There are a number of personal insurance options that are available to financially protect you and your family should the unthinkable occur. Several of these come under the umbrella of life insurance, which provides financial compensation in the event of death or the diagnosis of a terminal medical condition. Term Life Insurance Life insurance is…
Purchasing your insurance through a self-managed super fund (SMSF) may have a number of advantages over having it in your personal name. These include tax deductions on life insurance and total and permanent disability (TPD) insurance as well as improved cash flow due to the fact that your insurance premiums are being paid by your…
It’s common for seniors to be uncertain as to whether they need life insurance. Many seniors have achieved some major financial goals – they’ve paid off the house and sent their children through school. They only require day-to-day living expenses. But they may not realise the financial hardship they could put their spouse or other…
July 1, 2011 saw a change in the rules surrounding tax deductions for total and permanent disablement (TPD) insurance policies owned by a super fund. The changes ushered in by the Australian Taxation Office mean TPD premiums that come under the definition of “own occupation” are only partially tax deductible. Premiums that relate to the…
MLC Masterkey Business Super has introduced some exciting new features to its insurance product. Integral to its new and improved product is the Best Doctors medical information service. This service was established in 1989 to help people with significant illnesses connect to a worldwide network of leading specialists, so that they can get access…
According to a recent Harris Interactive poll, 91% of life insurance policy holders have spoken to their beneficiaries about their policy. However, 57% of them have not told their beneficiaries where the policy is located, which could pose potential problems when a claim needs to be filed. If you currently own a life insurance policy…
According to a recent survey by Harris Interactive, there are a number of different reasons why people decide to purchase life insurance, including getting married, starting a family and buying a house. Other reasons include a change of employment and starting a business. If you are single and have no dependants life insurance may not…
The future of income protection and life insurance is that it’s going to be more accessible, flexible and with an increased online presence if the results of the recent Advisor Choice Risk Awards are anything to go by. At the awards the top insurance companies were rewarded for their efforts in providing excellent service. Many…
If you work in the mining industry you will probably be aware of the challenges of getting life insurance in such a high risk occupation. Employees in certain high risk sectors, such as underground mining operatives and explosives handlers can find it extremely difficult or even impossible to obtain certain types of insurance, such as…
It is a popular misconception that life insurance is only for the family’s main income earner. When most people think about life insurance, they think of it as a means of protecting non working spouses and children from the sudden loss of income of the family breadwinner. Most people do not automatically associate life insurance…