Protect what matters most with Flatmart insurance insights

Life is unpredictable and sometimes, even the best plans can be disrupted by illness, injury, or sudden loss. That’s why protecting your financial future is an important part of staying prepared. At Flatmart, we aim to help Australians better understand their insurance options and the role they play in providing peace of mind when it matters most.

There are four key types of personal insurance cover that work together to form a strong financial safety net: Life Insurance, Total and Permanent Disability (TPD), Trauma Insurance, and Income Protection. Each plays a different role in supporting individuals and families during challenging times.

• Life Cover pays a lump sum to your beneficiaries or estate in the event of your death or terminal illness. Allows you to pay off any existing debts, cover living expenses for your dependants, or provide the financial support you’d like to give them in your absence.

• TPD Cover pays you a lump sum if an illness or injury leaves you permanently disabled and unable to work, or perform normal domestic duties if you work in a home-maker role. Allows you to cover out-of-pocket medical expenses, home or transport modifications, support your ongoing financial needs and take care of your dependants.

• Trauma Cover pays you a lump sum in the event of certain types of serious illness or injury. Allows you to cover the cost of out-of-pocket medical expenses and financially support your lifestyle and family during an extended break for you (and potentially your spouse) from work as you recover.

• Income Protection pays you a monthly benefit to replace part of your income if you are temporarily unable to work as a result of serious illness or injury. Allows you to cover everyday living expenses and maintain the lifestyle you’ve built for yourself and your loved ones. Together, these insurance types can help provide a more complete level of protection not only for major life events but also for the everyday responsibilities that don’t pause when you’re facing health challenges.

Understanding the purpose and features of each cover type can help you make informed decisions based on your needs, stage of life, and financial goals. While we provide general information to help you explore your options, it’s important to read the relevant Product Disclosure Statement (PDS) and consider whether the cover is appropriate for your situation.

At Flatmart, we believe in empowering people with knowledge to protect what matters most. Whether you're thinking about securing your income, planning for your family's future, or preparing for the unexpected, understanding how insurance works is a smart step forward.

Explore your insurance options today because the best time to plan for tomorrow is now.

Frequently Asked Questions

Do I need all four types of cover?

It depends on your personal and financial circumstances. Some people need full protection across all four types, while others may only require a combination. An adviser can help you choose a suitable solution for your needs

How much cover do I need?

There’s no one-size-fits-all answer. It depends on your financial responsiblities and future plans.

Will my claim definitely be paid if I get sick or injured?

Insurers will pay valid claims if you meet the policy conditions. To avoid issues, always disclose your medical history accurately and understand what’s covered and excluded.

Can I get insurance through my superannuation fund?

Yes, you can typically hold Life, TPD, and some Income Protection policies through super. However, Trauma insurance is not available inside super and must be held separately.

What if I change jobs – does it affect my cover?

It depends on the policy. If your new job is riskier, your insurer may reassess future cover or claims. Let your adviser know if your occupation changes significantly.

Can I cancel my policy at any time?

Yes, you can cancel at any time. Keep in mind you may lose valuable benefits and might not be able to get the same cover again if your health has changed.