Halloween can be a spooky time of year. Especially if you don’t have the right personal insurance.

To help you choose the right cover, we’ve put together a quick guide on the different types of personal insurance you might want to consider.

Life insurance

If you want to protect your family from financial difficulty when you die, you might want to consider what is often called ‘term life insurance’ or ‘death cover.’ The money will go to the people you nominate as beneficiaries on your policy.


TPD (Total and Permanent Disability) Cover is often sold with life cover. TPD pays a lump sum to help with rehabilitation and living expenses if you are totally and permanently disabled.


Being diagnosed with cancer or suffering a stroke isn’t just a physical and emotional challenge. It can create financial stress too. That’s where this kind of insurance can help. You may have also heard this type of cover referred to as ‘critical illness cover’ or ‘recovery insurance’.

Income protection

When you have to stop working due to injury or sickness, the bills don’t stop. That’s why income protection can be a good option. This type of cover can replace some of your income when you are unable to work.

Accidental Death Cover

If your death is as the direct result of an accident, i.e. not from an illness or disease, this cover pays a set benefit. These sorts of policies often exclude a number of circumstances, e.g. drug use, self-harm and dangerous activities.

How do you choose?

You may have some life insurance cover through your super. But is it enough? If you’re not sure, it could be worth having a chat to an adviser who can review your cover and see if it’s aligned with your goals. It’s important to not only build wealth, but also protect it from an unfortunate change of circumstances in the future.

If you’d like to talk to one of the specialist wealth protection advisers at Elston, email us or call 1300 ELSTON.