Insurance

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Personal insurance can seem daunting, we understand that. Most of us don’t like to think about ‘what would happen if I got sick or had an accident and needed medical treatment?’.  We certainly don’t want to think about ‘what would happen if I died?’.  And when we are flat out working it’s often hard to imagine the possibility of not being able to work.

Looking after yourself and your family

Insurance is simply about making sure your loved ones don’t have to endure any financial pressure during a potentially challenging time in your life. Knowing you have a plan in place to protect your family, your assets, your lifestyle and most importantly your income, is very reassuring and one less thing to worry about.

Bayside Financial Group can help protect your family and your lifestyle through –

  • Life insurance
  • Income protection
  • Trauma insurance
  • Total and Permanent Disability

The team at Bayside Financial Group are specialists in personal risk insurance with over 25 years experience dealing with the major insurance providers. We give you a fully personalised, face-to-face service to help you make the right choices.

To arrange an insurance review simply call 9583 3400 or visit our contact us page, complete the enquiry form and we will call you.

Find out more about the most commonly asked questions we get asked about insurance

Is there a rule of thumb for how much cover you need?

Generally, you need to think about having enough cover to pay off your mortgage and any other outstanding debts you have such as credit cards, maintaining your family’s lifestyle and needs such as childcare and education costs, and replacing your income should you be unable to work either in the short term or permanently.

To help make things easier, you may want to try the AMP calculator ‘How much insurance do I need?’ at amp.com.au/calculators.

What does insurance cover?

  • Life insurance – pays the full sum insured when the insured person dies or is diagnosed with a terminal illness, meaning they have less than 12 months to live.
  • Total and Permanent Disablement (TPD) cover – provides an agreed lump sum payment if you become disabled and are unable to work again.
  • Trauma cover – pays an agreed lump sum if you suffer a serious illness or injury that is covered under the policy, such as cancer or heart attack.
  • Income Protection – generally pays you a monthly benefit of up to 75% of your regular salary, (and in some cases, 100% of your regular superannuation contributions into your superannuation fund) for an agreed period of time (eg two years), while you are too sick or injured to go to work.

What insurance does my Super Fund provide?

Life insurance, TPD and Income Protection may all be provided through your superannuation fund.  We recommend you check the insurance offered under your superannuation fund, your level of cover and whether you should increase it depending on your needs.  Keep in mind that Trauma cover is generally not available through your superannuation fund.