What Kind of Insurance Do I Need?
Life Insurance: Life Insurance is insurance that pays an agreed upon lump sum to the people you choose if you passing away. If you are the breadwinner of your family, or you want to make sure your loved ones are supported in the event of your passing, some form of life insurance is a very good idea. Unless you have an extremely significant amount of savings to cover all of your debt and provide for your dependants as long as they will require, we believe that you should always have a life insurance policy in place. Life insurance, depending on age and physical health, is generally inexpensive and with our help, you could have even better deals, making a life insurance policy extremely useful without being a burden on your finances.
Income Protection and Disability Insurance: Income Protection is designed to pay you an amount reflective of your monthly income if you are rendered unable to work through illness or injury. We can sometimes operate under assumptions that severe illness will result in recovery or in a relatively quick passing away. Unfortunately, that is most often not the case. The biggest proportion of cases of serious illness (heart attack, strokes, cancer etc) result in a protracted period of physical disablement, during which time you will be unable to work and maintain the income necessary to cover your expenses - which will not be on hold until you get better! This is why income protection can be a good option if your family depends on your income to maintain their way of life. With the right cover, you can have the peace of mind that your income will be maintained in the event that accident or illness strikes.
Trauma/Critical Illness Insurance: Trauma Insurance is a form of cover which pays out a full or partial lump sum (which is agreed upon when taking out the policy) upon diagnosis of a serious health condition. This is different from income protection in that you are paid the full amount on your policy immediately when a diagnosis is confirmed (or a partial payment for numerous less serious conditions or procedures). This can allow you more flexibility on paying debt, providing capital for your business or supporting your family. Different people have different needs, and depending on your situation a trauma policy could be the best bet. We advise that if you are unsure, contact our professional team. We specialise in looking at your unique financial situation and determining whether your situation would best be suited to trauma insurance, income protection or a combination of both.
Key Person Insurance: If you run a business and your business prosperity relies on several key employees or directors, key person insurance is a very good idea. It will provide compensation to your business for their loss if they are disabled through illness or injury and support your business financially until an adequate replacement is found and the business is back on its feet. In some instances, proper key person insurance can be the difference between a business surviving or having to shut down.
Insurance can sometimes seem confusing and daunting, but it doesn't have to be. If you are unsure which type of cover is best for your situation, we can help with our completely free and no obligation insurance advice. Simply fill out the form on this page and one of our professional team can be in contact whenever is convenient for you.
I Can't Afford Every Type Of Insurance - Which Ones Are Most Important?
Keep in mind that many insurers that we deal with offer additional discounts for bundled insurance policies, so even if you think the cost of different insurances could be prohibitive, you could be surprised at the deals we can provide you.
What Sort of Insurance Can You Offer?
- Life Insurance
- Medical/Health Insurance and Group Medical Insurance for Businesses.
- Trauma Insurance
- Income Protection and Redundancy Cover
- Mortgage Protection Insurance
- Key Person Insurance Cover
- Total Permanent Disablement Insurance
Spratt Financial Services can also be your link to a full range of fire and general insurance, including home, contents, vehicle insurance, business stock/vehicle/building insurance, travel insurance and liability cover.
Our Insurance Service goes beyond securing you the best cover at the lowest prices. We also provide full claims management, regular reviews to make sure you are always getting the best deal and a professional support staff on hand at all times to help you with anything you may need.
Can You Help Me Save Money on My Insurance?
Are There Any Other Options To Save Money On My Insurance?
With almost all forms of insurance there are more limited options and conditions that can be applied that will result in lower premiums. Taking the time to plan out which features you need and which you don't could result in higher savings, and we can help anytime making sure those decisions are the right ones for you.
Health Insurance: Which Type Of Health Cover Is Best?
Health Insurance: Are There Alternatives to Health Insurance?
Health Insurance: What is an Excess and Should I Add One?
Trauma Insurance: Which Medical Conditions will Allow Me To Claim?
Cancer (including malignant tumors), Angioplasty, Aortic surgery, Cardiomyopathy, Coronary artery bypass surgery, Heart attacks, Cardiac Arrest, Alzheimer's Disease, Coma, Dementia, Encephalitis, Major head trauma, Meningitis, Motor neurone disease, Multiple sclerosis, Muscular dystrophy, Stroke, Paralysis and loss of functionality, loss of hearing, loss of sight, loss of speech, loss of use of limbs, advanced diabetes, liver failure, lung disease, renal failure, HIV, major burns, major transplant surgery.
If you're unsure what these conditions entail or if you qualify, you can ask us anytime and we'll be happy to help.
Which Insurer Provides The Best Insurance Policy?
What If I Need To Make A Claim?
How Important is my Health?
Can You Explain Insurance Jargon and Terminology to Me?
Will My Insurance Premiums Increase Over Time?
- Increased risk to the insurer as we age.
- New medical technology (more costly to provide treatment).
- An aging population (with higher average claims amounts).
- Rising currency inflation.
- Rising medical inflation (increasing consultation, treatment and equipment costs).
I'm Applying For Insurance - Do I Need To Remember Details Of My Medical History?
How Do I Get Started?
For more information on how Spratt Financial's team of insurance brokers can assist with your insurance, you can use our contact form to the right of this blog. You can also call us any time at 09 307 8200, or find our individual advisers contact details through the Meet the Team Page.