IT’S NOT JUST LIFE INSURANCE
The duty of disclosure applies to all types of insurance.
Whether it’s your car, your house, your phone, or even your pet, you aren’t protected if you held back information that might be relevant.
If there’s a problem, find out up front, before you pay away all those premiums… rather than when it’s too late and you have a claim denied.
TYPES OF LIFE COVERLife Cover - pays nominated beneficiaries a fixed amount of money if you die.
Total and Permanent Disability (TPD) Cover - covers the costs of rehabilitation, debt repayments and the future cost of living if you are totally and permanently disabled.
Trauma Cover - provides cover if you are suffer a major illnesses or injuries that will make a significant impact on a your life, (e.g. cancer or a stroke).
Income Protection Cover- replaces the income lost through your inability to work due to injury or sickness.
CAN'T AFFORD IT?
If you can’t afford to increase your cover, consider changing your excess and using the money saved on the premium, to increase the sum insured.
You may also be able to get more cover for the same premium by shopping around.