What types of cover are there?

There are 4 main types of life insurance

There's more than one way to protect yourself with life insurance. Here we explore the 4 main types of cover, how they can help and how much cover you may need.

Life cover

Pays a lump sum to your beneficiaries or estate in the event of your death or terminal illness. Allows you to pay off any existing debts, cover living expenses for your dependants, or provide the financial support you’d like to give them in your absence.

Total and permanent disability (TPD) cover

Pays you a lump sum if an illness or injury leaves you permanently disabled and unable to work, or perform normal domestic duties if you work in a home-maker role. Allows you to cover out-of-pocket medical expenses, home or transport modifications, support your ongoing financial needs and take care of your dependants.

Trauma cover

Pays you a lump sum in the event of certain types of serious illness or injury. Allows you to cover the cost of out-of-pocket medical expenses and financially support your lifestyle and family during an extended break for you (and potentially your spouse) from work as you recover.

Income protection

Pays you a monthly benefit to replace part of your income if you are temporarily unable to work as a result of serious illness or injury. Allows you to cover everyday living expenses and maintain the lifestyle you’ve built for yourself and your loved ones.