The Human Face of Underinsurance

Steve GreatrexBlogLeave a Comment

This is the story of Emma Bright from Adelaide, who just a short time ago, had the world at her feet, before tragically losing her husband in a motorcycle accident, and being left to raise their young son alone.

Although Emma and her husband had some life cover in place it wasn’t enough.

With the right insurance in place, Emma would be free to stay home, and care for her son. She would have the flexibility to decide if and when she returned to the workforce. She would be able to focus on moving forward – as much as one can – from a terrible tragedy.

Instead, she is worried about putting food on the table and keeping the electricity turned on, and being able to afford basics like car insurance, fuel costs and her mobile phone bill. These are everyday costs of living that don’t go away just because we’ve experienced a loss. At the moment, this means Emma is reliant on the meagre benefits that Centrelink can provide, just to get through from day-to-day.

Many people believe they can’t afford life insurance.  But we can offer most covers funded via your superannuation.  Through super you can have Life (or Death) cover, Total and Permanent Disability Cover (or TPD) and also Income Protection, which can cover you with a monthly pay check up to age 70.

You can also have Critical Illness or Trauma cover, which provides a Lump Sum in the event of a Critical Illness or Trauma.  This is not available via super.

There are some benefits to paying for covers outside of super – for example, income protection is a tax deduction.  We can also provide you with a mix of covers, some funded via super and the remaining covers funded outside of super.  Also we can offer you level premiums, which means your premiums won’t rise excessively with age.

If you would like to know more, call us on 8274 3744.

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