If securing the financial future for you and your family is a high priority, then I urge you to read the important information below.

A well-constructed financial plan has two parts - wealth creation and wealth protection. 

Wealth creation is the part of your financial plan that helps you build the assets to meet your financial goals. Your goals may include saving for your children's education or a future overseas holiday, or having enough money to live comfortably when you retire.

Wealth protection (risk insurance) helps you protect your ability to create this wealth. Your wealth creation plan will be based on the assumption you will stay healthy and live to a certain age. But there may be unforseen circumstances which can impact your plans. Risk insurance may help you to continue meeting your financial goals if you lose your ability to work or suffer a serious illness.

Why Have Risk Insurance?

Risk insurance shifts the financial burden created by personal risks to insurers who can afford to cover them by pooling the premiums paid by their customers. It provides peace of mind that you and your family are financially secure by paying an ongoing income if you can't work because you're temporarily or permanently disabled, or if you die.

Different Insurance for Different Needs

Life Insurance

Life insurance can provide financial protection for your dependents if you die. The cost depends on the type of cover you choose. You should review your cover regularly to ensure you're not under or over-insured.

The most appropriate policy is one that strikes a balance between how much premium you can afford to pay and favourable policy conditions. To decide how much cover you need, it's important to consider:

• Your current assets and liabilities, especially the amount outstanding on your mortgage.

• How much you would need to maintain your family's standard of living.

• Whether you may need to pay for a housekeeper or day care for your children.

• Your children's school fees.

Life insurance can be used to repay debts, cover your dependents for the loss of your income and/or secure your business.

Total and Permanent Disability (TPD)

TPD is additional to life insurance cover. It pays a lump sum if you can't ever work again because of illness or injury. TPD can be used to repay your debts, cover capital gains tax liabilities and cover your dependants for the loss of your income.

The precise definition of TPD and the conditions that must be met to receive compensation vary considerably between insurance companies. So it's important you understand the conditions under which the insurance company will pay a claim before taking out TPD cover.

Income Protection

An income protection policy generally pays you up to 75% of your monthly income if you can't work due to illness or injury until the policy anniversary prior to your 65th birthday.

The premiums you pay on this type of policy are tax deductible. However, any payments you receive under the policy are classed as assessable income for tax purposes.

Trauma Insurance

Trauma insurance pays a lump sum if you suffer a specified traumatic event such as the diagnosis of cancer or coronary disease.

The benefit is paid when the diagnosis is confirmed, not when you die of the condition. This is important because it means you and your family have a lump sum you can use at your discretion, when you most need it. You could use it to pay for additional medical care, or to pay off the mortgage to relieve the financial pressure on your family.

Inside or Outside of Superannuation?

You can potentially benefit from tax deductions and cheaper costs when you hold insurance within superannuation. For this reason many super funds now offer insurance as an option in their products.

But you should be aware that there's a wider choice of insurance cover available outside superannuation.

Why Should You Understand the Insurance Cover?

When you take out insurance it's important to understand what you are covered for. You should look through the Product Disclosure Statement and any policy wording and if there's anything you aren't sure about, I can explain it to you. This may help you avoid any complications if you or your estate needs to make a claim.

Things You Should Consider

You need to be sure you are not over-insured or worse still, under-insured. The type and amount of risk insurance you may need depends on a number of factors such as:

• Your personal financial circumstances and objectives.

• Your lifestyle needs.

• How many dependents you have.

• Your age.

As your wealth grows and personal circumstances change, your need for insurance cover may also change, so it's important to review your insurance cover regularly.

I can help you find an appropriate insurance solution so you can be financially prepared for the unexpected. 

Melissa Wandall - True Story

Watch this video which has a true story about the importance of life insurance. 

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FREE Article - Is Your Family Safe?

Read this article which has a true story and information about insurance: Is Your Family Safe? 

The Facts 

• An estimated 106,000 new cases of cancer are diagnosed in Australia each year. ¹

• 1 in 2 men and 1 in 3 women will be diagnosed with cancer before age 85. ¹

• Cancer is the leading cause of death in Australia - killing more than 39,000 people each year. ¹

• More than 60% of cancer patients will survive more than 5 years after diagnosis. ¹

• Cardiovascular disease kills 1 Australian every 10 minutes. ²

• Cardiovascular disease prevents 1.4 million people living a full life due to disability from the disease. ²

• Around 1 in 6 Australian men suffer from depression at any given time. ³

• Women are twice as likely to experience depression than men. ³

What's next?

Do you want to secure the financial future for you and your family?

And would you like...

A FREE Appointment to review your insurance needs.

A FREE Protection Plan with recommendations to meet your insurance needs.

A BONUS 20% cash rebate on insurance premiums after the first year of your policy.  

Financial security and peace of mind is available for you and your family.  

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