Insurance

Many people put off purchasing insurance products until it is too late. Don't get caught out. Ask yourself, if you were no longer able to work due to injury or illness, or even death, who would pay for your mortgage, children’s school fees, clothes and food?

AMO offers a wide range of products to help protect you.

Term Life Insurance

Term life insurance ensures that in the event of your death or terminal illness, your family does not have the added burden of financial stress during such a difficult time in their lives.

Your policy pays an agreed lump sum of money in the event of your death or terminal illness (i.e. an illness from which you are expected to die within 12 months [according to a medical practitioner], thereby allowing for an advance payment).

Most policies can be renewed up to the age of 99. The only exclusion on the policies is death due to suicide in the first 13 months.

In the event of your death, your family can use the lump sum payment from life insurance to:

• Pay off debts, and
• Provide an income to maintain their lifestyle and achieve their financial goals

Income protection insurance

Income protection insurance offers a monthly payment in the event that you are sick or injured and cannot perform the duties within your own occupation. The policy is guaranteed renewable, so the insurer cannot cancel the policy due to a change in your circumstances.

Many Income Protection policies include extra benefits. The greater the inclusions, the higher the premium, so when it comes to income protection you really do get what you pay for. So if you are considering a basic policy because it is cheaper, just consider why it might be cheaper. Income Protection is a very important investment that should not be treated lightly, especially when you want to protect your income and your family. An AMO insurance specialist help determine the best cover for you.

Trauma Insurance

Fighting serious medical conditions is a challenge that does not need to be made greater by the associated medical expenses. Trauma insurance pays a lump sum if you suffer one of the covered medical conditions. Trauma conditions are usually deemed to be potentially life threatening, most commonly covering you for around 45 different medical conditions, including things such as heart attack, cancer and stroke.

Trauma insurance can be used to help pay out any debt, cover medical bills or even take a holiday.

Total and Permanent Disability Insurance (TPD Insurance)

Total and Permanent Disability insurance is often taken as an extension to income protection. To claim on TPD cover you usually have to be off work for at least 3-6 months due to sickness or injury, and never be able to return to work again. TPD is paid as a lump sum and can supplement your income protection. Your TPD can be used to cover your debts, while your income protection can be put towards living expenses and even superannuation.

Useful Information