The value of insurance

Ever wonder how your family would cope if the unthinkable was to happen? How would you keep your independence, or protect your family if you weren’t able to work?

Hopefully nothing bad does happen, but unfortunately, some lives are interrupted by an accident, illness or premature death, so why not put yourself in a position where you can control your financial situation and help you and your family in difficult times?

While we often prioritise travel insurance or home and contents insurance, why don’t we cover ourselves in the same way?  The average Australian family is only covered for 47% of its basic needs or 28% of the amount they would need to maintain their existing standard of living¹.

Superannuation and insurance

Approximately 80% of Australians have some form of default life insurance through their super according to ASIC², and with Vision Super you could be eligible for the following types of cover:

• Life cover, which is also known as ‘death cover’. It pays a set amount of money when the insured person passes away.
• Total and permanent disability (TPD) cover. A lump-sum amount of money paid to you when you’re unable to work again; and,
• Income protection (IP), also known as ‘temporary disability’ and ‘salary continuance cover’, which replaces the income lost through a temporary inability to work due to injury or sickness.