Insurance and Risk Cover

Insurance is financial product that can protect you and your family. This means protecting your lifestyle and wealth, from an event such as death, disability or illness. The event may result in loss of income or increases in expenses that you or your family cannot afford due to the event. There are different types of insurance for different types of events. Selecting the types of events to be covered, the insurance terms and level of cover need to be considered as compared to your need. While a high level of cover is ideal, the insurance products and cover need to be affordable. Further as insurance cover has a cost known as the premium, this impacts your long-term wealth accumulation so it is important to understand the trade-off between wealth protection through insurance and risk products and wealth accumulation.

The amount of life insurance coverage needed depends on factors such as your type of occupation, income, financial obligations, lifestyle, debts, and the needs of your dependents. A common guideline is to have enough coverage to replace your income for a certain number of years or to cover outstanding debts and expenses.

Insurance premiums are influenced by various factors, including type and amount of coverage, age, gender, health status, occupation, claim history, etc.

Yes, you can typically adjust the coverage amount to reflect changes in your financial situation, lifestyle, or needs. You may need to undergo medical underwriting or provide updated information to make changes to your coverage, and adjustments may result in changes to your premiums. We help you throughout the process and conduct regular insurance reviews to ensure that the policy remains suitable to your circumstances.

It’s important to protect your family’s future. Life insurance is one way to make sure your loved ones are looked after even after you are gone. When you take out a life insurance policy, you can choose a beneficiary to receive a lump sum payment if you pass away or are diagnosed with a terminal illness.

This lump sum can help your loved ones keep up with important payments, like rent, mortgage, medical bills, school fees or utility costs, giving them financial peace of mind during a difficult time.

Total and Permanent Disability (TPD) Insurance provides you with a lump sum payment should you have an accident or injury that leaves you permanently disabled. It can help cover the cost of medical and rehabilitation treatments, debt repayments or other costs of living so you can go on making the most of your life.

Critical Illness Insurance, also known as Trauma Insurance, could give you financial peace of mind by providing a lump sum payout if you become seriously ill or injured. It can help support you financially if you require extensive medical treatment to concentrate on your recovery.

Everyone has a different reason for taking out income protection. Income protection can cover up to 70% of your monthly income for a defined period of time if you suffer a loss of income due to sickness or injury, which may help you focus on getting back on your feet.