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Category » Life insurance

There were 6 articles found in this category:

• Q1 What is TPD Insurance?

  Total and Permanent Disability (TPD) cover is often taken out in conjunction with a life insurance policy. It provides a lump sum payment in the event that you become totally and permanently disabled. There are often 2 definitions of TPD available under TPD policies. One is an ‘any occupat ... Read more

• Q2 What is automatic acceptance?

  Automatic acceptance is an arrangement entered into by superannuation funds that enables members to receive an automatic level of insurance cover within their superannuation fund if they wish, without the need to be underwritten. Automatic acceptance can apply to Life, Total and Permanent Disab ... Read more

• Q3 Can I hold all of my personal insurance within super?

  At this time, you are only able to take out Life, Total and Permanent Disability, and Total Salary Continuance/Income Protection cover within superannuation. Whilst these types of cover are sufficient to provide for many insurance needs, you generally do not have the opportunity to take out a T ... Read more

• Q4 How much life insurance should I have through my super account?

  There is no magic formula. It depends on your individual situation. The amount of cover you will need depends on whether you are the main income earner, how much debt you have and the level of income you need to replace if you die suddenly and have dependants. If you are young, single and have ... Read more

• Q5 Why would I need to purchase Trauma Insurance?

  Trauma Insurance fills a gap between Income Protection, Life and TPD Insurance and pays a lump sum benefit on the occurrence of a specified condition such as cancer, heart attack or stroke. It often provides a benefit when neither Income Protection nor TPD Insurance claims can be made. Unlike In ... Read more

• Q6 What are the benefits of buying life insurance cover through my super fund?

  Most superannuation funds offer Life and Total Permanent Disability Insurance, and some also offer Income Protection cover, though often with limited benefit periods. Super funds can often negotiate wholesale insurance rates, so premiums for life insurance are often lower than can otherwise be o ... Read more