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Personal Insurance

At 7 Financial Planning, we understand how important it is to protect yourself and your family from unexpected risks. We offer personal insurance services to help you achieve peace of mind and the best financial plan for you and your loved ones We understand that everyone's financial situation is different and we strive to provide the best advice tailored to your individual needs. With our assistance, you can feel confident that you have the right coverage and protection in place.

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Personal insurance refers to various types of insurance policies that are designed to protect individuals and their families from financial losses in case of unexpected events such as accidents, illnesses, or damage to personal property.

Some of commen types of insurance include 

  • Life insurance 

    • Life insurance provides financial support to the beneficiaries of the policyholder in the event of the policyholder's death.​

  • Disabolity insurance 

    • It is a type of insurance coverage that provides financial protection to individuals who become totally and permanently disabled and are unable to work as a result.​

  • Income protection 

    • This insurance provides income replacement in case the policyholder becomes unable to work due to an injury or illness.​

  • Trauma insurance 

    • Trauma insurance, also known as critical illness insurance, is a type of insurance that provides a lump sum payment if the policyholder is diagnosed with a serious illness or condition that is covered by the policy. The purpose of this payment is to help cover medical expenses, pay off debts, and provide financial support during a difficult time.​

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When buying personal insurance, there are several important factors to consider to ensure that you get the right coverage to meet your needs. Here are some key things to consider:

  1. Your specific needs: The type and amount of insurance coverage you need will depend on your individual circumstances, such as your age, health status, income, and family situation. Consider what types of risks you are most concerned about and what types of coverage would provide you with the most peace of mind.

  2. Cost: Personal insurance policies can vary widely in price depending on the type and amount of coverage you choose. Consider what you can afford to pay in premiums and what level of coverage you need to adequately protect yourself and your family.

  3. Insurer reputation: It's important to choose an insurance company with a good reputation for reliability and customer service. Look for insurers with high ratings from independent rating agencies and positive customer reviews.

  4. Policy terms and conditions: Be sure to carefully review the terms and conditions of any policy you are considering before making a purchase. Understand the coverage limits, deductibles, exclusions, and any other important details that could impact your coverage.

  5. Professional advice: Consider seeking advice from a licensed financial advisor who can help you understand your options and make informed decisions about your insurance coverage.

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A financial planner can play an important role in helping you manage your personal insurance needs. Here are some ways that a financial planner can help with personal insurance:

  1. Review your insurance needs: A financial planner can help you review your insurance needs and determine the types and levels of insurance coverage that are appropriate for you based on your individual circumstances.

  2. Insurance coverage options: A financial planner can help you understand the various types of insurance coverage that are available, such as life insurance, total and permanent disability insurance, trauma insurance, and income protection insurance.

  3. Insurance providers: A financial planner can help you compare insurance providers and products, to find the insurance coverage that best meets your needs and budget.

  4. Insurance premiums: A financial planner can help you understand the premiums and costs associated with different insurance products and help you find ways to reduce your premiums without sacrificing coverage.

  5. Superannuation and insurance: A financial planner can help you understand how insurance can be incorporated into your superannuation strategy and help you identify opportunities to save on insurance costs through your superannuation fund.

  6. Claims management: If you need to make a claim on your insurance policies, a financial planner can help you navigate the claims process and provide support to help ensure that your claim is processed smoothly.

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