Personal Insurance
It seems strange that most people will insure their car and house but few will insure their most valuable asset – themselves.
What would happen if your income stopped because you become ill or disabled or, worst of all, you die? How will you, or your family, be able to pay the mortgage, school fees. medical bills and other day-to-day living expenses?
Your ability to earn income in the future is one of your most important and largest financial assets.
What is personal risk insurance?
There are following types of personal risk insurance:
- Life insurance (or death cover) – Pays a lump sum to your beneficiaries in the event of your death - While money can never replace the loss of a loved one, it’s comforting to know the people who depend on you will be financially assisted.
- Total and permanent disablement cover – Pays a lump sum if you’re no longer able to work due to total and permanent disablement – This additional money could be used to repay loans, help meet day to day living expenses, fund medical expenses, meet rehabilitation costs and pay for any modifications required to your home.
- Critical illness insurance / Health Insurance- Pays a lump sum in the event you suffer, certain specified medical conditions such as a serious heart attack, stroke, cancer, etc
How much personal risk insurance is enough?
How much cover you need depends on your own situation. You need to take account of your income and expenses, assets and debts, your family situation and age.
We can discuss these things with you and make a recommendation about the level and the types of cover that are right for you and your family.
How we can help
Our insurance specialist can review your personal circumstances and advise you on the amount and type of personal risk insurance you need.
We will also review any personal risk insurance you may already have and advise you whether it still meets your needs. We can also help you save money by finding you a cheaper premium rate on your existing insurances.
Contact us for a free initial consultation with one of our expert advisers or click here for an online insurance quote.
