Financial Protection
Close Financial Group can provide you with accurate advice for all of your personal or business insurance needs; can you afford NOT to be covered?
LIFE INSURANCE
Life insurance will provide financial security for your loved ones in the form of a lump sum payment in the event of your death or you being diagnosed with a terminal illness.
Many forms of cancer are becoming increasingly more common within our community. Diabetes, heart disease, motor vehicle accidents, brain injuries, osteoarthritis and kidney disease are some of the more common types of terminal illnesses or fatal injuries that are frequently encountered.
Serious personal injuries can take place in many unexpected ways such as the workplace, driving, around the home, on the sporting field or even in the most unusual places.
Most superannuation funds provide you with the option of taking out life insurance within the fund; Close Financial Group can advise you of the best strategy that will maximise your retirement funds.
Some things to consider are:
- Amount still owing on mortgage?
- How many dependants…..spouse and children?
- Any existing personal loans?
- Amount owing on credit card?
- Could your family adequately cover all medical expenses?
- Adequate cash in savings accounts?
- Assets that can be readily converted into cash such as investments, shares or superannuation policy?
For the cost of a few of dollars per day you can provide your loved ones with some financial certainty and security if you pass away.
TOTAL AND PERMANENT DISABILITY (TPD) INSURANCE
Total and permanent disability insurance will provide you with a lump sum payment if you suffer from a serious illness or injury that leaves you totally and permanently disabled. This payment is generally used to eliminate or reduce any personal debts, fund specialised medical treatments and equip you to make the necessary lifestyle adjustments.
The amount that you insure yourself for in the event of being unable to work will vary with the individual. You will need to consider your current financial commitments such as current outstanding mortgage repayments, other loan repayments; medical expenses and how much it will cost to you maintain your existing lifestyle for yourself and your family.
The cost of TPD insurance will vary with factors such as your age, type of occupation, family medical history and being a smoker/non smoker.
TRAUMA INSURANCE
Trauma insurance will provide you with a lump sum payment when you suffer from a serious medical condition such as cancer, stroke, a heart attack or heart bypass. Each insurance company has its own criteria when determining the severity of a medical condition. We can advise you of how best to protect yourself and your family against the unexpected.
INCOME PROTECTION
Income protection will pay you a monthly sum of up to seventy five percent of your annual salary if you are unable to work if you are totally or partially disabled as a result of injury or illness.
In most cases you will be able to choose a waiting period from between fourteen days and two years before receiving your first monthly payment.
The amount that you insure yourself for in case of being unable to work varies considerably with the individual. You will need to consider your mortgage repayments, other loan repayments, family medical history, medical expenses and how much it will cost to maintain the lifestyle that you and your family are accustomed to.
BUSINESS EXPENSES INSURANCE
Business expense insurance will pay you a monthly sum to cover your fixed daily business expenses if you suffer from an injury or serious illness which prevents you from working. These expenses may include loan repayments, rent, staff wages and numerous other outgoings.
BUSINESS INSURANCE
Comprehensive Business Insurance is absolutely essential for any business; regardless of the industry that you are in. Many business owners make the fatal mistake of forgetting to update their policies as their business expands; failing to increase the value of their building, stock and capital equipment.
You will need to protect your business from losses occurred through a number of possible different scenarios such as:
- Theft
- Fire
- Storm
- Flooding
- Malicious damage
- Public or product liability
- Machinery/equipment breakdown
Calculate the real costs of having a serious interruption or closure of your business for one week, one month or several months. Your fixed costs such as wages, loan repayments, rent and overdue accounts still keep coming in. Estimate how much it would cost to replace stock, building fittings and equipment that might be damaged.
Estimate the profit lost for the duration of the closure. What would the long term cost be if some of your existing clientele were to take their business permanently somewhere else? Can you really afford not to have your business properly insured? Close Financial Group are insurance specialists who will advise you of a business policy that will adequately protect your business.
Close Financial Group has the expertise to provide you with an insurance policy that best suits your needs.