Personal insurance | Count Wealth

Personal insurance plans you can count on

We find that many of our new clients don't fully understand their personal insurance. For instance, you may not be aware of:

What you are covered for
How much cover you have
Whether this cover is sufficient
The terms and conditions that apply

Cover tailored to your circumstances

Insurance needs change over time and should be reviewed regularly. Our advisers analyse your current coverage, walk you through the options and structures available, and tailor a policy that fits your circumstances at a competitive premium.

A FREE initial strategy session

We offer a FREE initial strategy session that will help you understand the opportunities and pitfalls that exist, and more importantly, how we can guide you to a place that suits your personal insurance requirements.

Life insurance

Life insurance is essential if you wish to help your loved ones rebuild their lives in the event of your passing. With the right cover in place, they can receive an appropriate lump sum payment to look after themselves, whether to replace lost income, pay off debts or support their needs.

Professional life insurance advice from our experienced financial planners will ensure you secure the most suitable cover for your circumstances, so you can protect your family's financial security long after you're gone.

Total & Permanent Disability Insurance (TPD)

Serious illness or accidents can be devastating to a family's finances and lifestyle. With a personalised TPD insurance policy, you can be confident you will be able to provide for yourself and your loved ones even if you are unable to ever work again.

While some form of TPD insurance may be included through your super funds, it is important to understand exactly what you are covered for. Our personal insurance advisers are experts in such policies and will make sure your needs are met with reputable insurers.

Critical Illness (Trauma) Insurance

If diagnosed with a significant illness or condition, you may need funds for medical costs and assistance and to take time off work for weeks, months or potentially even years.

With Critical Illness or Trauma insurance, you will receive a lump sum payment to support expenses such as medical fees, mortgage payments, childcare costs and more, so you can focus your energy on getting better instead of worrying about your finances.

Common conditions covered can include heart attack, stroke, Alzheimer's/dementia, permanent paralysis, organ failure, cancers and tumours, and deafness or blindness.

Income Protection Insurance

If you cannot work due to injury or illness, Income Protection insurance enables the continuation of your salary payments until you're ready to return. It pays for a specific time period based on the policy implemented, usually between 2 to 5 years or up to age 65 to 70. You will receive this payment once a specific waiting period of unfit for work has been attained: either 14, 30, 60, 90 days or longer.

You can set up Income Protection insurance in a variety of ways, including investing through your superannuation or paying for it directly. Our insurance specialists can help you to select the right policy for your needs, covering up to 75% of your annual gross income and your lost employment superannuation payments.

Frequently asked questions

What is life insurance?

Life insurance pays a lump sum to your nominated beneficiaries if you die during the term of the policy. The intent is to leave dependants in a financial position to continue without your income, clear debts such as a mortgage, and meet costs like funeral expenses, education, or ongoing living. How much cover is appropriate depends on dependants, debts, and what you want the payout to do.

Advised life insurance vs direct life insurance

Advised life insurance is life insurance that you obtain through the use of a specialised financial adviser, whereas direct life insurance is very much 'off the shelf'. Some people prefer advised life insurance because it removes a lot of the confusion when it comes to choosing an appropriate policy and understanding the coverage's terms and conditions. Getting professional advice helps narrow your options to find a policy that properly suits your specific requirements and desires. It will also eliminate the risk of being over/underinsured or paying more than you should in premiums. While direct life insurance requires less upfront medical information and applications can be completed in minutes, the traps here are under-insurance risk, inappropriate policies, or unexpected terms and conditions resulting in an avoidable decline in a claim.

How much is life insurance?

The cost of your life insurance policy will vary depending on a range of factors, including your current health and medical history, your occupation, your hobbies, whether you're a smoker or non-smoker, your gender and age, and your sum insured. The best strategy is to speak with a trusted insurance adviser who can tailor the right package for you that works with your individual circumstances.

Is trauma insurance taxable?

In general, trauma insurance is not taxable. Typically, you will not need to pay tax on trauma insurance payouts unless the policy is held for business purposes subject to Capital Gains Tax. Therefore, trauma insurance premiums are not usually tax deductible.

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