Imagine a medical practice owned by four GP’s. They each have a significant financial stake in the practice and rely on its income for their livelihoods. They are concerned about the impact of a worst case scenario involving accident or illness on themselves and their spouses. Therefore they seek advice on Buy-Sell insurance as follows: […]
Read MoreIncome Protection Insurance is changing on 1st Oct 2021
New government regulations have been introduced that will reduce the benefits available on new income protection policies established after 1 October 2021. If you currently have a comprehensive policy, or can get one in place by 1 October 2021, it will include a number of supplementary (and potentially valuable) benefits. From October 2021, however, these […]
Read More5 Reasons Why Life Insurance is Essential
No-one likes paying insurance premiums! Why is life insurance so important? Here are 5 key reasons: 1. Protection for you and your family Your family depend on your financial support to enjoy a decent standard of living, which is why insurance is especially important once you start a family. It means the people who matter […]
Read MoreIncome Protection Insurance – Upcoming changes in 2021
Income protection has been available in Australia for over 30 years and is designed to pay you a monthly benefit (usually up to 75% of your income) to help you cope financially when your income has stopped temporarily due to an accident or illness. Over time, the range of benefits and features offered through income protection […]
Read MoreRisk Insurance for Health Workers: Covid-19
Good news for frontline health workers – in a recent statement, the Financial Services Council announced it had obtained “a commitment on behalf of participating life insurance FSC member companies” to ensure that frontline workers were not prevented from obtaining life cover because of their exposure to coronavirus, including those who had applied for cover after […]
Read MoreConsumer Groups Tackle Funeral Insurance ‘Rip-Off’
A shame that consumers trying to do the right thing are being ripped off. The most cost effective way to fund a funeral is by building a small amount of extra cover into your life insurance policy (inside or outside of super, depending on circumstances). Article by Gerard Brody, Sep 3, 2013: A number […]
Read MoreSMSF Trustees: You Must Review Your Insurance Needs
Given the complexities of holding insurance cover through superannuation, the introduction of new regulations (SIS Regulation 4.09, effective from 2012/13 onwards) creates a need for many SMSF Trustees to review their insurance needs. Recent changes to the Superannuation Industry Supervision (SIS) Regulations have widened the scope of SMSF investment strategy considerations. This was […]
Read MoreBeen declined for Income Protection insurance because of your job? There is another way…
Have you been told by an insurer that your job is too risky, they don’t cover FIFO workers, you don’t work enough hours, or similar? You’re not alone. We have many clients who have found it difficult to get the Income Protection insurance cover they want. However just because you have been declined for Income […]
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