Insurance

All About Income Protection Insurance & Why You Should Have It

July 25, 2024 These days, it seems like there’s an insurance policy for everything. Some of these insurance policies aren’t vital, but that’s not the case for income protection.  Unlike car or homeowner’s insurance, income protection isn’t as well-known. But that doesn’t mean it’s not important, especially in this economic climate. In fact, protecting your income is one...

Is it worth paying Income Protection insurance?

March 30, 2024 Whether it’s worth paying for Income Protection insurance depends on your individual circumstances, risk tolerance, and financial situation. Here are some factors to consider: Income Stability: If you have steady income from employment or self-employment and would struggle to cover your expenses if you are unable to work due to illness or injury, Income Protection...

Should I own Income Protection insurance inside superannuation?

March 30, 2024 Whether you should own Income Protection insurance inside your superannuation (super) depends on various factors including your personal circumstances, financial situation, and objectives. Here are some points to consider: Cost-effectiveness: Income Protection insurance inside super can sometimes be more cost-effective compared to purchasing it outside super. This is because super funds often purchase insurance policies...

Difference Between Workcover and Income Protection

March 30, 2024 WorkCover and Income Protection are two distinct types of insurance policies that serve different purposes: 1. WorkCover (Workers’ Compensation): WorkCover, also known as workers’ compensation, is a mandatory form of insurance that provides financial assistance to employees who are injured or become ill as a result of their work. It is a statutory scheme regulated...

What is a Buy-Sell Agreement

July 26, 2023 A Buy-Sell Agreement, also known as a Buyout Agreement or Business Continuation Agreement, is a legally binding contract commonly used in businesses with multiple owners or shareholders. The purpose of a Buy-Sell Agreement is to provide a framework for what happens to a business owner’s interest in the company if certain triggering events occur, such...

Does your super fund need a COVID-19 health check?

August 30, 2020 Through my recent research I have found that at least nine underlying group insurance policies within common superannuation funds have exclusions on their insurance benefits for pandemic illness events i.e. COVID-19. This basically means – the insurance company will not pay you (or your family) a claim benefit if you directly or indirectly contract COVID...

Five reasons to get financial advice before a personal insurance claim!

August 28, 2020 None of us ever really wants to be in a position to have to make a personal insurance claim, as it could mean something unfortunate has happened, however in our lifetimes it is likely we may fall in that position. Here’s five reasons why you should seek guidance first from a financial adviser when making...

Personal insurance in the Covid 19 world

August 28, 2020 "Explore the impact of the coronavirus on insurance coverage. Discover insights on claiming benefits for life insurance, Total & Permanent Disablement (TPD) cover, income protection, and critical illness cover in the context of COVID-19. Understand the nuances of meeting policy conditions, waiting periods, and specific criteria for each type of coverage. Uncover details about involuntary unemployment benefits and premium holidays, providing options for policyholders during these challenging times. Get informed about the conditions and criteria associated with each insurance type, offering clarity on potential claims related to the pandemic."