


RISK INSURANCE GUIDE
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Key concepts in life insurance
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Life cover
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Income protection
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Total and permanent disability (TPD)
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Trauma cover
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Business cover
Contents
Introduction
Broadly speaking, there are five types of life insurance:
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Life cover (this is sometimes called death cover);
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Income protection cover;
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Total and permanent disability cover (TPD);
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Trauma cover; and
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Business cover (for either business expenses or a key person in the business).
We will look at each of these in turn. But before we do, let’s look at a few general concepts that apply to all or most forms of life insurance.