LOSS OF LIFE
It will never happen to me!  No-one knows! Serious accident and illness are often unexpected.  What we do know is that you can put in place a contingent supply of money so that the financial implications are minimised, thus removing the uncertainty from otherwise sound financial plans.

Do you have a need for cover?
Are there any mortgages to be paid off?
Are there any business loans for which repayment is dependent on a particular person?
Are there any other loans for which repayment is dependent on income?
Is your children's education prefunded, or will there be major payments in the future?
Would the loss of a key person in your business financially affect the business?
Would premature loss of life disturb your family's financial position?

Life insurance is a cost effective way of protecting your family and assets.

LOSS OF INCOME
Most of us just don't realise how much of a money machine we are.  We can earn millions over a lifetime.  If we were a machine we certainly would insure it.  A consistent income stream is the lifeblood of families and business.  You can insure your income for a very small percentage of your annual income.

Is there a need to insure your income?
If you are not independently wealthy, do you need income to live on?
Could you maintain your current lifestyle on social security benefits?
Will your accumulated sick leave cover you for a long term illness?
If you didn't have your income, could you maintain your superannuation arrangements?
If you were only partially disabled with reduced income could you maintain your lifestyle?
Would loss of income disrupt your family's financial position?

Income Protection insurance is like having a reserve income on tap just when you need it.

LOSS OF FINANCIAL RESERVES
Cancer, Heart Attack, Stroke and other major illnesses or accidents can stop you dead without killing you.  Recovery rates are high, but expenses could destroy your financial reserve.  Trauma insurance is one of the latest developments in life insurance that pays you money to recover and this in itself improves your chances.

In the event of a major illness would a lump sum cash payout help your situation?
If you were on a reduced income could you afford to pay off your major financial obligations?
Would you worry about being a burden to the family if you suffered a major accident or illness?
Would loss of savings and assets disturb your family's financial position?
Could you as the business owner or partner still meet your liabilities if you were off work for a while?

Trauma insurance can provide a very large lump sum of cash on diagnosis of a trauma while you are alive.