Insurance Products Explained

1. Life Insurance

Purpose: Pays a lump sum benefit on the death or diagnosis of terminal illness of the insured person.

Why should you have it? To provide for your family/loved ones in the event of your death, pay out family debts and provide an income for your surviving partner and children in the event of your death.

2. Trauma Insurance

Purpose: Provides a lump sum payout (tax free) should the insured suffer a major illness such as heart attack, cancer or stroke. Trauma insurance provides cover against a number of critical events.

Why should you have it? To aid in the financial recovery process by paying out your debts and medical bills.

3. Total and Permanent Disability Insurance

Purpose: Provides a lump sum payout should the insured become permanently disabled and unable to work in their chosen profession ever again or suffer one of the following events:

• the loss of both feet or both hands;
• the loss of sight in both eyes; or
• any combination of the above.

Why should you have it? To replace lost income, provide for medical bills and repay outstanding debts.

4. Income Protection Insurance

Purpose: To replace your income during periods in which you are temporarily unable to work due to sickness or injury.

Why should you have it? If your lifestyle is dependent on a regular income then you need to protect that income. Income Protection Insurance is particularly important if you need to ensure that loan repayments are covered in the event that you are temporarily unable to work.

<< Peter Dale, Hudson's Insurance Specialist, can save you money on your premuims by assessing your situation, your existing coverage and dermining the best policies for you! Book an appointment with Peter by calling us on freecall 1800 804 296 or book online!