Wealth Protection
Life is unpredictable, and unexpected events can have a significant impact on your finances and your family. Being prepared with the right protection can help you manage life’s uncertainties and provide peace of mind.
Even a minor accident, illness, or the loss of a working parent can create major financial stress. Despite this, research shows that many families do not have adequate insurance to protect against these risks. Having the right protection in place can help safeguard your family, income, and future if the unexpected occurs.
Types of Cover
There are several types of cover to consider under wealth protection, including:
- Life cover – Pays a set amount to your chosen beneficiaries in the event of your death.
- Total and permanent disability (TPD) cover – Supports you with rehabilitation, debt repayments, and ongoing living costs if you are permanently disabled. Often bundled with life cover.
- Trauma cover – Provides a payout if you are diagnosed with a serious illness or injury, such as cancer, heart attack, or stroke. Sometimes called critical illness or recovery insurance.
- Income protection – Replaces lost income if you are unable to work due to injury or illness.
Why Professional Advice Matters
Some insurance may be provided through work or government benefits, but these may not be enough, may have waiting periods, or you may not qualify at all.
Working with a Financial Advisor helps you understand what protection may be appropriate for your situation and how it fits into your overall financial plan.
How We Can Help
Professional Money Management can guide you in making informed decisions about protecting yourself and your loved ones.
We can help you:
- Understand the types of cover available and how they work
- Assess the level of cover that is appropriate for your circumstances
- Review your existing insurance to ensure it aligns with your needs and goals
- Provide guidance on integrating wealth protection into your overall financial plan
- Identify the right types of cover for your needs
- Choose the level of cover that provides genuine financial security
- Access a wide range of insurers and options
- Ensure your plan fits with your overall financial strategy
- Reviewing your financial position to identify potential tax efficiencies
Professional Money Management can help you make the right decisions about your finances. Call us today on (03) 51 433 450.