What You Need To Know About Death Insurance

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What You Need To Know About Death Insurance

Jun 07, 2024
insurance personal protection

Understanding the necessity of death and total and permanent disability (TPD) insurance is vital, especially for individuals in high-risk occupations. Learn how these policies offer crucial financial protection and peace of mind.

Death Cover Explained

Death cover, also known as life insurance, provides financial support to your beneficiaries in the event of your unexpected passing. This lump sum payment can alleviate the financial burden on your loved ones during a challenging time. Additionally, some policies offer an early payout if diagnosed with a terminal illness, providing financial stability during such circumstances.

How TPD Insurance Works

Total and permanent disability insurance offers financial assistance if you become permanently disabled due to illness or injury. This coverage helps cover medical expenses, ongoing care costs, and necessary modifications to your home or vehicle. The claims process involves thorough assessments to confirm the permanence of your disability before receiving a lump sum payment.

Insurance Through Superannuation

Many Australians have death and TPD insurance through their super funds. However, it's crucial to review and ensure the coverage aligns with your needs. Seeking professional advice is essential, especially when dealing with TPD insurance within your super account, as it can have tax implications.

The Benefits of Professional Guidance

Navigating the complexities of death and TPD insurance requires expert advice. Consulting with professionals ensures your policies are tailored to your specific circumstances, providing comprehensive coverage and peace of mind for you and your loved ones.

While contemplating death and disability may be uncomfortable, having the right insurance coverage is essential for financial security. By understanding the benefits of death and TPD insurance and seeking professional guidance, individuals can safeguard their financial future and protect their loved ones in times of need.

If you have questions about death or TPD insurance - book a call with our qualified and experienced Life Sumo Team today.



This provides general educational information only. The content does not take into account your personal objectives, financial situation or needs. You should consider taking financial advice tailored to your personal circumstances. Life Sumo (Orion Enterprises (Cairns) Pty Ltd) has representatives that are authorised to provide personal financial advice.