Insurance

Sometimes we need reminding what our most valuable asset really is. Not just to us, but also that of those who are most important to us – our families. You are their most valuable asset, particularly your capacity to continue to earn an ongoing income. Do you have a mortgage, debts or a lifestyle dependant on your income, and is your family also relying on you for their upkeep and support? If the answer is yes, then the importance of protecting your lifestyle should not be ignored. Professional Investment Services offers advice and ways to protect you, your family and assets in the event of illness or accident.

Risk Insurance

Risk is something that we face everyday. Every time we get up in the morning we face the risk of accident or illness. When investing we face the risk of losing some of our money. What do we do about these risks we face?

We can take steps to either aviod the risk, but thats not really practical, or we can reduce the impact of the risk by transferring the financial risk to someone else.

Risk Insurance cant reduce the chance of an accident or illness but it can reduce the financial impact that the illness or injury can have on you, it’s all about managing the result.

Imagine if tomorrow you received a bill for $35,000. This financial burden would be a challenge to many of us. Unfortunately thats the same impact if your salary dropped by $35,000 due to accident or illnes. The impact could be financially crippling.

It is said that there are only two sources of money, either a person at work or money at work. Most of us have the ability to work for a living. The ability to work ceases on death, total or temporary disablement, on the occurance of a critical illness or retirement. This has serious consequences, especially if others are dependent on that income. Risk Insurance is specially designed to provide money or replacement income, when the ability to earn that income ceases so your money can be put to work to provide for you and your family’s future.

Term Life Insurance

Term Life Insurance provides a lump sum of money on the death of the life insured. The lump sum of money should be sufficient to cover the loss of your income for the period that they would be dependent on you. Unfortunately we never know what is around the corner. If you care about your family, don’t leave their futures to chance. Ensure you have adequate life insurance on the life of the major income earner and homemaker.

Total & Permanent Disability Insurance (TPD)

Becoming disabled and not being able to work will totally change your plans for the future … it can be more of a financial burden on a family than death. TPD Insurance can help with the cost of clearing debt, rehabilitatio etc, and creates the money at work to provide an ongoing income if you are unable to work again.

Critical Illness / Trauma Insurance

Millions of Australians sensibly insure themselves to provide for loved ones on their death. However, with improvements in modern medicine many people now survive serious medical conditions or accidents, but at what cost? Critical Illness / Trauma Insurance will provide a lump sum of money on the diagnosis of defined medical conditions or accidents to cover these costs eg. rehabilitation, medical, alteration of housing etc. It could also be used to help reduce the debt and maintain quality of life.

The chances of major illness striking you down are very real, no matter how young or healthy you are. One in every four women and one in every three men are likely to suffer some form of cancer during their lifetime. Stroke is the leading cause of long-term disability in adults and there is a one in two risk of having coronary heart disease for a 40 year old.

Income Protection Insurance

Most people don’t think twice about insuring personal property against the unlikely event of loss or damage, yet they often neglect to protect the very thing that enabled them to purchase the property … their income! The income that you earn supports your most important assets:

• You
• Your family
• Your business
• Your lifestyle

How would you be affected if you became disabled and were unable to earn an income? How would you cope if all 0f a sudden, as a result of sickness or injury, you were unable to work? And if it’s a long term sickness or injury,and you were unable to work for a very long time, maybe never, what would happen then? You may think “It will never happen to me”, but it happens to people just like you.

Unfortunately your bills wont stop just because your income does, which is why you protect your income against sickness and injury. In a sense it could be your financial lifeline, saving you from financial disaster when you need it most.

Business Expenses Insurance

If you have your own business or you are a partner in a business, your financial risks are greater if you are unable to work. Even though you are not working, fixed expenses keep rolling in.

Your business needs to continue if you are temporarily disabled and cannot work. Business Expenses Insurance will reimburse certain business expenses for the period you are totally disabled for up to 12 months.

Typically expenses covered include office rent/mortgage payments, property rates and taxes, equipment or vehicle lease costs, electricity, cleaning, depreciation, accounting costs and business insurance premiums.