Wealth Protection & Personal Risk Advice
The financial planning process is like a road map outlining the
steps that will take you from ‘where you are now’ to ‘where you
want to be’ at some point in the future. However, “what if”
something happens unexpectedly that detours you from your main
destination? Wealth protection covers the “what if” factor.
* What if you die or become permanently
- Will your family have the financial
resources to provide for themselves?
- Will they have the means to
maintain the mortgage repayments?
- Would they be forced to sell assets
or the family home?
* What if you are unable to work for an extended
period due to illness or injury?
- Can you maintain your lifestyle in
the absence of an income?
These are just some of the issues that many Australians will
have to face. It takes a lot of time and hard work to accumulate
wealth and that's why it's extremely important it's protected.
How do you protect yourself?
A properly prepared Wealth Protection Plan will address these
issues with strategies specific to your individual situation. Using
personal risk insurance products such as Life, Trauma, Income
Protection and Total & Permanent Disablement Insurance, a
personalised wealth protection plan will provide the best
strategies for your protection.
Some of these strategies include:
- Eliminating debt, such as mortgage, on death or disability
- Providing ongoing care for your family on the death of either
- Access to a lump sum of money in the event of serious injury or
critical illness to fund medical treatment
- Protecting your greatest asset – your income
Personal insurance products include:
- Life Insurance – Provides for payment of a lump sum
on Death or Terminal Illness.
It can help pay out a debt, leave funds for a family to live on,
meet day to day living expenses, meet funeral expenses, business
key person replacement and business buy-out.
- Total & Permanent Disablement Insurance (TPD) –
Provides a lump sum payment in the event that the insured person
becomes totally and permanently disabled.
It can help pay out a debt, provide money to maintain an
appropriate standard of living, cover medical costs, fund home
- Critical Illness (sometimes called Trauma) insurance
– Provides for payment of a lump sum benefit in the event of
diagnosis of one of the serious medical conditions defined in the
It can help pay out debt, fund medical expenses, the cost of
lifestyle changes, home renovations and a back-up income
- Income Protection Insurance (also known as Salary
Continuance) – Protects your ability to earn an income
should you suffer illness or injury - providing financial security
for you and your family.
You can insure up to 75% of your regular income including fringe
benefits, and premiums are usually tax deductible. Benefits will be
paid for so long as the insured is unable to work, up to the
expiration of the benefit period.
- Business Expenses Insurance – for self-employed
individuals, provides a reimbursement of certain regular business
expenses such as rent, utilities, lease costs etc, while the
insured person is temporarily unable to work due to illness or
Contact us today on (03) 9813-0133 to find out more about
Wealth Protection Insurance and how Pentad can help you achieve
your financial goals.