In this month’s edition of Ask an Adviser, Financial Adviser Adam Winstone shares his insights on Wealth Protection.
While we all hope for good health, the reality is that some of us may struggle at times with sickness or injury. And that may affect your family’s financial wellbeing.
We caught up with Financial Adviser Luke Warren from our Armidale office to discuss Trauma Insurance. Having also practised law, Luke has seen firsthand the ramifications of things going awry in people’s lives. Such insight inspires him to help his clients in making the very best decisions for their financial future.
If you’ve owned an individual income protection or salary continuance policy in recent years, you may have seen your premiums increase as insurers struggled to cover their large losses on these products.
Many Australians continue to view life insurance and income protection as a discretionary item. This is in stark contrast to car or home insurance which are seen as necessities. It seems we are willing to insure our property but not the thing that matters most – our life and our ability to earn an income.
At a time when many people have been focused on their family’s health and livelihood, having adequate life insurance has never been more important. Yet the gap between what we need and what we have, has been growing.
Insurance may not be the most exciting element of your financial plan however being adequately insured can be one of the most important and valuable things you ever you do if the time comes that you need it.
Protecting your family from life’s unexpected
Recently, the Federal Government introduced the Protecting Your Super package. The intent behind the legislation is to ensure that the premiums for insurance policies inside super don’t erode the balance of inactive accounts. With the automation of closing Insurance accounts for those inactive accounts, many Australians could find themselves under-insured.
We've met many people who have had a claimable event in their lives, but not made the claim with their insurance. Without our help, they could have missed out. What does a financial planner do to help with insurance? What is the chance of my needing to use insurance? Do insurers really pay claims? What should I do if the worst happens?
Before you determine how much, there are some key variables to consider. We have a philosophy around ‘wealth protection’ that guides how we make those recommendations.
Find out what impact do factors have on your ability to buy life insurance.
Why travel insurance is a must for overseas adventures.
Am I better off buying insurance through my super?
Make sure your children are protected (and safeguard the retirement you’ve worked so hard for)
it's a simple process
