Types of Insurance

What is it?

Who needs it?

Why do you need it?

Trauma

A lump sum payable if you suffer a specified traumatic medical condition e.g. Cancer, Heart Attack or Stroke.

Everyone.

Additional expenses are incurred when you have a major illness.

You may need time to recuperate without financial stress.

You may need to significantly re-structure your lifestyle.

Term Life

A lump sum payable on death or terminal illness.

Everyone.

If you die, you want to relieve your family of debt.

You want to secure you family’s financial future.

Total and Permanent Disablement

A lump sum payable if you are unable to ever work again due to illness or injury e.g. Paraplegic, Depression.

Everyone.

If you can’t work again, you still need capital to survive.

You will have greater expenses.
You need to make provision for retirement.

You want your family to maintain their lifestyle even if you can’t work.

Income Protection

A replacement income if you can’t work at full capacity or at all, due to sickness or injury.

Anyone who would find it difficult to make ends meet without their regular income.

Your lifestyle depends upon your income, no income = no lifestyle.

To protect the income you earn.

You have a family to provide for.

You don’t know when illness or injury might occur.

Business Expenses

Expenses Reimbursement of fixed operating expenses of your business if you can’t work due to sickness or injury.

Self-employed people with a key role in a small business.

Your business will continue to generate expenses ever if you’re not working.

You need your business to keep operating.

You don’t want to have to sell your business & possibly obtain a “fire sale” price.

Again, you don’t know when illness or injury might occur.