Sova Financial | Types of Personal Insurance

The table below summarises the types of insurance and some of the key personal protection needs they could meet.

*Policy Type*	When does it pay?	Helps you to…
Income Protection	Provides a monthly paymentof up to 75% of your income if you are temporarily unable towork due to illness or injury.	Pay your ongoing living expenses and financial commitments while you recover such as your: mortgage/rent loan repayments bills food and daily living expenses
Critical Illness Insurance	Pays a lump sum if you suffer orcontract a critical condition specified in the policy (eg cancer, a heart attack or a stroke).	Cover expenses such as: out of pocket medical expenses such as rehabilitation childcare clear some or all of your debts (mortgage/loans)
Total and Permanent Disability Insurance (TPD)	Pays a lump sum payment if you suffer a total and permanent disability and are unable to work again.	clear your debts and cover medical and rehabilitation expenses.
Life Insurance	Provides a lump sum payment in the event of your death.	clear your debts enable your family to meet their ongoing living expenses and maintain their lifestyle cover other expenses such as childcare and housekeeping and treat your beneficiaries equitably

Note: These insurances are all subject to terms, conditions and exclusions. You should refer to the relevant product disclosure or policy document for the full terms and conditions of the insurance cover provided by the product.