Personal Risk Insurance

Did you know?

60% of Australian families with dependants will run out of money within 12 months if the main income earner dies?

Source: TNS Research, ‘Investigating the Issue of Underinsurance in Australia’, August 2005.

Ultimately, this is the most important strategy to ensure you get it right.

Your Total Wealth Management adviser can minimise the confusion and complexity that often come with acquiring insurance by considering your individual circumstances to find the most appropriate combination of policies and strategies to suit you and your family’s needs.

Many of us believe that if we never have to make a claim we have too much cover, but if we do have to make a claim the cover is not enough. Therefore it’s important to discuss any of these concerns with your adviser.

Strategies we may consider for you are:

  • Self insure (having sufficient assets/cash available to repay any debt and fund your living expenses up to and throughout retirement)
  • Protecting your greatest asset – your income
  • Eliminate debt on death, disability or illness
  • Maintain your families living standards
  • Protect the homemaker
  • Treat your beneficiaries equitably
  • Protect your retirement plans
  • Purchase Life and TPD insurance tax-effectively
  • Reduce the long-term cost of your insurance
  • Business Insurance
  • Make sure your adult children have adequate insurance should something happen to them