Types of Life Insurance
People often get confused because there are a number of different types of life insurance available in the market. Life insurance is both an insurance product as well as the name given to a range of cover options, including Life Insurance, Total and Permanent Disability Insurance, Income Protection and Trauma Insurance.
Types of life insurance options
Life Insurance provides a lump sum payment if you pass away or are diagnosed with a terminal illness to help provide your family with financial security.
Learn more about life insurance with our Life Insurance 101 Factsheet or with any of the following:
- How Much Life Insurance Do I Need?
- How Much Will Life Insurance Cost?
- Do I Need Life Insurance?
- Applying for Life Insurance
- Applying as a Couple
Total and Permanent Disablement Insurance (TPD) provides you with a lump sum payment in the event you become totally and permanently disabled and cannot return to work.
Want to learn more about TPD? Take a look at our Total and Permanent Disability 101 Factsheet or any of the following:
Or request a TPD Insurance Quote.
Trauma Insurance provides a lump sum payment to help cover the costs associated with a set list of trauma or medical conditions suffered, providing temporary financial relief for you and your family.
Learn more with our Trauma Insurance 101 Factsheet or with any of the following:
- How Much Trauma Insurance Do I Need?
- Common Reasons to Claim on Trauma Insurance
- What Does Trauma Insurance Cover?
Or request a Trauma Insurance Quote today.
Income Protection provides you with an income in the event you become sick or injured and are unable to work for an extended period of time. There are different ways to structure your income protection policy, including the waiting period and benefit period. When deciding on an appropriate waiting period, consider your financial position, such as personal savings and sick or long service leave, to understand when you would require cover to supplement your income.
Learn more with our Income Protection 101 Factsheet or with any of the following:
Or request an Income Protection Quote today.