A Guide to Insurance for Women
In Australia, men and women often have the same professional, personal and financial responsibilities. When it comes to health however, women have some considerations that are all their own and most insurers can provide financial protection for some of these unique considerations.
Your Cover Options
Life Insurance:
Life Insurance provides a lump sum payment when you die or if you’re diagnosed with a Terminal Illness, which your family can use however they choose.
Critical Illness Insurance:
Critical Illness Insurance provides a lump sum payment if you’re diagnosed with a serious illness like cancer, heart attack or stroke. An example of a feature designed specifically for women in Critical Illness Insurance is the benefit providing cover for female-specific medical risks. These benefits can pay 20% of the total lump sum insured for conditions like lupus, severe osteoporosis and a range of pregnancy complications.
Total & Permanent Disability Insurance:
Total and Permanent Disability (TPD) Insurance provides a lump sum payment if you become permanently disabled due to sickness or injury, and are unable to work again. An example of a feature in TPD Insurance designed specifically for women is that this cover gives you flexibility if you are moving in and out of the workforce during pregnancy, and can continue throughout the pregnancy.
Income Protection Insurance:
Income Protection Insurance provides a monthly payment if you’re unable to work due to an illness or injury. An example of a feature designed specifically for women in Income Protection Insurance is that this can cover you if you are on maternity leave and become sick or are injured or if you are unable to work as a result of a complicated pregnancy.
Insurance can be complex if you don’t know what questions to ask, or if you don’t know what you are looking at. For assistance give FAA a call on (07) 5451 0022
“Got any questions? The FAA Team are here to help!”
John Hehir
