Overview of insurance

Insurance provides peace of mind because it removes the risks from families and businesses that can't afford the risks and hands them over to the BIG companies that can.

Life insurance

Life insurance can help your dependants cope financially after you die.

Life insurance pays a lump sum in the event of your death, which can be used to:

• pay off the mortgage or any other debts that may affect your family’s financial future;
• pay for funeral costs;
• pay for child care or home help to aid the remaining spouse; and
• provide a reserve to generate an income stream from the interest earnings and the capital draw downs should the remaining spouse choose not to work.

Total and permanent disablement

Total and permanent disability insurance can help you cope financially when disabled and unable to work again.

Total and Permanent Disability Insurance pays a lump sum, that you can use to:

• pay for disability related costs including rehabilitation;
• pay for changes to your lifestyle, for example, to refit your home;
• enable your partner to reduce their working hours to look after you, or alternatively get a carer;
• pay off your mortgage or any other debts you may have; and
• to provide a reserve to use as an income replacement.

Trauma / recovery / critical illness

Trauma Insurance can help you cope financially with the effects that a Trauma Event can have on your life. Trauma Events include conditions like cancer, heart attack, stroke, coronary bypass surgery and angioplasty.

It can be taken as a stand-alone product, or in conjunction with Life Insurance or Total & Permanent Disablement cover.

Trauma Insurance pays a lump sum, which you can use to:

• pay for expensive recovery costs including rehabilitation;
• pay for changes to your lifestyle, for example, refit your home;
• enable your partner to reduce their working hours to look after you, or alternatively to get a carer;
• pay off your mortgage;
• cover the cost of extra childcare or housekeeping.

Income replacement

Income replacement insurance can help you cope financially, in the event of losing your income due to sickness or injury.

If after the expiry of your waiting period, you are unable to earn your pre-disability income from personal exertion in your usual occupation, and you’re required to be under the regular care of (and following the advice of a registered Medical Practitioner), you are entitled to a benefit.

The amount you can cover yourself for, is up to 75% of your income.

Income Replacement Insurance pays an income stream, which you can use to:

• maintain a regular income stream through sickness and/or injury;
• retain the ability to pay your mortgage/rent, bills, ongoing normal expenses;
• enable your partner the benefit of not having to increase their working hours.

Business expense

Business expenses Insurance covers your fixed business expenses following your chosen waiting period, if you suffer a loss of income due to sickness or injury.

A business expenses policy is specifically designed to pay 100% of your ongoing expenses such as utilities, rent of your business premises and salaries associates with non-income generating employees if a health crisis should arise. Unlike Income Protection this type of insurance will pay the benefit for a 12 month period so that your business stays in good shape for you to return to it or to sell if you are unable to return.

Child cover option

Seriously ill children are a significant concern for parents emotionally. While insurance cannot help emotionally, Child Cover is an inexpensive way to provide some financial peace of mind and financial protection for your family if your child should suffer from one of the specified serious medical conditions.

The insured amount is paid on diagnosis of one of the listed serious medical conditions and may provide you with flexibility with regards to taking unpaid leave from work to be with your child, support within the home if need be or to provide funds to ensure that your child has access to the best available medical treatment.