Insurance to protect your family’s future
Personal insurance can help protect one of your family’s greatest assets … your earning capacity. At Westlawn, our qualified Senior Insurance Specialist can work with you to ensure that you and your family are protected financially should the unexpected happen. With access to more than 10 leading insurance providers, we take into account your family’s situation to recommend appropriate personal insurance.
Types of personal insurance
Pays a lump sum benefit to your beneficiaries if you die. Generally, a life insurance policy will also pay your benefit to you if you are diagnosed with a terminal illness, providing an important source of income that will assist with the costs of medical treatment and care.
In addition, Accidental Death insurance can provide an extra lump sum payment if you die as a result of an accident.
Provides you with a lump sum payment if you suffer a specified permanent disability that, depending on your policy, prevents you from returning to work in either your own occupation, or any occupation.
Generally, you can include Total and Permanent Disability as part of your life insurance policy or as a separate policy. You may also have Total and Permanent Disability insurance included within your superannuation.
Makes regular monthly payments of up to 75% of your regular earnings while you are unable to work due to illness or injury up to age 65. Premiums are generally tax deductible.
Pays a lump sum benefit of up to $2 million should you suffer a specified critical illness such as heart attack, stroke, coma, blindness, deafness or loss of speech, malignant cancer, Multiple Sclerosis or any other critical condition specified in the policy.
Pays certain business expenses for up to 12 months while you’re unable to operate your business due to illness or injury.
Business expenses that may be covered include rent or loan repayments on business premises, property rates, taxes and levies, vehicle and equipment leases, utilities, salaries and wages and accounting fees.
Insurance options, incorporating life, disability and trauma should be considered for an effective business succession plan. Key Person insurance protects the business from the unexpected loss of a key person due to death, disability or trauma. Buy Sell insurance protects all business owners and their estates from the impact of death, disability or trauma suffered by a business owner. Loan guarantor insurance repays loans guaranteed by a business owner or director in the event of their death, disability or trauma.
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Keeping your personal insurance up to date
Personal insurance is about protecting yourself and your family, or your business, from a loss which you wouldn’t otherwise be able to financially recover from. However, insurance is not simply a set-and-forget purchase. Although insurance does provide a level of peace of mind, changes often happen in your life that need to be taken into account if you want to properly protect what’s important. Many Australians who don’t properly manage their personal insurance find themselves in a situation where they are underinsured – but don’t know it until it’s too late.
When purchasing or renewing existing personal insurance consider any changes that may have occurred in your circumstances. Changes may include:
- Having a baby
- Purchasing a new house or investment property
- Marriage separation
- Receiving an inheritance
- New occupation or salary.
Why get Westlawn personal insurance?
Fully qualified personal insurance specialist
Access to more than 8 leading insurance providers
Advice to ensure you and your family are properly protected
Ongoing support when you need to make a claim
Advice on personal insurance from a local name you can trust