What is risk insurance?
Risk insurance encompasses the insurance that relates to your life and ability to work.
- Life insurance
- Income protection, or salary continuance – for example, while recovering from short-term illness or injury
- Total and permanent disability
- Trauma insurance, or critical illness
- Business expense insurance, including key person
A basic level of insurance is usually included as part of your superannuation fund, but this level is almost never enough to meet your needs.