Put simply, risk insurance is there to provide you with protection against the financial implications of an event such as death, disablement, serious illness or injury.

Risk insurance can help you to meet your financial goals and obligations if you lose your ability to earn an income.

What insurance types are available?

Life insurance

What would it be like for your family if you died?  How would they cover the mortgage, electricity, gas and phone bills, even basics such as food?

Perhaps your family would be forced to sell assets causing even more disruption at a time when they really need financial support and time to adjust.

Life insurance helps alleviate the financial burden your family may be left with after your death. Usually paid as lump sum, your dependants can use this money to assist with medical costs, funeral expenses or help secure their future.  Many policies also provide for an amount to be paid upon diagnosis of a terminal illness or permanent disability.

Total & Permanent Disability Insurance

This policy provides a lump sum in the event that you become totally and permanently disabled.  It is commonly referred to as TPD cover.  This lump sum could be used in any number of ways to provide for your dependants, to compensate for the loss of your income, repay your debts or cover capital gains tax liabilities.

There are certain conditions that need to be met to receive a TPD benefit payment; these vary significantly between insurance providers. Before taking out TPD insurance it is very important to understand the conditions under which the insurance company will pay a claim.

Trauma Insurance

During our lifetime we often hear of a neighbour, friend or work colleague who has suddenly been diagnosed with a critical illness such as cancer or heart attack, or suffered a disability creating financial strain on the family.  It makes you realise that regardless of your lifestyle or diet, there are no guarantees when it comes to health.

Trauma insurance is generally paid as a lump sum upon diagnosis of one of many eligible conditions.  The illnesses covered vary from policy to policy, but most cover cancer, stroke, heart attack and coronary disease.

The benefits are paid to you when you are diagnosed with, and survive, an eligible condition. This will ensure that you and your family have a lump sum to cover medical and rehabilitation costs, pay out mortgages and other debts, or to simply reduce the worry of meeting regular payments during your recuperation or ongoing illness.

Income Protection Insurance

Most of us get sick with minor ailments every now and then, but what about if a more severe illness or injury interrupted your income stream for a longer period of time – weeks, months or even years?  How would you support your family and pay the bills?

Income Protection is an insurance policy that replaces your income if you are unable to work because of a serious sickness or an accident. The benefits are paid monthly for the period of incapacity or the duration of the policy, whichever is the shorter period.  Most policies permit you to cover up to 75% of your present income.  The premiums that you will pay for this type of policy are generally tax deductible. However, any payments you receive as a result of this policy are classified as assessable income for tax purpose.

 Traill Insurance Solutions can assist you with all of your personal insurance needs. 

 To see how it can protect your family refer to the case studies tab on the right of this page.                                     


This information is of a general and preliminary nature only and has been provided without taking full account of your objectives, financial situation or needs. Before acting on any information on this website, Traill Financial Services Pty Ltd recommends that you consider whether it is appropriate for your circumstances. You should not act on any advice until we have fully considered your personal circumstances and provided you with a Financial Services Guide, Adviser/Representative Profile, Statement of Advice and Product Disclosure Statement/s. Please note that concepts and ideas proposed before the issue of a Statement of Advice may differ from the final recommendation.

Traill Financial Services Pty Ltd ABN 60 139 482 482  AR 341476 Trading as Traill Insurance Solutions - Corporate Authorised Representative of OAMPS Life Solutions Ltd ABN 67 074 697 537  AFSL 238318.