It is important to consider risk insurance to ensure any debt you may have can be repaid and not have to be passed on to your family.
At Pinnacle Financial Planning, we evaluate your needs with regard to risk and formulate a risk management strategy to ensure you are adequately covered via Life, Total and Permanent Disability, Trauma and/or Income Protection Insurance.
We have a qualified Risk Insurance Adviser that can assess your personal situation and recommend policies that best suit your needs. We can also review any current policies you may have to ensure they continue to provide an adequate level of cover.
Life insurance can be either purchased as permanent or temporary insurance. Insuring your own life ensures you leave adequate resources for your family and dependants.
Total Permanent Disability Insurance
Total Permanent Disability insurance is generally attached to life insurance policies, which provides for payment of an agreed sum to an insured when the insured becomes totally and permanently disabled. The definition under these policies differs and it is essential that it be made clear what constitutes disablement between all policies.
Trauma insurance can provide a lump sum payment should you suffer from a medical condition that is stated in the policy. Trauma insurance can be used to take care of all your bills so you're free to recover and get on with your life. Your lump sum is paid on diagnosis of the illness that is covered by the policy.
Income Protection Insurance
The ability to earn an income is the most valuable asset for many people. Income protection policies can replace up to 75% of your gross income if you're unable to work due to sickness or injury.
If you would like to discuss wealth protection strategies to ensure you are adequately covered, contact Pinnacle Financial Planning to make an appointment with our qualified Risk Insurance Adviser.