Personal Insurance

Income Protection

Almost everything in our society is geared to having a job and having an income. Job security is not a problem at the moment so we take having an income for granted. But would your income continue if you were unable to work because of sickness or accident?

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Term Life Insurance

Term Life Insurance provides a lump sum payment to your nominated beneficiaries, should your death occur during the term of the policy (subject to the terms of the policy).

Term Life Insurance pays a lump sum Benefit if the Insured Person dies or is diagnosed with a Terminal Illness which will most likely result in death within 12 months of being diagnosed. The benefit received can help meet funeral expenses, secure your family’s future through the creation of an estate, repay your mortgage and other debts, and protect your business or cover key business expenses.

An important aspect in planning for your retirement and building financial security is to ensure that you and your loved ones are protected against the unexpected.

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Total and Permanent Disability Insurance (TPD)

TPD can help to maintain a comfortable standard of living for yourself and help to maintain your family’s lifestyle in the event of your disablement. The definition and application of TPD varies from insurer to insurer. However, three general variations are applied. Naturally the more generous the benefit, the more expensive the cover.

The variations relate to the insured’s inability due to disability to perform:

• their usual occupation;
• an occupation for which they are qualified by reason of education, training and experience;
• any occupation.

Term Life Insurance & TPD provide a lump sum payment in the event of your death or disablement. A calculation of your insurance needs may include:

• providing your surviving family with a continuing income
• paying off your existing debts

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Trauma Insurance

If you suffer a Heart Attack would you rather lose your Home or your Mortgage?

It isn’t a trick question!

Trauma Insurance will pay you a lump sum if you are diagnosed with one of a list of conditions such as heart attack, stroke, cancer and up to 34 other medical conditions. Trauma Insurance can cover your mortgage, so you will be able to pay off your home with a lump sum payment.
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Business Expense Insurance

Business overhead or business expense insurance is designed to cover the usual fixed expenses incurred in maintaining a small business in the event the life insured is unable to work due to an injury or sickness. It is normally only payable for up to 12 months and is useful for self employed persons or those operating small businesses where the business relies solely or predominantly on the revenues generated by a key person to meet those expenses. Depending on the policy provider, the policy can be written on a “stand-alone” basis and does not have to be taken out in conjunction with Income Protection.

Business expenses are usually defined as:

• Business mortgage or loan interest payments.
• Electricity, gas, water, heating, telephones, cleaning.
• Business property rates and taxes.
• Non-income producing employees' salaries and costs relating to those salaries eg superannuation.
• Other fixed expenses.

Business expenses do NOT include:

• Salary, fees, drawing account or any other remuneration for the principal or a replacement of a member of the family or anyone who is not an employee.
• Salaries for employees who generate income.
• Cost of goods or equipment used in the business.
• Depreciation of real estate or payments of principal of mortgages or loans.

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FUTUREPROM Pty Ltd  |  Unit 1/300A Burns Bay Road, Lane Cove, Sydney NSW
P: 02 9428 1370  Mobile  0412 575 526 |  E: info@futureprom.com.au
ABN 96 398 071 419  |  Authorised Representative Number: 258204  |  AFSL No.:312478
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