Life Insurance
Life insurance provides a lump sum payment in the event of your death. This payment can help your dependants cope financially. These funds can be used to reduce the financial burden on your loved ones by assisting them to pay off the mortgage or other debts, reimburse funeral costs, or pay for child care or schooling costs. If you are a business owner, life cover can also allow the financial obligations of the business to be met.
Total and Permanent Disability Insurance
TPD insurance provides a lump sum payment in the event that you are permanently disabled. Thus lump sum can be used to cover rehabilitation expenses, or to help you to maintain your lifestyle whilst paying the additional expenses that arise such as making alterations to your home to enable you to manage day to day tasks.
Income Protection
Income protection insurance will provide you with an income stream of up to 75% of your income to replace your earnings if you suffer a sickness or injury or are temporarily unable to work. This will assist you and your family to meet expenses and maintain your lifestyle until you are able to return to work.
Trauma Insurance
Trauma insurance provides a lump sum payment which can assist you and your family to cope financially in the event that you suffer a traumatic medical condition including conditions such as cancer, heart attack and stroke. This lump sum payment will be able to assist you to meet the medical costs associated with treatment or rehabilitation as well as assist you to make any lifestyle changes that may be necessary.
Business Expenses Insurance
Business expenses insurance provides business owners with a regular payment during an agreed period in the event that you are unable to work due to sickness or injury. This payment can help your business to cope financially with your inability to earn the usual business income because of sickness or injury.
Business Succession Planning
Can your business survive the death or disablement of a business partner? Business succession planning is the process whereby a deceased or disabled co-owners interest in a business is acquired by the remaining co-owners. Avery Gibson Financial Services in conjunction with your solicitor can ensure that you have the correct structures in place to ensure that the succession process occurs quickly, harmoniously and with minimum disruption to the running of the business.
Key Person Insurance
What would happen to your business if you lost a key person? Key person Insurance provides a lump sum payment to the business in the event of a key person becoming deceased, disabled or suffer from a serious trauma. Key person insurance may compensate for any adverse effects of having lost that person such as loss of productivity or profitability.
*TNS Research, "investigating the issue of Underinsurance in Australia", August 2005
^ Institute of Actuaries of Australia, 2007.
