Helping you with personal insurance in Ballarat
Reviewing your personal insurance
We all need to protect our future interests. Personal insurance is about helping to protect yourself, your family and your future financial stability should an event such as death, sickness or disability occur. It’s similar to your car or home and contents insurance – only often it is more important. At Mulcahy & Co, our financial advisers have all the expertise to help clients access their personal insurance needs in Ballarat.
During your lifetime, personal insurance policies can help with a diverse range of circumstances, including:
- Replace lost salary
- Help you plan for retirement but funding any income shortfall
- Provide an ongoing income to family members
- Pay off existing debts
- Enable any unexpected costs to be take care of
- Provide legacies to dependents
What types of personal insurance are available?
There are four types of personal insurances available:
- Life insurance
- Total and permanent disability (TPD)
- Trauma insurance
- Income protection
Please fill in the form below to receive a quotation on any or all of the insurance types listed.
Glossary of Terms
- Any occupation: You have been absent from active employment outlined in the product disclosure statement (PDS) or any other sickness or injury for a period of 3 consecutive months and during the period for which you must be absent from active employment, you have been unable to engage in (whether or not for reward) any occupation for which you are suited by education, training or experience and you have been under the regular treatment and following the advice of a medical practitioner.
- Business expenses insurance: Business expenses cover will pay you a monthly benefit to the lesser of 100% of your average business expenses or your sum insured on meeting the definition of total or partial disability. Insurable expenses are typically general in nature and exist at the time of claim.
- Income protection insurance: Income protection insurance helps when sickness or injury prevents you from working. It does so by providing two types of benefits. 1) a total disability benefit, this operates when you can not work at all. 2) a partial disability benefit, this operates when you can work, but only in a reduced capacity. There are important exclusions, limitations and benefit offsets that affect the cover and benefits provided under an income care policy.
- Own occupation: You have been absent from active employment outlined in the product disclosure statement (PDS) or any other sickness or injury for a period of 3 consecutive months and after the period for which you must be absent from active employment, you continue to be incapacitated to such an extent that you will be unlikely to engage in your own occupation ever again and you are under the regular treatment and following the advice of a medical practitioner.
- Term life insurance: Life care is death cover, which pays a lump sum when you die. Life care is payable for suicide following 12 months from the completion of the policy. Life care ceases generally on the policy anniversary date before your 99th birthday.
- Total and permanent disability insurance (TPD): TPD Cover provides a lump sum payment amount, which you are insured for, either the ‘any’ or ‘own’ occupation definition, upon satisfying the ‘absent from active employment’ definition.
- Trauma insurance: Trauma cover provides a lump sum on the occurrence of a specified medical condition or event. You will receive payment regardless of whether you are prevented from working. The lump sum we pay is up to the amount for which you are insured.