Life & Disability Insurance: Protecting You and Your Loved Ones:

 Can you put a price on the love you have for your family? Of course not. The life and wellbeing of your family is priceless.

Unfortunately, though, there is a price to pay when someone passes. Funeral Costs, Mortgage payments, School Fees and time away from work for those who need to grieve.

And what happens when someone is injured or falls ill? Bills don’t stop, while income can dry up. Meanwhile, increased medical expenses start to pile up while partners take time off work to support their spouse.

Dealing with life’s tragedies is a hard enough, without adding unnecessary financial stress in an hour of need. That is why we recommend our clients consider life & disability insurance.

What is Life & Disability Insurance?

When we talk about life & disability insurances we are talking about those insurances that provide you with financial support should you or your loved ones pass away or become incapacitated due to illness or injury.

For a monthly premium, our clients are able to reduce the financial risk of an unexpected event, allowing them to stay on track towards their financial future. At Ark Financial Planning, we take a positive outlook on our client’s future, always planning for the best outcome, but being prepared for the worst.

Which types of insurance can you recommend?

At Ark Financial Planning, we deal in a number of insurances, including;

  • Life Insurance
  • Total & Permanent Disability Insurance
  • Trauma Insurance
  • Income Protection

Life Insurance

Life insurance pays a lump sum benefit to your chosen beneficiary, in the event of you passing. It is helpful in helping a family maintain a standard of living they were used to, while allowing for the surviving family members the necessary time to grieve. Life insurance can generally be held within your superannuation fund, meaning no out of pocket expense to you.

Total & Permanent Disability (TPD) Insurance

TPD insurance is a lump sum that can be paid out to you if it is unlikely you are going to return to work again. TPD insurance helps you to meet living expenses, pay for housing costs and medical bills as well as make adjustments to your life, following a serious injury or illness. Like life insurance, it can be held in your super account.

Trauma Insurance

Trauma insurance, also known as critical illness insurance, can assist in large medical expenses that occur as a result of major illness such as heart attack, cancer or stroke. Trauma insurance is paid as a lump sum and can also allow the beneficiary time off work to recover or to make lifestyle changes to reduce the chance of recurrence.

Income Protection

Income Protection can be thought of as purchased sick leave. It can be purchased by both employees and those who are self-employed. Importantly though, income protection can have a benefit up until age 65, meaning that if you are no longer able to do your job as a result of illness or injury, you may be able to claim up to 75% of your income until you turn 65.

Because our ability to earn an income is the driving force behind our wealth accumulation, it makes sense to insure the thing that generates your income – You!

How do I get Insurance?

Life & Disability insurances can be complicated to understand, especially if you have not held them before.

At Ark Financial Planning, we believe in educating our clients about the types of insurances and explaining how they can be used to protect them. Our process includes an initial meet and greet to discuss what is needed.

From there we work with our clients to identify the right policies for the right price. We are able to recommend a wide number of reputable insurance companies, so you know you are receiving advice that has your best interests at the core.

Contact us today for an obligation free discussion about how we can help you.