Which Insurance do I need?

Do you work for a living?

If you work to earn a living, either for yourself or someone else, you need income protection. Income protection will pay you a monthly benefit in the event that you are unable to work due to injury or illness. This benefit will allow you to continue paying the mortgage and all those bills whilst you're not earning an income.

Trauma and TPD (Total & Permanent Disability) insurances are also very important. Trauma insurance will pay you a lump sum if you suffer a specified trauma event such as heart attack, stroke or cancer. The lump sum can be used to access the best care in the world without having to worry about financial concerns. TPD insurance will pay out a lump sum in the event that you deemed unable to work ever again. The lump sum can be used to any purpose, including access to the best health care and rehabilitation, as well as paying for home and vehicle modifications that may be required in the event of being in a wheelchair or similar.

Do you have any debts and/or a family to support?

If you have any debts or have a family to support, life insurance is absolutely vital. The lump sum received upon your death or diagnosis of a terminal illness can be used to extinguish your debts, relieving your family of the debt burden. Life insurance can also provide a lump sum amount that can be used to support your family financially if you're no longer around.

Do you work for yourself?

Public liability is a must for anyone who works for themselves, and for many tradies it is mandatory to have such cover. Public liability will cover you in the event that someone tries to take action against you for any injury or loss they have suffered.

Do you have valuable tools of trade? Tool insurance will protect you in the event that your tools are lost or stolen. This cover will help you get back to business as soon as possible if someone was to take your gear.

Does your business have key staff who contribute to your profits? Key person insurance allows you to ensure against the loss of a key person in your business due to injury, illness or death. The lump sum can be used to replace lost revenue and/or provide funds to hiring and training of a replacement.

There are many other type of insurance which may or may not be right for you. We strongly recommend that you speak with a qualified insurance expert in all cases. Call us today on 1800 744 482 to discuss your needs with an insurance expert.

Call us today on 1800 744 482 or get a free online quote

People who are self-employed, particularly in the manual trade professions, should definitely consider income protection insurance.

Most of these claims are related to musculoskeletal injuries.

This website is owned and operated by Equita Financial Services Pty Ltd. Equita Financial Services and its advisers are authorised representatives of Synchron - Australian Financial Services Licence Number 243313.

Advice on life insurance products including income protection, life insurance, TPD insurance and trauma insurance is provided under Synchron's licence. We are not authorised to provide personal advice on public liability and tool insurance, however we provide this service through our referral partner, Direct Insurance Brokers Pty Ltd.

Any information on this website should be seen as general advice only, as it does not take into account your personal circumstances. You should not act upon any information on this website without first consulting a qualified financial adviser, such as those employed by Equita Financial Services.