A guide to life insurance products

Most people are aware that life insurance can provide all-important financial relief for your loved ones should the need arise. However, not everyone is aware of the spectrum of life insurance products on the market.
Spread the Word
Listed Under

* Life Insurance

* Insurance

* Australia

Dec. 11, 2012 - PRLog -- Insurance providers understand that no two crises are the same and that each consequence can spark a different set of needs. That is why life insurance products usually involve distinct features and benefits and are tailored to provide relief from specific financial pressures. Before investing in a life insurance policy, it pays to familiarise yourself with the various products on the market. These are the key insurance options that may be worth your consideration.

Life insurance

One of the most common insurance offerings, life insurance typically involves a lump sum paid out to your family or beneficiaries upon your death or on the diagnosis of a terminal illness. Life insurance offers a crucial safety net for your family by allowing them to pay off mortgage debts, fund educational costs and maintain a high quality of life. Taking the financial impact of a tragedy out of the equation can allow your loved ones to focus on emotional recovery. See ANZ Life Insurance (http://www.anz.com.au/personal/insurance/life-insurance/) for options or www.lifewise.org.au for more information.

Trauma insurance

Trauma insurance is tailored to individuals suffering a critical illness. This product stipulates the payment of a lump sum on the occurrence of a list of illnesses including stroke, cancer or heart attack. Trauma insurance offers flexibility and choice by financially equipping you with the ability to devote time you would have spent working to your loved ones instead. It can also help fund your treatment and the rehabilitation process.

Income protection insurance

The ability to earn an income is one of your most important assets. However, illness and injury can compromise your earning capacity and create serious financial pressure. Income protection insurance can cover up to 75 per cent of your current income if a health emergency compromises your earning potential.

Accident insurance

It’s a sad reality that accidents can strike at any time. Accident insurance involves the payout of a lump sum for injury or death caused by an accident. This product can ease your family’s money burdens during an emotionally taxing time.

Funeral or final expenses insurance

Funerals are often accompanied by substantial and unseen costs. Final expenses insurance generally grants a small payout upon your death, enabling your family to pay for your funeral or cover credit cards and other minor debts.

Other life insurance products

Most insurance providers also offer a variety of customised life insurance products, ranging from total and permanent disability insurance to bill protector insurance, pet care and cover for your children.

Understanding the unique features and benefits of various life insurance products should be the first step before committing to a product that’s right for you. No matter what your individual priorities are, there’s sure to be an insurance offering designed with your needs in mind.
Email:***@onepath.com.au Email Verified
Tags:Life Insurance
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse

Like PRLog?
Click to Share