Risk Management, Risk Assessment & Insurance

We can assist you in choosing the most appropriate
insurance cover for you and your family.

Robburns Financial Services can assist you in choosing the most appropriate insurance cover for you and your family.

Life Insurance

Life insurance provides a lump sum in the event of death or terminal illness of the life insured. This money can be used for the repayment of debts, future expenses and to generate income.
We recommend each individual have their own policy.
If your circumstances change you may need to review your cover.
Life insurance is often offered through superannuation policies but you should confirm if and how much cover is offered. Generally, the basic coverage amount is fairly minimal considering today's average debt and financial obligation levels, so you may need to top up your amount of cover with a separate policy.
There are also whole of life, and endowment insurance policies, but these are rare because of exclusions and high cost.

Income Protection is designed to cover you temporarily if you are unable to work due to injury or illness.
Generally, income protection will cover you up to 75 percent of your normal income, giving you a regular income until you are able to return to work – or at the end of the prescribed benefit period as noted on your policy.
Benefit waiting and payment periods can vary and we can help choose the most appropriate cover for you.
Premiums will vary depending on occupation, age, smoker and health status.
The cost of the insurance is tax deductable.

This is insurance is designed for the self-employed or business owner who is unable to work due to sickness or injury. It will cover fixed business expenses and it can keep the business running while you take time out to recover.
Many people think that workers’ compensation, business interruption insurance, or even your income protection policy will cover these expenses, but they often don’t.
Your personal income protection cover is designed to cover up to 75% of your own taxable income from your business. But if you have fixed business expenses and you don’t also cover these, you've only got half the protection you need.

TPD is paid as a lump sum in the event that you are totally or permanently disabled and cannot return to your occupation. This is sometimes built into Trauma cover.
This lump sum could be used for medical expenses, mortgage repayments, house/car modifications or long term medical care.
Can be built into your superannuation cover which will not affect your cashflow but tax may be payable on the benefit pay out.

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