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  Home (Building) and/or contents insurance

  Co-insurance clauses in Property related insurance contracts

  Subrogation

  Landlord (or Residential investor) insurance

  Motor vehicle insurance

  Business insurance

  Liability insurance

Term life policies usually have an option for inclusion of total and permanent disability insurance (TPD). TPD insurance, as the name suggests, provides cover when the insured is both totally disabled and permanently disabled. The cover pays a pre-agreed lump sum benefit to the policy holder who is generally the life insured. The lump sum benefits paid is often used to eliminate debts, pay for medical expenses or fund permanent lifestyle changes. For example, moving to a home or making changes to an existing home to ensure it is more accessible given the disability.

 

 

This form of insurance is not an insurance paid on death like term insurance. Rather, it is paid when a person is unable to continue in their work for a lengthy period of time due to some form of disability, injury, physical illness or mental illness.

It may also be referred to as Disability Income Insurance (DII), Temporary Disablement (TD) or Salary Continuance (SC).

The income protection benefit can be up to a maximum of 75% of the earned income of the insured and is generally paid monthly.

 

Trauma insurance, sometimes called crisis, critical illness or living insurance. Trauma insurance pays a lump sum benefit to the policy owner if they are diagnosed with a serious medical condition such as heart attack, stroke, cancer or kidney failure. Trauma insurance is designed to provide a benefit to help cover medical and rehabilitation costs, and to help with lifestyle and employment changes. A critical illness can be just as damaging to family finances as a death and more so if medical bills result from a long-lasting illness. With a trauma policy, a person is quite likely to recover from the medical condition and get on with their life again. The proceeds payable under the policy may be used to pay for various recuperation costs or for any other purpose the policy owner may decide upon.

 

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