FMG has the support you need to provide your family and business with financial security - whatever life throws your way.
Protection for life events
While no one wants to think about the worst happening to them, not thinking about how your family, livelihood or staff would cope or operate without you for the short term, or permanently can be just as worrying.
In the same way that you take steps to protect and insure your fixed assets like your home, vehicles, farm or business — the same steps should be taken to protect yourself and your family. When you own a business you also need to protect who you consider a ‘key person’. By taking these steps you’re helping ensure your family and your business can continue on should the unexpected happen.
At FMG we’ve got a team of advisers who can talk with you; identify the impact on your family, and business should you become ill, injured, disabled or even die, and work out a personalised risk plan that will offer the right support.
What is a personal risk plan?
A personal risk plan includes an assessment of how you and/or your family will cope if something happens to you and looks at ways to safeguard against adverse financial impacts. Our advisers will talk with you to identify your needs and goals and establish a plan that best suits you. The types of questions to consider include:
- Who will look after me if I’m disabled?
- Will my business survive if I’m unable to work? Will I be able to meet my financial commitments?
- How will my family cope financially if I am no longer around?
How a personal risk plan can work for you
Short, medium or long-term injury or illness
If you become sick or injured and are unable to work, personal insurance can give you the financial support you need while focusing on your treatment, recovery or rehabilitation.
Financial support could focus on income replacement for your family, help with paying the mortgage or could be used for labour replacement cover to keep the business running. It could also come in the form of private healthcare which can cover anything from day-to-day healthcare costs right through to paying major medical and surgical costs at a private hospital.
Life insurance is ultimately about looking after your loved ones and your business. Having the right cover can help with the financial pressures such as paying off personal or business debts, having your partner and children maintain their lifestyle or enabling surviving business partners to buy out your shares.
Life insurance and key person insurance is usually paid out in a lump sum if you or a person you’re depending on in the business, die. This cover can also help if you’re diagnosed with a terminal illness and given 12 months or less to live. If this happens, you can draw down your sum assured to spend as you wish.
Whether you live in the town or country, are employed or run your own business we know that a personal risk plan is a significant consideration which is why we have trained, professional advisers to help you through every step. If you need an adviser who understands you, your family or your business, or would simply like support in taking out cover, we can help you through the decision-making and application process.