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It is hard to understand what would happen if you or a close family
member or a business partner suddenly was unable to work, required
constant medical attention or tragically died too early. The emotional
impact is difficult enough and, without protection, the impact on your
assets whether it is the family home or your business can be
devastating. Yet, when it comes to wealth protection, it is one of the
most overlooked insurances. Contact us to make an appointment to
discuss wealth protection and the life insurance solution that best
suits you. Such as:
Life Risk Planning
What
plans have you in place to protect yourself from the roller coaster of
life? If something happened to you, could you afford the necessary
care? If you are the main breadwinner, what happens to your family?
When
it comes to insurance, we automatically cover our cars and our home and
contents and leave out the most important insurance - life insurance -
to protect us.
It is impossible to make plans to cover all
contingencies but what you can do is manage the impact by ensuring that
you and your family are protected. An important aspect in planning for
your retirement and building financial security is to ensure that you
are protected against the unexpected. We can help you to find the right
insurance cover for you. Contact us to make an appointment to see a
financial adviser. ^
Trauma Protection Planning
Are
you protected if you suffer from a heart attack, coma, malignant
cancer, chronic kidney failure or a major head injury for example?
With
the advances in modern medicines, more and more people are now
surviving major traumas such as heart attack, cancer, coronary artery
surgery. However, the recovery period and the cost of care associated
with illnesses normally places extreme financial strain on the person
suffering the illness.
Trauma protection (also known as critical
illness insurance) will insure you are covered for a range of
conditions from Alzheimer's to a stroke. It will enable you to pay for
specialist medical attention, help you to pay for modifications to your
home if required and will help you to avoid financial stress while you
recuperate by covering your expenses. ^
Life/Term Insurance
How will the bills get paid?
Life Insurance (or term insurance as it commonly called) pays a lump
sum on your death or the diagnosis of a terminal illness. Life
Insurance simply creates an asset when it is needed the most. While no
amount of money can ever replace a loved one, it can provide the
surviving members with financial security at a time when they are most
vulnerable. Life Insurance benefits can pay off the mortgage and other
debts, provide for your children’s current and future education needs
and act as a safeguard for your family’s financial wellbeing. ^
Income Replacement
If you lost your capacity to work due to illness or an accident,
would you have the means to continue to fund your daily life and meet
any loan repayments?
If you are unable to work because of sickness or injury, Income
Replacement Insurance provides you with a monthly payment to replace
your lost income.
Almost everything you have depends on your income or readily available assets. Even when income stops, the bills don’t.
Income Replacement policies will generally cover up to 75% of your
pre-tax income if you are sick or injured and are unable to generate
your usual income. Payments are made on a proportional basis equivalent
to your lost income. Many policies also include comprehensive
rehabilitation and other benefits, to help you get better sooner.
When deciding how long you may need to receive benefits whilst you
are sick or injured there are a number of options you can choose - 1, 2
or 5 years, or up to a certain age determined by you ie 55, 60, 65
years. Your decision should reflect the length of time you expect your
financial commitments to last.^
Income Protection Planning
What
happens to you and your family if you are unable to work due to
accident or illness? How will you manage your daily expenses, your
mortgage, car payments etc?
As our income is generally seen
as our biggest asset, it is extremely important that this asset is
protected. Your continued income earning capability is the single most
important factor enabling you to undertake any financial commitment.
Income protection is designed to replace income in the event of illness
or accident, which means less strain on savings, investment income and
other assets.
If you suffer an illness or injury, income
protection will insure you for an extended period of time up to 2 years
and will cover you for up to 75% of your salary to a maximum of
$10,000. For peace of mind, talk to us about income protection and
associated tax deductions on your premiums. ^
Disablement Protection Planning
What burden will you face if you have an accident or illness and you are unable to work?
Disablement
Protection will pay you a lump sum that will help you to pay for your
doctors, specialists, surgery and all associated costs. As part of
superannuation choice legislation, all employer superannuation funds
should have minimal disablement protection cover. In many cases for a
small increase in premium, you can insure that any burden due to
disablement is minimised. ^
Business Expenses Protection Planning
What happens to your business if you are unable to meet normal business expenses like rent, insurance or even advertising?
Business
overhead or business expense insurance is designed to cover the usual
fixed expenses incurred in maintaining a small business in the event
you are unable to work due to an injury or sickness. It is normally
only payable for up to 12 months and is useful for self employed
persons or those operating small businesses where business relies
solely or predominantly on the revenue generated by a key person to
meet those expenses. Whether you are a sole trader or a partner you can
protect your business by ensuring that your everyday business expenses
are covered. Talk to us about business expenses protection.^
General Insurance
While
most of us have our house and contents insured, the sums insured as
well as the suitability of the type of cover is quite often inadequate.
Generally, we should insure for full replacement value on a 'new for
old' basis. If you need help with general insurance, ie home and
contents, motor vehicle, commercial and business etc, we can refer you
to a general insurance broker. ^
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