life insurance policies, which pays out a lump sum. Generally speaking, it covers you if you are unable to work ever again because of a disability.
Critical Illness was introduced due to medical advances that have increased our survival rate after serious medical conditions such as a heart attack, stroke or cancer. Critical Illness offers protection by providing a lump sum payment if you are diagnosed with a specified medical condition. This cover can aid in easing the financial impact of a critical illness on your lifestyle by paying you a lump sum when you need it most.