Personal Insurances

Personal insurances help protect your journey as you build your wealth and work towards a comfortable retirement. They are there for when things to wrong such as being injured in an accident and unable to work for awhile. What happens to your family expenses such as your mortgage during this time? If you suffer an early death, how is your family taken care off?

Australia’s attitude and knowledge with personal insurances isn’t to a level experienced in other countries. As a result, Australia is a country that is underinsured which means that if something goes wrong, it is up to the family to use their existing assets to get by and depend on the public health system which may not always suit the family needing help.

Personal insurances can help in the following manner:

• Life insurance – this covers your family in the even of death. A lump sum payment is made to your spouse to cover the mortgage and other expenses such as living costs, education costs etc.
• Total and Permanent Disability – this will cover you in the event you are permanently disabled or become ill from which you will most likely not work again. Again, a lump sum payment is made to your family to cover major expenses including your mortgage as well as the extra medical costs,
• Critical Illness – suffering a critical illness such as a heart condition, cancers, strokes etc can leave you in hospital and out of work for a long time. Critical illness cover will give you a lump sum payment if you happen to suffer one of these conditions,
• Income Protection – this provides you cover should you be injured or become ill and cannot work for a period. Income protection covers approximately 70% of your income usually paid monthly and is intended to get you by as you recover.

Where you have a requirement to have some insurance cover in place, Chris Galanis will work with you to determine what covers you may need and for what amounts you need to be covered for.

Chris will also recommend a suitable provider for your insurances and help throughout the application process. If ever you need to call on your insurance in the future, Chris will also take care of the claim process.