An option with Life Insurance is to take an extension of Total and Permanent Disablement Insurance (TPD).
TPD insurance helps you modify your lifestyle and gives you choice and options if you're left without the ability to work in the event of becoming totally or permanently disabled.
TPD insurance provides a one-off payment that can help you:
- fund lifestyle changes and home modifications
- cover the cost of long-term care or medical expenses
- pay off any debts including your mortgage
- fund an ongoing income for your family