It’s important to insure our valuable possessions, like our house, contents and car. Yet we often neglect what really counts – to insure ourselves and our loved ones. Alliance Wealth offers you peace of mind coverage, that in the unfortunate event of your death, disability or sickness, you and your family don’t also suffer financial pressure at an already difficult time.
Income Protection can help you cope financially should accident or sickness prevent you from earning an income. This is arguably the most important insurance you can buy. If your income stops, generally everything else does too.
You can cover yourself for up to 75% of your income and coverage is 24/7 – not just whilst you are at work. Income Protection Insurance pays a replacement income stream. This will allow you to maintain your family’s lifestyle if a sickness and/or injury occurs. It also provides the ability to continue to pay your mortgage/rent, bills, ongoing normal expenses. This coverage may also provide your partner (if applicable) the peace of mind of not being compelled to increase their working hours to replace the lost income.
Total Permanent Disability Insurance or TPD Insurance can assist you cope financially when an individual becomes totally disabled and is unable to return to work. The benefit of TPD Insurance is that it pays a lump sum which can be used to pay for disability-related costs including rehabilitation. It can cover changes to your lifestyle. For example, to refit your home to provide better access for things like wheelchairs. TPD payments may enable your partner to reduce their working hours to look after you, or alternatively, to provide an individual carer, pay off your mortgage or any other debts you may have and provide a reserve to use as an income replacement.
Trauma Insurance can help you cope financially from the impact of a critical illness event. Critical illness events include conditions like cancer, heart attack, stroke, coronary bypass surgery and blindness. It can be taken as a stand-alone product, or in conjunction with Life or TPD Insurance.
Trauma Insurance pays a lump sum, which you can use to pay for expensive recovery costs including rehabilitation. It can support any changes to your lifestyle as a result of your injury such as to refit your home to better accomodate your needs. It may also be used to enable your partner to reduce their working hours so they can look after you or, alternatively, to employ a qualified carer. Trauma Insurance may also pay off your mortgage or cover the cost of extra child care or housekeeping.
Key Person insurance covers the key personnel/parties within a business that would be irreplaceable for a period of time, should death, total and permanent disability and trauma occur. The business can insure against this loss to assist in reducing the financial impact on the business.
Share Purchase Insurance would generally cover three insurable events; death, total and permanent disability and trauma. It enables your business to fund the share/equity component of paying out the shareholder/beneficiaries should one of these events occur. The surviving/remaining partners can then fund the exiting partners’ equity by using life insurance, rather than the requirement to borrow extra funds from a bank, when the business may not be able to afford to.
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