As a Police Officer, What Products Are Available To Me?
Life Insurance – Life insurance is generally available to all police officers and the policy has no special conditions that wouldn’t typically apply. Some of the more hazardous police roles (i.e bomb disposal) attract a premium loading which essentially increases the cost of the premium to compensate for the added risk (when compared with other roles.)
TPD (Total and Permanent Disability) Insurance – TPD insurance is generally only available to police officers that aren’t working in the previously mentioned ‘high risk’ roles. As well as this, generally only “Any Occupation” TPD insurance is available. “Any Occupation” generally refers to the fact that you will have to be deemed unable to ever work again, due to accident or illness, in any occupation that you have reasonable training or experience.
Income Protection Insurance – Similar to TPD Insurance, Income Protection insurance is generally only available to police officers that are working in less hazardous roles. As well as this, the type of policy that is available to police officers is slightly different to those working in jobs that are low-risk. One of the limitations is that the benefit period, the maximum amount of time you can be on claim, is restricted to a maximum of 5 years. As well as this, there are a number of other aspects of the policy that are different to a standard one. As a result, it is crucial to speak with one of our advisers so that you can fully appreciate what level of protection an income protection policy offers you.
Trauma Insurance – Similar to life insurance, trauma insurances is typically available to all members of the police force, regardless of their role. Police officers that are performing very high risk jobs might have to pay a premium loading to compensate for the added risk. Generally, there are no special conditions attached to trauma policies taken out but police officers, they are generally identical policies to those held by the rest of the population.
General Advice Disclaimer
General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.