Personal & Business Insurances
At Baggetta & Co we strongly believe in insurance, both personal and business. The importance of insurance cannot be over-emphasised. And nor can regular review of your insurance policies.
Baggetta & Co works closely with both Business Insurance Consultants and Life Insurance Specialists to ensure that our clients have the right amount of cover and that their insurances are structured to achieve the best result for their current circumstances and where possible, are tax effective.
Personal and Business Insurances include:
• Life Insurance – pays a lump sum upon death of the person insured. This is important, particularly if you have dependants, because it provides your family with funds to help maintain their lifestyle in the event of your death.
• Total & Permanent Disability Insurance (TPD) – provides a lump sum payment if you’re totally and permanently disabled. Depending on your policy, you are covered if you can’t work again in ‘any occupation’, or can’t work in your ‘own occupation’ (your usual occupation or chosen field of employment).
• Trauma/Critical Illness Insurance – also called critical illness insurance. This insurance provides a lump sum benefit if you are diagnosed with a specified illness or injury. These types of products cover the major illnesses or injuries that will impact a person’s life and lifestyle, such as cancer or a stroke.
• Income Protection Insurance – also called salary continuance or disability insurance. Income protection insurance replaces the income lost through your inability to work due to injury or sickness. This is a very important part of your overall financial planning strategy.
• Business Expense Insurance – your insurance requirements may vary considerably depending on the type of business you operate. Some insurers offer insurance package policies specifically tailored to cover your business needs. There are also individual products that may be relevant to the particular nature of your business.
There are three broad types of Business Insurance:
• Asset & Revenue Insurance – insurance to protect your assets and revenue generating capacity.
• People Insurance – insurance cover for you and your employees, includes workers compensation, personal accident and illness.
• Liability Insurance – or legal liability insurance, covers your business against personal injury or damaged property owned or controlled by someone else. Types of liability insurance include public liability, product liability or professional indemnity.
To learn more about the various insurance policies that are available for your protection, or to review your current circumstances and policies, call us on 9317 7300.
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