Is it your home, your super, or even your car? You may be surprised to learn that your most valuable asset is probably you. What will happen to you or your family if you are no longer around, or can’t work? Can you replace your lost earnings? Will the mortgage get paid? It’s not a pleasant thought that your family would have to sell their home if they couldn’t make ends meet. You may feel uncomfortable thinking about insuring yourself and push the idea aside. After all, insurance gets paid when something unexpected and painful happens. However, not thinking about life insurance may leave you and your family facing further painful financial consequences. Having sufficient cover may help you avoid this. This is where a Liddell & Ko insurance adviser can address you and your family’s financial vulnerability to ensure that they are adequately protected in their time of need. Our experienced team of qualified insurance advisers are able to source a wide range of personal insurance products at competitive premiums from more than 10 of Australia’s leading insurers. [see our obligation-free review service]

The following types of cover are generally available subject to each insurer’s underwriting criteria:-

    Health Insurance may cover a portion of your medical bills, but it will not pay your rent or mortgage and living costs. Income Protection insurance provides you with a monthly benefit up to 75% of your income to replace lost earnings if you become disabled and are unable to work. Some companies offer additional benefits and you may even be able to claim a tax deduction on your premiums. Premium cost can vary depending on waiting period and benefit periods selected.
    Life cover helps your family maintain their financial position in the event of your death by providing your beneficiaries with an agreed lump sum. You can choose a standard cover at an affordable price, or a more comprehensive cover with a range of benefits for even more peace of mind.
    TPD cover, offers financial security for the unexpected by providing you with a lump sum if you suffer Total and Permanent Disability and are unable to work again. Some companies offer policies that also include a special Loss of Independence benefit for people 65 and over. This benefit can offer an agreed lump sum to help you if you are unable to look after yourself.
    Also known as Critical Illness, this cover pays you a lump sum if you develop or suffer certain traumatic events or critical illness. You receive the money when you need it most, so you have one less thing to worry about. Policies cover conditions such as Heart Attack, Coronary Artery By-Pass Surgery,  Cancer, Stroke, and Loss of Independence where you are permanently unable to look after yourself. Some life company’s policies will allow you to add trauma cover as part of your life cover, for an additional premium you can also add Total and Permanent Disability as a critical condition. This benefit can help to cover medical costs, extra care and the day-to-day expenses as they can quickly accumulate.
    This cover will reimburse you for fixed business expenses incurred to keep your business going if you become disabled and unable to work due to sickness or accident. Expenses covered generally includes, Rent or Mortgage Payments, Rates and Electricity and Water Costs, Telephones, Insurance and Lease payments, and even the salaries of employees not generating business income.



Having some cover through your super fund is a good start. This can be a cost-effective option, but you need to check what happens when you leave your employer, as you may lose your cover. Generally, Death cover, Terminal Illness, Total and Permanent Disablement and Salary Continuance/Income Protection can be included within your superannuation fund. Some other advantages of taking out your personal insurance within your super fund include:-

  • You can pay for the premiums out of your super benefits rather than from your, after tax income.
  • If you’re self-employed, or employed and salary sacrificing , you may be able to claim tax deductions for your personal contributions or salary sacrifice contributions. This can thus be a tax-effective way of being able to afford insurance.


If you have existing insurance cover in place, but are uncertain as to exactly what you are covered for or how much you should be insured for, please contact us for a no-obligation review of your existing policies. We will ensure that you understand exactly what you are covered for and will also provide you with a comparison of like-for-like cover with the other major insurers in the Australian insurance marketplace.


Whilst you are a client of Liddell & Ko, we will guarantee that in the event that you need to claim or are unsure if you have a claim, your Liddell & Ko adviser will assist you or your family through the claims process. This aids our client’s by easing the emotional burden that can result from dealing with an insurance company in a time of grief or illness. Our client’s will not be charged a fee for this service, regardless of how long it takes to reach the conclusion of their claim.