Personal Insurance

Would it surprise you to know that most people will need to make a claim on their Life, TPD or Trauma Insurance policies during their lifetime?

Australian’s are very under-insured. Many people fall into the “It will never happen to me” category. However, having adequate insurance is vital to ensuring the financial stability of both yourself and your loved ones in the event of the unthinkable.

No one can predict accident, illness or sudden death. However, provisions can be made as a financial contingency in case something happens.

If something were to happen to you tomorrow, would you be able to:

  • Eliminate all your liabilities?
  • Provide an alternative source of income for your family?
  • Have the same lifestyle before the incident?
  • Cover your children’s education expenses?

PlanPlus can sit down with you and identify where your risks lie and come up with an insurance plan to suit your needs.

While insurance doesn’t remove the risk of something going wrong, it provides a level of financial security to you and your family that is too valuable for it to be forgotten or pushed aside.


Case Study

It Won’t Happen to Me

Stan (42) and Maggie (40) are living the perfect life with their two children. Living comfortably on Stan’s $120,000 salary, Maggie runs the house as a stay-at-home mum with plans to return to work when the children reach school age.

The two decided to see a Financial Adviser about their Super. During this discussion, the Adviser noticed a gap in their insurances. He recommended that they insure Maggie’s life for the value of the mortgage plus a lump sum to provide for childcare and school fees. The accepted his recommendation.

18 months later, Maggie was diagnosed with a brain tumor.

As her condition worsened, the couple used the payout from Maggie’s Trauma inmsurance to substantially reduce the balance of their mortgage, allowing Stan to take time off work to spend time with his family.

6 months later, Maggie passed away leaving her family behind.

Stan used Maggie’s Term Life Insurance to finish paying off their mortgage, relieving the financial pressure from the family. He used the rest of the funds to establish trust accounts for his children.

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