Insurance Update

Personal insurance helps protect your income and assets in the event of illness, injury, permanent incapacity, traumatic illness or death. It’s a key ingredient in a robust financial strategy, particularly if you have financial dependents or you’re building assets from personal effort to help fund retirement or future goals. 

Why have personal insurance?  

While many people consider personal insurance to pay out a mortgage should they die, fewer consider the significant financial impact disability or a serious ongoing illness could cause to them and their family.

Disability, trauma or prolonged illness can reduce your ability to earn an income, and in most cases, this will lead to drawing on savings or home equity to cover medical and daily living expenses, and ultimately affect your family’s living standard.

By providing a lump sum benefit or regular income, personal insurance such as life, disability, income protection and trauma insurance, can help ensure your family is supported financially should the unexpected happen.

There is a wide range of personal insurance products available, and many different clauses and options within each, so consider them carefully to find the one that best suits your needs.

How we can help you?

Our Advisers can help you by:

  • Creating an insurance solution to maximise tax effectiveness and to meet your cashflow requirements
  • Recommending the most appropriate and affordable insurance solution from top rating insurance providers
  • Working with you to arrange suitable insurance cover allowing for any existing medical conditions or non conforming occupations
  • Arranging insurance to meet the needs of business owners and partners, and
  • Structuring ‘family’ insurance packages within your Superannuation (including SMSF) to protect each generation – from young adults starting work, to young families, through to retirees.
  • Assisting SMSF Trustees to consider the insurance needs of its members, as required as part of their Investment strategy.

Your personal insurance consultation 

During your insurance consultation, your Adviser will work with you to complete a Personal Insurance Needs Analysis to identify  an appropriate level of cover.  We consider any existing policies you have, including those forming part of your employment arrangements – such as defined benefit death or disability pensions.

Following your consultation, you will receive your recommendations in a Statement of Advice.  This document outlines the types and level of cover recommended and the premiums, including commissions, payable. An explanation of how these levels of cover have been calculated and the cashflow impact is also included.

We will then assist you in applying for and completing the Life Companies Underwriting & Assessment.

Contact us on 08 6380 1400 for an obligation free meeting.

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