Insuring your future
Recently we have been asked numerous questions about personal insurances - life, TPD, Trauma cover and income protection as we come to terms with the changing environment and the new measures we need to take to protect ourselves and our community.
Our policy has always been to offer complementary insurance reviews as we believe people have the right to be informed of what is available - even more so now as it helps provide people with some piece of mind in this scary time.
An insurance review will involve an assessment/review of any cover you many have personally or inside super (most of us pay for insurance cover through super without even knowing) to see if it suits your needs and then, where appropriate, we can give you an indication of what could be suitable for you.
Before you you fill in the below survey to receive your complementary review what are the things you need to know!
What types of cover are there?
The table below provides a high level summary of the different types of insurance cover available to an individual:
Recently we have been asked numerous questions about personal insurances - life, TPD, Trauma cover and income protection as we come to terms with the changing environment and the new measures we need to take to protect ourselves and our community.
Our policy has always been to offer complementary insurance reviews as we believe people have the right to be informed of what is available - even more so now as it helps provide people with some piece of mind in this scary time.
An insurance review will involve an assessment/review of any cover you many have personally or inside super (most of us pay for insurance cover through super without even knowing) to see if it suits your needs and then, where appropriate, we can give you an indication of what could be suitable for you.
Before you you fill in the below survey to receive your complementary review what are the things you need to know!
What types of cover are there?
The table below provides a high level summary of the different types of insurance cover available to an individual:
Type |
Provides |
Ownership |
|
Life |
A lump sum benefit if you pass away |
Super or non-super |
15% if held within super |
TPD |
A lump sum benefit if you are totally and permanently disabled |
Super or non-super |
15% if held within super |
Trauma |
A lump sum if you suffer a ‘trauma’ event – eg: cancer, stroke, heart attack |
Non-super only |
None |
Income Protection |
An income stream if you are unable to work due to illness or injury |
Super or non-super |
15% if held within super or at your marginal tax rate if outside super |
Is insurance expensive?
The real question you should be asking yourself is what expense will you incur if you are unable to ever work again? Or could you afford to take time off if you or your partner suffered a cancer scare or any other traumatic medical event?
It’s a common misconception that taking out personal protection means that you will be incurring a large amount of additional cost as there is a number of ways the cover can be structured and held.
The perceived cost of insurance should never deter you from finding out what your options are.
Do I need to hold all types of cover?
If you died would your spouse be able to continue supporting the family alone? Would your family have to sell the house to get by if something were to happen to you? Did you know you can insure your children against certain events?
If you or your family rely on your income then the answer is you should be considering what insurances are applicable to you.
Going through life without insurance is like driving your car without a seat belt. Nobody knows what the future holds and we are all exposed to different risks many of which are out of our control. There is no magic amount of insurance to hold – it’s a case by case assessment.
Can you still get insurances if you don’t work? In a word YES!
Please fill in the survey which provide us with the info needed for the review and we will then be in touch!
The real question you should be asking yourself is what expense will you incur if you are unable to ever work again? Or could you afford to take time off if you or your partner suffered a cancer scare or any other traumatic medical event?
It’s a common misconception that taking out personal protection means that you will be incurring a large amount of additional cost as there is a number of ways the cover can be structured and held.
The perceived cost of insurance should never deter you from finding out what your options are.
Do I need to hold all types of cover?
If you died would your spouse be able to continue supporting the family alone? Would your family have to sell the house to get by if something were to happen to you? Did you know you can insure your children against certain events?
If you or your family rely on your income then the answer is you should be considering what insurances are applicable to you.
Going through life without insurance is like driving your car without a seat belt. Nobody knows what the future holds and we are all exposed to different risks many of which are out of our control. There is no magic amount of insurance to hold – it’s a case by case assessment.
Can you still get insurances if you don’t work? In a word YES!
Please fill in the survey which provide us with the info needed for the review and we will then be in touch!