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Personal Risk Insurance

Protecting your financial position with the help of risk insurance is an essential strategy for most people. Risk insurance can provide financial assistance in the event of yourself or your spouse suffering serious illness, injury or death.

Personal risk insurances to consider include:

  • Life insurance - pays a lump sum on the death of the insured or if the life insured is diagnosed with a terminal illness and has usually less than 12 months to live.

  • Income protection insurance - replaces your income if you are unable to work due to sickness or injury. It provides a monthly payment of usually up to 75% of your pre-tax income.

  • Trauma insurance - pays you a lump sum on the diagnosis of a specified non-pre-existing illness or injury generally including heart attack, stroke, cancer and paraplegia. This can be taken as a stand alone policy or attached to a life insurance policy.

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