In many clients we see, ones ongoing ability to earn an Income is their greatest financial asset. Income enables the mortgage to be paid, daily living expenses to be met, and allows the lifestyle that we enjoy.
An individual earning $80,000 per annum will earn more than $2.6 million over the next 20 years (allowing for inflation). This income, which is usually an individuals greatest assest, needs to be protected.
Income Protection Insurance replaces up to 75% of your annual income in the event you are unable to work due to illness or injury.
Your policy can be personalised and tailored to meet your needs. Waiting Periods and Benefit Periods can be varied based on your liquidity and ongoing living requirements.
If you or your family rely on your Income, this product will offer security and certainty.
Premiums are fully tax deductible and can be paid monthly, quarterly or annually.
Life Insurance pays a tax free lump sum in the event of your death or the diagnosis of a terminal illness. With Life Insurance, your loved ones are protected financially for the loss of your life.
Life Insurance is often required to;
Removing the family’s financial stress via a simple and cost effective Life Insurance Policy will ensure that your family does not have to suffer the further pain of financial burden during a time of grief.
Life Insurance policies can be established personally, or through a business (see Ownership Insurance). Policies can be established outside super or tax effectively inside super dependant on your circumstances.
CRITICAL ILLNESS INSURANCE
Critical Illness Cover provides a tax free lump sum payment on diagnosis of a major illness. At Aurum Planning, we see more value in this type of cover than any other Insurance Product available.
Major Illness Covered include;
Statistically a large portion of the population will suffer a Critical Illness during their work life and a TAX FREE LUMP SUM payment on diagnosis can be critical to fund;
Based on these statistics and our experience in the industry, we believe Critical Illness Cover is a must in every Insurance Portfolio.
TOTAL & PERMANENT DISABILITY (TPD)
Total and Permanent Disability (TPD) Insurance provides a lump sum payment in the event of total and permanent disablement.
TPD is often attached to a Life Policy and used to top up Income Protection, cover medical expenses and necessary life style changes, and can assist in removing debt.