General Insurance

Advanced Finance Solutions - Property and General Insurance

We can help you protect your life

We like to think ‘it will never happen to us’.

But the reality is, some of us will pass on sooner than expected – leaving family and loved ones behind.

Should misfortune occur, could your loved ones survive without you? How would they pay the monthly bills? Or keep up with mortgage repayments?

Life Cover pays a lump sum amount in the event of your death – helping protect your loved ones’ lifestyle and future. It is essential for those with family or other financial commitments. What are the cover features? Here are just some of the features you can expect with Life Cover:

  • Early payment: If you’re diagnosed as terminally
    ill, you are unlikely to be working which means less household income. You may therefore be elibigle for early payment.
  • Advanced payment: Access up to $25,000 to help cover funeral costs.
  • Additional benefits: For instance, the Guaranteed Future Insurability benefit lets you increase your sum insured – without providing extra medical evidence – following key life events.

What are the cover options? Here are just some of the options you can expect with Life Cover:

  • Inside or outside super: You may be able to hold your Life Cover inside super and pay premiums using pre-tax dollars. There are often restrictions however, so it’s important you talk to your financial adviser.
  • Choice of premium options: ‘Stepped’ premiums increase each year in line with your age, while ‘Level’ premiums remain constant until age 65 (at this point, they convert to Stepped).

What do the payments protect?

Having the right level of cover helps ensure your family could survive without you. The benefit payment can be used to meet the following expenses.

  • Mortgage repayments. Whatever happens, there will be funds available to safeguard the family home.
  • Day-to-day expenses. Those everyday bills might not seem like too much of a burden, but they can really add up. Would your family be able to cover living expenses such as food, clothing and schooling without you?
  • Children’s future. The cost of raising a family is significant. Life Cover can help ensure that your children have the schooling and upbringing you would want for them, if you weren’t around.
  • Retirement protection. The lump sum payment means your loved ones’ retirement savings won’t be put in jeopardy.
  • Funeral costs. Your family will be able to afford the significant cost of a funeral and the related expenses.

Income Protection Cover pays up to 75% of your income if you are ill or injured. This money can help you and your family manage your living expenses while you recover.

What are the cover features?

Here are just some of the features you can expect with Income Protection Cover:

  • Tax deductible premiums: Your premiums are generally tax deductible, allowing cover to be very affordable.
  • Partial payments: If you’re able to return to work part-time, you can receive a partial monthly payment to support your transition back to full time employment.
  • Additional benefits: A range of additional benefits let you tailor the cover to suit your needs.

What are the cover options?

Here are just some of the options you can expect with Income Protection Cover:

  • ‘Agreed value’ or ‘Indemnity’: ‘Agreed value’ will pay the predetermined sum insured no matter what your income at time of claim. Meanwhile, ‘Indemnity’ cover will pay the lesser of your sum insured or income at time of claim.
  • A choice of waiting periods: Choose how long you will wait, in the event of a claim, before you receive benefit payments – 2, 4, 8, 13, 26, 52 or 104 weeks.
  • Benefit periods: The benefit payment period can be for one, two or five years or to Age 65 or 70.
  • Extra options: For instance, the Retirement Protection Option will cover your super contributions in the event of a claim.
  • Inside or outside super: You may be able to hold your Income Protection Cover inside super and pay premiums using pre-tax dollars. There are often restrictions however, so it’s important you talk to your financial adviser.
  • Choice of premium options: ‘Stepped’ premiums increase each year in line with your age, while ‘Level’ premiums remain constant until age 65 or age 70 depending on which ‘Level’ premium option you have selected (at this point, they convert to Stepped).

What do the payments protect?

A monthly benefit could help you stay on top of debts, pay for medical bills and generally give you the means to maintain a reasonable standard of living if you’re not able to earn an income.

  • Mortgage repayments. Whatever happens, there will be funds available to safeguard the family home.
  • Day-to-day expenses. Everyday bills can really add up. Without the ability to earn, this money can help cover living expenses like food, utility payments, clothing and schooling.
  • School fees. With continued income, you can continue to afford to send your children to the school of your choice.
  • Additional care. Disabilities often incur the need for additional care or help around the house. Ongoing income can help to cover this.
  • Rehabilitation. Rehabilitation is often required to support your transition back to work. Ongoing income will help you to afford this.
  • Retirement savings. You can select options that will cover up to 85% of your income to help maintain your retirement savings.

Total and Permanent Disability (TPD) Cover provides a tax-free lump sum payment if you become disabled to the point where you can no longer work.

What are the cover features?

Here are just some of the features you can expect with TPD Cover:

  • A choice of disability definitions: Choose the one that best suits your needs from ‘Own occupation’, ‘Any occupation’ or ‘Activities of Daily Living’.
  • Flexible packaging options: For instance, combine TPD and Life Cover to broaden your protection in a cost-effective manner.
  • Additional benefits: For instance, the Guaranteed Future Insurability benefit lets you increase your sum insured – without providing extra medical evidence – following key life events.

What are the cover options?

Here are just some of the options you can expect with TPD Cover:

  • Standalone or ‘linked’: In the event of a claim, ‘standalone’ cover will not impact the level of any of your other covers. When ‘linked’, a TPD claim payment will result in an equivalent reduction in the linked Life Cover (this is the more cost- effective option).
  • Inside or outside super: You may be able to hold your TPD Cover inside super and pay premiums using pre-tax dollars. There are often restrictions however, so it’s important you talk to your financial adviser.
  • Choice of premium options: ‘Stepped’ premiums increase each year in line with your age, while ‘Level’ premiums remain constant until age 65 or age 70 depending on which ‘Level’ premium option has been selected (at this point, they convert to Stepped).

What do the payments protect?

Sure, you could survive on your savings – for a while. But facing permanent disability would leave very few options for you and your family to manage your future lifestyle. A lump sum payment is critical to help meet the following expenses.

  • Mortgage repayments. Whatever happens, there will be funds available to safeguard the family home.
  • Day-to-day expenses. Everyday bills can really add up. Without the ability to earn, this money can help cover living expenses like food, utility payments, clothing and schooling.
  • Ongoing care. Employing a full-time caregiver is often an expensive necessity. A lump sum payment can assist with the cost as well as help with ongoing rehabilitation.
  • Medical bills. This money can help pay for medical treatment that your health insurance is unlikely to fully cover.
  • Home modifications. In the event of a claim, you’re likely to need modifications to your home or work environment.