Personal Risk Insurance isn’t just about loss of life… it is also there if you lose your ability to earn an income.
The key to creating an effective personal risk insurance plan is to visualise what a secure financial future would look like for your family if you were to die or could no longer earn an income.
It must take into account many issues, including ongoing living expenses, repayment of debts, and special expenses like schooling. It might also take into account the financial cost of fulfilling the aspirations of your dependants and other people close to you. And, if appropriate, your desire to leave a philanthropic legacy.
In the case of you suffering a severe illness or injury, you should also take into account the potential cost of hospitalisation, surgery, medicine, rehabilitation and home nursing costs. You should also consider the possibility you may need to make modifications to your home to make it easier for you to get around.
At Fairway Capital, we help you define your vision of a secure financial future for you and your family – and then help you to calculate how much money you’ll need to fund that situation – if you die or no longer earn an income due to serious illness or injury.
We will then assess if you can afford to self- fund your vision, or whether you need to consider transferring some or all of that financial risk to an insurance company. It’s all about protecting your family from unnecessary financial hardship.
Our job then is to research the major, reputable insurance companies to find the insurances which provide you and your family with the right level of protection, including the definitions, clauses and exclusions which best suit you.
Of those insurances which meet your needs, we obtain quotes to ensure we recommend cost-effective solutions.