Personal risk insurance is one aspect of wealth protection. Evolution Wealth Management will provide you with a detailed analysis of your insurance needs.
We will demonstrate how insurance can assist you in your long term wealth plan. Different types of insurance are available,
- Life Insurance If you die a lump sum amount of your choice goes to your estate. This can be extremely useful in paying off debt or invested to provide an income for your spouse, partner and or children.
- Total & Permanent Disability Insurance (TPD) Pays a lump sum on a permanent disability event. Once again this could be used to clear debts and most importantly in this situation ongoing medical expenses and care costs.
- Trauma/Critical Illness Insurance Provides a lump sum tax free amount (on diagnosis of a range of defined medical conditions) to cover medical costs, repay debts or invested to provide income.
- Income Protection Insurance Provides an income amount which replaces wages (up to 75% of income) upon an injury. Income protection insurance can be taken out to cover people to age 65. Most standard Income Protection insurance through superannuation covers people for only two years off work.