Insurance is used to compensate against rare events with intolerable consequences.
This means it should be used to ease the financial burden if one of those unlikely events were to occur. When someone is far from retirement, has large debts and/or has young children- insurance can be incredibly important to protect against the financial consequences of sickness, injury or death. There are many things to consider when selecting the right insurance policies and seeking financial advice can help ensure you set the policies up correctly from the outset. We can also assist with making changes to existing policies that may no longer be suitable for you.
We do not accept commissions on any products we recommend so you can be assured our recommendations are conflict free.
For clients with insurances policies set up by a previous financial adviser and still have commissions associated with their policies click here to read about our commission rebate service works and how we may be able to decrease the cost of these policies.
The main insurances we provide advice on are:
- Total and permanent disablement (TPD)
- Income protection
- Trauma/critical illness
Some things to consider when selecting insurances are:
- What value of cover do you need?
- Should premiums be funded from inside super, personally or a mixture of both?
- Do you want to draw a clear line between your insurance provider and your superannuation provider?
- Do you need own occupation TPD cover?
- Are stepped or level premiums more appropriate?
- Should the sums insured be indexed?
- What income protection benefit period is most suitable for you?
- Do you have any pre-existing health issues?