You don't have any financial dependents

If something should happen to you, you currently don’t have insurance or have some only in your employer’s superannuation plan.

Which policies should I be looking at?

Trauma insurance

This form of insurance will cover you on diagnosis of a critical illness, private health cover may not cover all medical costs or you may not qualify for income protection. A lump sum payment such as Trauma insurance could provide you with financial assistance when you need it most.

Income protection

When you speak to most people, they would say that their income is their single greatest financial asset, however this asset becomes even more significant when you only have your own income to rely on. Ensuring the right policy is in place for you will allow you to have peace of mind that if a sickness or disability prevented you from earning an income then you will have a regular income still coming in.

Total & Permanent Disablement

While income protection pays a monthly benefit, it only covers 75% of your income leaving you short in the event of a major disability occuring that prevented you from working again. A disability such as this could lead to home modifications being required or full time care.

Term Life Insurance

Providing a lump sum on death may not be as important as the other forms of insurance to most people without financial dependents. Some people choose to ensure debts aren't passed on to their family or they wish to leave a lump sum to one of their family members.