At Lifebroker our experienced insurance experts can help you to decide on the right personal or life insurance for your family, lifestyle and financial position.
There are a number of different insurance options available:
Life insurance provides a lump sum benefit paid directly to an elected beneficiary upon the death of the policy holder. If you have a family, life insurance ensures that in the event of your death, your loved ones won’t have to shoulder the burden of any outstanding financial debts you unintentionally leave behind.
Ensuring the financial security of your family is one of the most important responsibilities anyone can undertake. If you have, or expect to have future expenses such as mortgage repayments, car repayments or school or tuition fees then taking out a comprehensive life insurance policy is something you should strongly consider.
Obtaining a comprehensive life insurance policy will help you rest easy in the knowledge that should the worst occur, these ongoing expenses will still be able to be met in your absence.
Income Protection (IP) will provide you with a monthly benefit payment of up to 75 per cent of your current income in the event you are unable to work due to illness or injury.
Losing the ability to earn an income for any length of time can cause great financial, not to mention psychological, stress. If you have dependents who rely on you to provide a constant income stream for their ongoing wellbeing, this stress would be multiplied sevenfold.
Taking out comprehensive income protection will allow you to ensure any financial commitments such as loan repayments, bills, tuition fees and the range of countless other daily expenses will all still be able to be met in the event of you being unable to earn an income.
Total and Permanent Disability (TPD) Insurance provides a lump sum payment to the policy holder in the event of them becoming totally and permanently disabled.
Becoming totally and permanently disabled through illness or injury can have an enormous impact on both your life and the life of those around you. There will be a significant number of changes to your current lifestyle, many of them expensive.
Obtaining a TPD insurance lump sum payment can be used to help cover rehabilitation costs, pay off any outstanding debts, purchase necessary health care equipment and cover ongoing household expenses such as loan repayments and bills.
In the event of you suffering a major trauma, there will be a number of significant financial ramifications which could adversely affect the lives of both you and your family. Trauma Insurance provides a lump sum payment directly to you in the event you suffer a major trauma which significantly impacts your life.
There are over 50 individual trauma incidents which can be covered through trauma insurance. The lump sum payment provided through trauma insurance can help financially support your rehabilitation treatment, pay for specialist medical equipment and help your family stay on top of bills and other expenses while you recover.
Trauma insurance will ensure that in the event you are unable to provide an income due to major illness or injury, your family will still be able to comfortably enjoy the lifestyle you have worked so hard to provide for them.
Organising the funeral of a loved one is an emotionally exhausting experience. The last problem anyone needs during this stressful time is to worry about how the funeral will be paid for.
Funeral Insurance will provide a lump sum payment to an elected beneficiary in the event of the death of a policy holder.
Premiums for funeral insurance are generally much lower than life insurance or income protection. As the funeral insurance lump sum payment is smaller and specifically tailored to help with the expenses of a funeral only, it is generally much easier for people to obtain a funeral insurance policy than say, life insurance or income protection.
Lifebroker offers mortgage protection through a combination of life insurance and income protection (IP). Life insurance and income protection policies do not specifically dictate where you must direct a benefit once your claim is approved.
On top of helping cover everyday living expenses as well as things like tuition fees or credit card repayments, you will able to use both life insurance and income protection benefits to help honour your mortgage repayments on time.
The key difference between “Mortgage Insurance” and “Mortgage Protection” is flexibility. Mortgage insurance is only able to be applied to home loan repayments, whereas Lifebroker’s mortgage protection options allow you to direct much needed financial assistance to the places you need it most.