Should I Pay Off My Mortgage or Contribute to Super?
One of the most popular questions we are asked by our clients is whether it’s best to pay off their…
They say life and income protection insurance is like a parachute; if you don’t have it the first time you need it, you won’t need it again.
Alright, that might be a bit morbid, but it’s true. People insure their cars, their contents and their pets. But a lot of people forget to insure the biggest income-producing asset they have, themselves. The very nature of life means none of us truly knows what’s around the corner. So, if you have dependents, or your income revenue/s would cease if you fell ill, then it makes sense to consider life insurance and income protection.
There is no cookie cut-out single best income protection insurance in Australia. Instead, it comes down to intimately understanding the market and all the fine print and nuances. For instance, total and permanent disability insurance (also known as TPD) might be relevant for you, whereas trauma insurance could be less pertinent. It’s not up to you to be an expert in the market - that’s our job. Rest assured - we are committed to providing counsel that suits your situation and needs.
How do we go about providing that specialist counsel? Our insurance advice process involves understanding your personal and professional situation, the assets you need to protect and the level of risk you are comfortable accepting. From this, we can then advise on the most suitable policy for you.
A good risk management strategy progresses your financial plan independent of you income. In other words, if your paycheque stops coming in, your financial plan can still advance.
The reality is, most people can’t save the amount of money required to do that. So, we need to determine how much of that risk we would like to pass on to an insurer, that’s where we come in.
Our team can develop an insurance strategy that is personalised, flexible and affordable so that you can move forward with the peace of mind that you and your family are financially protected.
We’ve provided tailored insurance advice to Melbourne for over 5 years.
So why not contact us for a no-cost, no-obligation catch-up, and let’s find the best life and income protection insurance for you.
Insurance in Australia is a financial product offering protection against various risks and uncertainties. Common types include health, life, income protection, total and permanent disability, trauma, home and contents, car, travel, business, and landlord insurance. By paying a premium to an insurance company, policyholders receive compensation for specific losses or damages outlined in their policies, providing financial security and peace of mind.
In Australia, common types of insurance include health, car, home and contents, life, income protection, travel, business, and public liability. These provide coverage for various risks, such as medical expenses, vehicle damage, property protection, life protection, income replacement, travel emergencies, business risks, and liability claims. It's important to assess your specific needs and review policy terms to choose the right coverage for your circumstances.
Effective risk management is crucial in Australia for protecting assets, ensuring financial stability, maintaining business continuity, complying with legal obligations, facilitating informed decision-making, building stakeholder confidence, and reducing costs. By identifying and mitigating potential risks, individuals and organisations can safeguard their interests, navigate uncertainties, and mitigate the impact of disruptions. Proactive risk management is essential for long-term success and resilience in various aspects of life and business.
Insurance helps individuals and businesses by transferring the financial burden of certain risks to insurance providers. It provides financial protection against unexpected events and helps maintain business continuity and encourages risk mitigation practices and ensures compliance with legal obligations. Protection also offers peace of mind by offering a safety net against potential losses. It's important to assess risks, choose appropriate coverage, and consult professionals for effective risk management.
Financial planners can assist in identifying, evaluating, and prioritising risks, then guide you in implementing strategies that minimise the potential impact on your financial goals.
They expert advice on insurance planning, ensuring your plan is tailored to your needs and circumstances.
Disability insurance provides income if you're unable to work due to disability. The importance of this coverage and its role in your financial strategy can be thoroughly explained by our financial advisors in Melbourne.
Life insurance can - and should - be an essential part of your retirement planning. Our team can illustrate how this kind of risk protection can provide additional savings or income options for your golden years.
Key person insurance helps safeguard a business against the financial impact of losing a key individual. Connect with our financial advisors in Melbourne for advice on how to implement it effectively in your business strategy.
Homeowners insurance protects your home and its contents from unexpected events. Our team can guide you on its importance and help you choose suitable coverage.
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