Life Insurance

At Consortium Private Wealth, we believe in not only having the right types of Life Insurance protection, but also having the right levels of cover to protect your family, your life style and your assets.

To ensure you have an insurance package that is personalised to your unique situation, we recommend you take advantage of our Free Risk Analysis. Get in touch with us to find out more.

There are four main types of life insurance that you can apply for such as life cover which pays a lump sum in the event of your death or diagnosis of a terminal illness, life cover is often coupled with total and permanent disability insurance which pays a lump sum if you become disabled and unable to ever work again.

Trauma insurance which is often called a critical illness insurance pays a lump sum on the diagnosis or occurrence of one of a list of specific illnesses such as heart attack, cancer, or stroke. This lump sum can be utilised to cover the treatment and recovery costs as well as other commitments such as debt commitments.

And lastly income protection can provide replacement income of up to 75% of your current income if you are unable to work due to illness or injury. Income protection policies can vary greatly in terms of cost depending on your occupation, the selected waiting period before your monthly payment begins and the benefit payment period which can continue up to age 70.

While not the most positive topic to cover life insurance is used to protect your family and assets in the event of death or disability by paying out a lump sum to reduce debts, or create an income stream to support yourself and your family particularly while children are younger.