Personal Insurances

Income Protection

Income protection insurance is important, as you rely on your ability to earn an income every day. 

The main reasons why people don’t insure their income is because;

• They are unaware that they can
• They don’t understand what their income is worth
• It’s perceived to be expensive
• The likelihood of claiming it is low
• They think there is too much paperwork

Providing you with an income in the event of an illness or injury assists in meeting your mortgage payments as well as other major living costs. There are other benefits to insure your income.

• Premiums may be tax deductible
• Benefits can last two years, five years or even to the age of 65
• Can be held and funded via superannuation, however, restrictions apply.

Trauma or Critical Illness Cover

This type of cover is for when a major health event occurs, such as cancer, a stroke, heart condition etc. Trauma or critical illness cover provides a tax-free lump sum to assist in meeting medical costs and perhaps reducing some debts. Having insurance pay for necessary treatment and relief of debt obligations may result in less stress and an earlier recovery. 

Items to note regarding trauma and critical illness cover.

• It must be funded personally as it cannot be held in your superannuation

Total and Permanent Disability

Total and Permanent Disability (TPD) cover provides a lump sum payment to meet large cost outlays, such as rehabilitation or disability renovations to the home or car due to a change in physical needs which could occur from an unforeseen accident.

TPD cover can be held via your superannuation although proceeds can be taxable and some restrictions apply, the premiums are also tax-deductible to the fund.

Life Insurance 

Life insurance pays an amount to your beneficiaries or Estate to help with the cost of raising families, funeral expenses and paying down debt. 

Life insurance can be held via your superannuation although proceeds can be taxable to beneficiaries, and some restrictions apply, the premiums are also tax-deductible to the fund.

At Bellwether, our financial advisors base your personal insurance on a complete understanding of your personal circumstances, beliefs, and principles. We provide a personalised approach every time and we deliver on our promises and provide peace of mind by knowing you and your family are taken care of in any unforeseen event.