There’s more than one way to protect yourself with life insurance. Here we explore the 4 main types of cover, how they can help and how much cover you may need.
Life cover
- Pays a lump sum to your chosen beneficiaries
- Allows them to pay off your debt
- Covers the living expenses
- Covers the funeral expenses
Total Permanent Disability (TPD)
- Pays a lump sum to you if an illness or injury leaves you permanently disabled
- Allows you to pay off your debt
- Covers the living expenses
- Covers the medical expenses
Trauma
- Pays you a lump sum in the event of serious illness
- Allows you to pay off your debt
- Covers the living expenses
- Covers the medical expenses
Income protection
- Pays you a monthly monthly income if you become temporarily ill or injured
- Covers up to 70% of income
