Health is a precious thing.
If you fall sick and can’t work you still need money to pay the bills. Insurance can help you make ends meet if you are unable to earn your normal income.
There are many types of health-related policies, such as:
- Medical insurance, which covers private hospital and other medical bills
- Trauma (also called critical illness), which provides a lump sum if you suffer from certain illnesses or injuries such as cancer, heart disease or paralysis
- Income protection insurance, which pays a percentage of your income on an ongoing basis if you suffer from named illnesses
- Disability insurance, which pays out a lump sum for permanent disablement through sickness or accident
- Mortgage protection insurance, which covers your mortgage if you can’t work