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Personal Insurance Advice


Insurance is an important risk mitigation step.  You may wish to consider the following factual information:

The two main categories are Life Insurance, including Trauma Cover and Total and Permanent Disability Cover, and Income Protection Insurance.

Life. Trauma and TPD

Life insurance products protect you and your family from the financial consequences of sickness and injury. There are a range of different kinds of life insurance products available and it is important you choose the right products that suit your individual and unique needs:

How much do you need?

You and your family are unique. So are your insurance needs.

There is no set amount of Insurance everyone should have. The amount you may need is calculated based on a number of factors such as your:

Income — how much you earn today (and tomorrow!)
Dependents – do you have children or other financial dependents?
Debts — do you have a mortgage, loan or other debts?
Assets — have you accumulated any assets over the years, like property or shares?

Life Insurance

Life insurance helps ensure your debts and dependents are taken care of in the event of your death. Life insurance provides you with the peace of mind that that your interests will be protected after you’re gone. Today, life insurance is much more sophisticated, but the basic concept remains the same: it provides a one-off payment if you pass away or are diagnosed as terminally ill. A life insurance payment can help your family continue to live the life you’ve planned together: And at a time when emotions are running high, life insurance can provide the people you leave behind with financial certainty and security.

Trauma Cover

Trauma cover pays you a one-off lump sum after suffering from one of the specified major diseases or injuries covered, such as a heart attack, stroke, cancer or loss of limbs or sight. Trauma cover has been designed to cover medical and rehabilitation costs, to provide for your family and help with lifestyle and employment changes. Recovery (trauma) insurance takes the pressure off, so you can spend your time focusing on recovering not worrying about your finances.

Total & Permanent Disability Cover (TPD Cover)

Total & Permanent Disability Cover (TPD Cover) pays a iump sum if you suffer an illness or injury that prevents you from ever earning an income due to disabiement. Because TPD Cover benefits provided under Superannuation plans is often not enough, TPD insurance is a lump sum payment paid to yourself and is used to clear out debts, provide funds for medical costs and income to maintain your lifestyle.

Income Protection insurance

Who will pay the bills if you are injured or sick? How long would your finances survive?

Income protection provides a monthly income when you’re unable to work because of injury or illness – important to consider if you are concerned what would happen without your income.

This type of Insurance provides an income replacement while you are unable to work as a result of either sickness or injury, Totally Disabled or Partially Disabled. Cover is provided on a 24/7 basis and usually covers the individual worldwide. You can choose the waiting period, benefit payment period and how much of your income you will insure (subject to minimum and maximum amounts).

Payments are made until the end of the chosen benefit period or when disablement ceases. Whilst the benefits are tax assessable as income, premiums are 100% tax deductible.

This means you can concentrate on recovering and getting back to work, rather than watching your investments and savings slowly diminish.

While Sondergaard does not provide any financial service or product, Sondergaard may advise clients of a suitable provider of the financial services and products and refer the client to that provider that is authorised under an AFSL to provide such services. While Sondergaard does not currently receive any remuneration or benefit from such referrals Sondergaard will advise any client of any benefit that it may receive in writing pursuant to such introduction should there be a change in policy.

The information on this website contains factual information only that is not intended to be financial product advice. It has been prepared without taking into account any person’s individual investment objectives, financial situation or particular needs. A person should not act on this information without first talking to a financial adviser.

This information is given in good faith based on information believed to be accurate and reliable at the time of publication, including the continuance of present laws and our interpretation of them. We do not undertake to notify recipients of changes in the law or its interpretation.

Forecasts and other representations about future matters are based on economic and other factors. These factors can change and this can affect the future outcomes. This website may contain some general tax information. While we can advise you on the tax implications this will be on a case to case basis.

While all care has been taken in preparing theinformation on this website, we give no warranty of accuracy or reliability, accepts no responsibility for any errors or omissions, including by reason of negligence, and shall not be liable for any loss or damage whether direct, indirect or consequential arising out of, or in connection with, any use of, or reliance on, the information contained in this website.

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