Understand your choices

Insurance for life

Most people think of life insurance as something that protects their loved ones financially if they pass away.

While that’s true, life insurance also includes other types of cover that can help to support your family if you’re sick or injured.

A financial adviser will help you choose the types of cover and the level of protection that best meets your needs. But in the meantime, here’s a brief overview of the different cover types that life insurance can include.


Life Cover

Life Cover provides your loved ones with a lump sum payment should you pass away or be diagnosed with a terminal illness. This can be used to pay off debts such as a mortgage, cover daily living expenses, or be saved for future needs such as school fees.


Total and Permanent Disability (TPD) Cover

TPD cover pays you a lump sum payment if you’re permanently unable to work again because of sickness or injury. It can help you pay off debts and cover medical or other costs, so your family can retain their lifestyle even if you can no longer earn an income.


Critical Illness Cover

Critical Illness Cover pays you a lump sum payment to help support you and your loved ones while you recover from serious illness such as cancer, heart attack or stroke. While medical treatments for serious illness are continually advancing, it may be months or years before you’re able to return to work. The money paid can be used for any purpose, whether it’s to seek specialised medical treatment, reduce debts or make necessary lifestyle changes.


Income Protection Cover

Income Protection Cover replaces up to 70% of your income if you’re unable to work because of sickness or injury. It can help you afford daily living expenses and debt repayments, long after your sick leave and savings have been exhausted.

Need help finding a financial adviser?