Life stage - Early career

This can be a busy and social period, but if you are unable to work for two or three months, perhaps due to an injury on the ski slopes or an illness, how will you pay the rent and phone bills or save for a house deposit?

Income protection, plus a choice of Total and Permanent Disability (TPD) or Trauma insurance (explained below) could be considered. A Commonwealth Financial Planner can help figure out exact levels of cover required.

  • Income protection – pays some of your income if you’re unable to work due to sickness or injury, subject to a waiting period. . Premiums may be tax deductible
  • Total and Permanent Disability (TPD) – pays a lump sum in the event of total disablement resulting in being unable to work again. Generally, the insurer will pay a pre-agreed amount.  
  • Trauma insurance – pays a lump sum if you are diagnosed with a particular life-threatening illness covered by the policy.

Life stage - Family with young children

Priorities have shifted. Parents are making their way up the work ladder but there could be financial pressures including a mortgage, a second car and supporting the needs of young children.

What if you were suddenly unable to work, even for just a few months? What if an accident or illness meant you were no longer around to help care for their family? How would mortgage repayments, school fees and living costs be met? Suggestions for this period include a selection from the previous three covers – Income protection, TPD and Trauma - as well as Life insurance.

Life stage - Mature couples and mature singles

You are reaching retirement and hopefully have a sense of financial security. But this is arguably the most important stage for your own personal insurance. Building a retirement fund, paying down a mortgage and supporting older children while facing statistically increasing health issues mixes great freedom with enormous responsibility.

Life insurance could be your priority. Also consider a mix of Income Protection, TPD or Trauma. If you're mature and self-employed, consider Business overheads cover, which looks after fixed operating expenses if you can't work due to illness or injury.

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Life stage - Early career

This can be a busy and social period, but if you are unable to work for two or three months, perhaps due to an injury on the ski slopes or an illness, how will you pay the rent and phone bills or save for a house deposit?

Income protection, plus a choice of Total and Permanent Disability (TPD) or Trauma insurance (explained below) could be considered. A Commonwealth Financial Planner can help figure out exact levels of cover required.

  • Income protection – pays some of your income if you’re unable to work due to sickness or injury, subject to a waiting period. . Premiums may be tax deductible
  • Total and Permanent Disability (TPD) – pays a lump sum in the event of total disablement resulting in being unable to work again. Generally, the insurer will pay a pre-agreed amount.  
  • Trauma insurance – pays a lump sum if you are diagnosed with a particular life-threatening illness covered by the policy.

Life stage - Family with young children

Priorities have shifted. Parents are making their way up the work ladder but there could be financial pressures including a mortgage, a second car and supporting the needs of young children.

What if you were suddenly unable to work, even for just a few months? What if an accident or illness meant you were no longer around to help care for their family? How would mortgage repayments, school fees and living costs be met? Suggestions for this period include a selection from the previous three covers – Income protection, TPD and Trauma - as well as Life insurance.

Life stage - Mature couples and mature singles

You are reaching retirement and hopefully have a sense of financial security. But this is arguably the most important stage for your own personal insurance. Building a retirement fund, paying down a mortgage and supporting older children while facing statistically increasing health issues mixes great freedom with enormous responsibility.

Life insurance could be your priority. Also consider a mix of Income Protection, TPD or Trauma. If you're mature and self-employed, consider Business overheads cover, which looks after fixed operating expenses if you can't work due to illness or injury.

When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. Check with your electricity, water and gas providers on their recommended action plan.When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. 

When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. Check with your electricity, water and gas providers on their recommended action plan

When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. Check with your electricity, water and gas providers on their recommended action plan.When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. 

When dealing with potential flooding, the NSW State Emergency Service suggests to immediately disconnect your electricity, gas and water for safety reasons. Check with your electricity, water and gas providers on their recommended action plan

In 1958 and 1959, there was a controversy concerning the dual functions of the organization, operating as the central bank on the one hand and a commercial bank on the other. As a result, the government separated the two roles, creating the Reserve Bank of Australia to exercise the central bank function, and leaving the Commonwealth Banking Corporation to operate purely as a commercial bank. Those commercial functions were exercised by the organization's constituent sections: the Commonwealth Trading Bank of Australia, the Commonwealth Savings Bank of Australia, and the newly-formed Commonwealth Development Bank.