Protecting those you care about most
Keeping you covered for a rainy day.
Life insurance is not the sort of thing people like to think about on a day to day basis. It is an unfortunate part of life that things can go bad – so it is important for you to take steps now to ensure you have good coverage should the worst happen.
There are different types of ‘life’ insurance, and as life insurance brokers – the team at Excel Financial Solutions can guide you through what is most suited to your needs. Most people commonly think of life insurance offering a payout to their family upon death, but there are also policies like trauma cover and total permanent disability (TPD) insurance. In the event of a workplace injury or a car accident you will still need to be able to provide for your family and cover your bills. These other types of insurance can offer you peace of mind whether you have to take a temporary hiatus from work, or can no longer continue with your career in future.
Your insurance needs will be constantly changing.
The types of insurance coverage you will need will depend on your life stage and personal circumstances. Having excellent insurance is especially important for those who have young families, a large number of people depending on their income or high debt. If you are the breadwinner in your family, then you need to prepare for the worst to ensure your family can survive through a difficult time without you.
Trauma and TPD cover are a good place to start for younger individuals who may have taken on debt to buy an apartment, or want to be able to cover their bills should they get injured. For couples or those with a family – high quality life insurance cover is very important. The last thing people need to deal with during a stressful time is trying to pay the bills. Ask the Excel Financial Solutions team about what sort of cover will be right for you.
Did You Know?
Trauma cover is actually quite different from income protection insurance. Trauma cover is normally a lump sum payment and also covers a range of medical conditions like cancer, stroke and heart attack.
There are nearly 200 workplace deaths in Australia every year – and the vast majority of those are male workers. The most common causes are vehicle incidents or being hit by moving objects.
Workcover policies do cover occupational injury, however the claim process often takes a long time while an investigation takes place. For anyone with a priority on cash flow, relying on workcover is not a sound financial strategy.