Richard and Jen's Total and Permanent Disability Insurance Story
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“If something were to happen to one of us, it's good to know that our debts would be cleared and our company would be protected.” |
Richard is 47 and has his own company. He married Jen in his early 30s and they have two children aged 13 and 11. Richard and Jen have a debt of $600,000.
When Richard and Jen first signed up for insurance with Canopy, their adviser suggested they add TPD to their portfolio. Richard has a high-pressure, but successful business and Jen has a great position working as a Teacher. Their Canopy adviser helped them to work through their priorities when he met with them to discuss their needs. He pointed out that while their kids and mortgage were of course important, both of them had invested a lot in their careers. They were risking it all by not arranging a ‘safety net’ in case something happened to either of them which meant they could not work. This was something that neither had considered and the slightly higher premium suddenly seemed very reasonable!
Now the pair can be confident that they could pay off their debt swiftly if either was to become permanently disabled. They could cover medical expenses, or could potentially take time off work to help the other. Richard knows that his business would be able to continue even if he couldn’t work. If an unexpected accident was to happen, they both know that even though life would be extremely difficult, at least they could cope financially.
When Richard and Jen first signed up for insurance with Canopy, their adviser suggested they add TPD to their portfolio. Richard has a high-pressure, but successful business and Jen has a great position working as a Teacher. Their Canopy adviser helped them to work through their priorities when he met with them to discuss their needs. He pointed out that while their kids and mortgage were of course important, both of them had invested a lot in their careers. They were risking it all by not arranging a ‘safety net’ in case something happened to either of them which meant they could not work. This was something that neither had considered and the slightly higher premium suddenly seemed very reasonable!
Now the pair can be confident that they could pay off their debt swiftly if either was to become permanently disabled. They could cover medical expenses, or could potentially take time off work to help the other. Richard knows that his business would be able to continue even if he couldn’t work. If an unexpected accident was to happen, they both know that even though life would be extremely difficult, at least they could cope financially.
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If you die or are diagnosed with a terminal illness that leaves you with less than 12 months to live, your family will receive a lump sum. Find out more |
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Total & Permanent Disability insurance gives you the peace of mind
that if you are unable to work due to disability, you will receive a lump sum payout. Find out more |
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Trauma Insurance
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Income Protection Insurance
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Trauma insurance (sometimes called Living Assurance or Critical Illness cover) pays out a one-time sum of money in the event of a life-altering sickness or stroke. This is designed to provide financial support during a recovery period.
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In the event that you are unable to work because of a serious injury or illness, this cover will pay your mortgage payments for you until you can return to work.
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