We take some of the best things in life for granted. The ability to generate an income can be one of them? So how would you feel if it was lost or taken away?
Most people wouldn’t drive without car insurance, or live in a house without home and contents insurance. Yet most of us don’t consider protecting their ability to earn income that funds their lives and those of their families.
Serious illness is serious business. Could your family cope financially with the cost of medical treatment and a recovery period with little or no income? The bills don’t stop just because you stop working.
At Shield Wealth protecting your future is a key element of what we aspire to achieve for you and your family.
As it is important to accumulate wealth it is just as important to protect what you have created
There are different types of insurance for different types of events. For individuals these are:-
Income protection
Also known as salary continuance can help you manage your expenses if you are unable to work for a certain amount of time. Each income protection policy has its own definition of disability and range of benefits. Income protection usually offers cover up to 75% of your gross wages for a period of time (e.g. 2 years or to age 65).
Life
Insurance that pays out a sum of money on the death of the insured person
Total & Permanent Disablement
Insurance that may pay out a sum of money as a result of a serious injury or illness that can make it difficult of impossible for you to continue to work.
Critical Illness
Is an insurance product in which the insurer pays lump sum cash payment on the diagnosis of a specific illness on a predetermined list attached to the policy, for example, cancer.
For business and business owners these are:-
Buy/Sell
Buy sell insurance supported by a legal agreement can protect business owners and their respective estates from the impact of death, disability and critical illness. The sum insured is usually equates to the value of each owner’s share of the business. Certain ownership structures have tax implications depending on the type of structure chosen for buy sell insurance cover.
Key person
It is life insurance which insures an employer against the death or incapacitation of the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee. These are people who are critical to a business.
Business Expense Insurance
It is used to cover fixed business expenses if you are unable to work due to sickness or injury. It can keep the business running while you take time out to recuperate.
Contact us to discuss how we can assist you.
