Asset & Lifestyle Protection
It is crucial to consider how to maintain your family's lifestyle and financial well-being in the case of you or your partner's death, illness or disablement.
AAS Risk Specialist can provide you with advice and guidance on the range of insurance offerings that are available to families, individuals and businesses.
Types of insurance to fully protect your family's lifestyle may include:
- Life insurance - The purpose of Life insurance is to provide a lump sum benefit to a beneficiary, third party or an estate in event of your death. This allows you to provide for the financial needs of your family in theevent of death. In some cases, your benefit may be paid to you in advance should you be diagnosed as terminally ill.
- Total and Permanent Disablement (TPD) - Provides you with a lump sum payment in the event you become totally and permanently disabled. The key purpose of this insurance is to help pay for medical expenses and potential renovation costs due to the changes in your lifestyle. It can also be used for lump sum funding to generate income for ongoing living expenses.
- Trauma insurance - Also known as Crisis insurance, it provides you with a lump sum payment in the event that you are diagnosed with one of a specified range of critical illnesses or injuries. Similar to TPD insurance, the purpose of this type of insurance is to help pay medical expenses and supplement your income whilst you are recovering. In addition, it can be used to provide you with a regular income to meet your ongoing living expenses.
- Children Trauma insurance - Provides financial assistance for parents when children are sick, disabled or suffer a traumatic event.
- Income Protection - Income protection is an important aspect of planning, as it will provide you with replacement income in the event of a short or longer term disability. Income Protection provides you with a regular source of income should you be unable to work for a period due to sickness or injury. You can generally insure for up to 75% of your earned income.