Protect the assets that matter the most
If anything should happen to you, how would those who depend on you manage financially?
How can you sensibly and cost-effectively protect the assets that matter most – your life, income potential and health? How much insurance would be enough?
At Wotherspoon Wealth, we can resolve these questions, and strike a balance between the certainty of an insurance premium against the potential damage done if a risk event actually happens to you.
Preserve your ability to look after your loved ones
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We don’t sell life insurance
We can arrange it, but we don’t mind whether you buy it.
We provide expert advice based on your individual circumstances.
By hiring a Wotherspoon independent advisor, you get an advocate that will help you buy the insurance that is right for you. We identify and explain your personal risks and implement commission-free insurance to best manage your own needs.
Rather than selling insurance products on which we earn a commission, we work on a fixed fee to provide advice about which product sold by external companies would best suit your circumstances.
No matter what, our advice is based on your needs, not any outside incentives.
Whether you take up $10m of life cover or $10 000, our fee stays the same.
You can be sure that you’re getting tailored advice about which personal insurance product will help to support you and your family in the event of accident, sickness or injury.
Types of personal insurance
Life cover pays a lump sum upon your death or diagnosis of terminal illness. It may allow your family to repay debts, provide adequate income for your dependents to pay for living expenses and child rearing costs and cover funeral and final legal costs.
Income Protection pays up to 75% of your income if you can’t work due to illness or injury. The monthly benefit will allow you to continue to pay your mortgage/rent and living expenses. The premiums for Income Protection are generally tax deductible.
Trauma insurance (also known as Critical Illness Insurance or Living Insurance) pays a lump sum benefit if you suffer from one of a range of specified medical conditions such as cancer, a heart condition or stroke. The benefit can be used to access the best medical treatment available and allow you some flexibility in determining when you return to work.
Total and Permanent Disablement (TPD) Insurance
TPD Insurance pays a lump sum benefit if you are unlikely to work again due to permanent disability. Benefits are often used to clear debts, invest and then draw down to replace lost income to cover daily living costs, pay for medical expenses and rehabilitation and/or pay for home modifications.
Business Expense Insurance
For self-employed persons, Business Expense insurance pays a monthly benefit to reimburse 100% of your fixed business expenses while you are unable to work due to illness or injury. The monthly benefit can be paid for up to 1 year and will allow you to keep your business running until you can return to work. Premiums for Business Expense insurance are generally tax deductible.