Personal risk insurance is an important way for both you and your dependants to secure financial support in the event of serious illness, disability or death. If your ability to earn an income is affected, a personal risk insurance policy may enable you to maintain your current lifestyle and continue to support those who depend on you.
At Fortis Financial Planning we work with you to determine whether you have a need for insurance, how much insurance you may require, the types of cover that are important – and how it can be best structured to meet your goals.
The different types of personal risk insurance include:
- Life Insurance: A lump sum payable on death or terminal illness. This can help support your dependants to maintain living standards or pay off debts.
- Total and Permanent Disability (TPD) Insurance: A lump sum to help support you if you are totally and permanently disabled due to illness or injury.
- Income Protection Insurance: A monthly income stream to help support you if you are temporarily unable to work because of illness or injury.
- Trauma Insurance: A lump sum to help support you if you are diagnosed with a specified major medical condition (e.g. heart attack, stroke or cancer).
If you would like to read more about the different types of insurances and how much you might need, please read our Protecting You and Your Family Report HERE.
To speak to one of the Fortis Financial Planning advisors, call us on +61 2 9267 0108 or make an enquiry.