Statewide Financial Group Pty Ltd has a range of life insurance options to assist in your wealth creation and protection. We are also able to arrange any superannuation requirements for your business.
Life Insurance:
Life Insurance, also known as term insurance, covers your life and pays a lump sum on your death or diagnosis of illness. It's one of the easiest products to understand and it's usually the first one people think of. It may:
allow your family to repay debts including mortgage, personal loans, guarantees, credit cards etc
provide an adequate income for your dependants to pay for living expenses, school fees and child care etc
protect your business if a key person or principal dies; and
create a cash injection to the estate, which may prevent other assets being sold.
Trauma Insurance:
Trauma insurance is about protecting your lifestyle and providing you with choice. It provides a lump sum pay-out on the diagnosis, or occurrence, of one of a list of specific injuries and illnesses such as heart attack, cancer or stroke. It can:
pay out for unexpected medical costs
provide for lifestyle changes
provide for the potential need of professional care at home
repay large debts such as mortgage
allow you to make lifestyle changes, such as reducing work hours, by providing additional income
TPD:
Total Permanent Disablement is available as an optional attachment to Life Insurance policies. TPD pays a lump sum if you become totally and permanently disabled and therefore unable to work again. TPD is about ensuring that you retain as much quality of life as possible. It can:
provide funds to allow a family member to give up work to care for you, or alternatively, to fund other home care
allow you to repay debts including mortgage, personal loans, guarantees, credit cards etc
pay for any major renovations required to your home (for example to permit wheelchair access)
Income Replacement:
Income replacement insurance provides a monthly payment of up to 75% of your pre-tax income if you are unable to work due to Sickness or Injury. It can allow you to:
provide for yourself and your family;
continue to pay your mortgage, bills, credit cards and other debts; and
keep all your investment strategies in place
without income replacement, all the wealth you have created may be jeopardised.
