PERSONAL RISK INSURANCE
Protecting you and your loved ones, one policy at a time.
The goal of personal insurance is to provide financial protection and peace of mind to individuals and their families in the event of unexpected life events such as death, injury, property damage, or medical expenses. These types of insurance policies can include life insurance, health insurance, disability insurance, homeowners insurance, automobile insurance, and personal liability insurance, among others.
Ultimately, this is the most important financial strategy to ensure you get it right.
Your Total Wealth Management adviser can minimise the confusion and complexity that often come with acquiring insurance by considering your circumstances to find the most appropriate combination of policies and strategies to suit you and your family’s needs.
Quick Navigation
Common Types of Personal Insurance
We offer personalised and expert advice to help you find the most suitable insurance coverage for your specific needs. Our experienced advisors will work with you to understand your individual circumstances and financial goals, and then match you with the insurance products that best fit your needs. With a wide range of insurance options available, from life insurance to health insurance, car insurance, and more, we provide you with peace of mind knowing that you and your loved ones are protected. Trust Total Wealth to help you navigate the complex world of personal insurance and ensure that you have the right coverage to secure your financial future.
Life insurance
Provides financial protection to the policyholder’s beneficiaries in the event of their death.
Who may consider:
People with dependents or significant debts may consider purchasing a life insurance to provide financial support to close ones after their death. In fact, life insurance is important to cover children’s expenses and education, a mortgage, and other costs after a family member passes away. Pregnant women who are the breadwinners can also get life insurance, with a pre- or post-pregnancy check-up potentially leading to better rates.
Income protection insurance
Who may consider:
Anyone who relies on their income to support themselves and their family should consider income protection insurance, as it provides a safety net in the event of illness or injury.
Loan protection insurance
Provides coverage for outstanding loans in the event of death, disability, or job loss.
Who may consider:
People who have dependents who rely on their income to cover daily expenses and support themselves financially may consider loan protection insurance. This type of insurance can provide peace of mind knowing that if something unexpected happens, their family will not be left with the burden of repaying their loan. Individuals who have high levels of debt or have a significant loan obligation may also consider loan protection insurance. This can help ensure that their debt does not become a burden on their family in the event of their death or disability.
Health insurance
Who may consider:
Anyone who wants to have more control over their healthcare and reduce their out-of-pocket expenses including individuals who want to avoid the public hospital waiting list, people with pre-existing medical conditions, families with children, older adults, and self-employed individuals. Overall, personal health insurance can provide peace of mind and financial protection in the event of an unexpected illness or injury, and can help ensure that individuals have access to the medical care they need when they need it.
Still not sure?
Why Life Insurance Matters to You & Your Family
- Help protect your family financially
- Can make up for lost income
- You can help your loved one pay off debt
- Funeral expenses can be covered
- Help pay for future education expenses
Many of us believe that if we never have to make a claim we have too much cover, but if we do have to make a claim the cover is not enough. Therefore it’s important to discuss any of these concerns with your adviser.
Strategies We May Consider for You Are:
- Self-insure (having sufficient assets/cash available to repay any debt and fund your living expenses up to and throughout retirement)
- Protecting your greatest asset – your income
- Eliminate debt on death, disability or illness
- Maintain your family’s living standards
- Protect the homemaker
- Treat your beneficiaries equitably
- Protect your retirement plans
- Purchase Life and TPD insurance tax-effectively
- Reduce the long-term cost of your insurance
- Business Insurance
Make sure your adult children have adequate insurance should something happen to them
Protect Yourself and Your Loved Ones with Personal Risk Insurance
Personal risk insurance is a vital financial strategy that provides financial protection and peace of mind to individuals and their families in the event of unexpected life events such as death, injury, property damage, or medical expenses. Total Wealth Management’s experienced advisors work with you to understand your individual circumstances and financial goals and provide you with personalised and expert advice to find the most suitable insurance coverage for your specific needs. Contact Total Wealth Management to navigate the complex world of personal insurance and ensure that you have the right coverage to secure your financial future.