Types of life insurance

Most people think of life insurance as just that – insurance that covers you in the event of death.

However, there are actually several types of life insurance that cover you for different needs and stages in life.  Here, we break it down for you.


Pays a lump sum on your death or the diagnosis of a terminal illness.

If the worst happens, your foresight will pay off debts, provide for your children’s education, assist with childcare and secure your family’s lifestyle.

This will allow your family to focus on supporting each other, rather than worrying about financial burdens.







Pays a lump sum if you become disabled and are unable to ever work again.

You can use this to pay for everyday expenses, cover medical costs and invest so that you have an annual income to help maintain your lifestyle.








Pays a lump sum on the diagnosis or occurrence of one of a list of specific serious conditions such as heart attack, cancer or stroke.

That payment will give you options at a time when you need it most. You will be able to reduce your working hours, spend valuable time with your family, and pay for any number of unexpected things.







Provides a replacement income of up to 75% of your current income if you are unable to work due to illness or injury.

It can cover you for short periods and offer various waiting periods to suit your needs.

Depending on the policy, payments may continue up to the age of 65 if the disability is ongoing or permanent.







Covers the ongoing costs of your business if you are self-employed and cannot work due to illness or injury.

Key person insurance covers the losses when a person essential to your business is injured, becomes sick or dies.



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