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…
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…
If you have a family and work in a high risk (and usually high income) occupation such as the mining industry, taking out life insurance could be a wise investment in your family’s future – it can help you ensure that in the event of your death your dependents receive adequate financial support and are…
A majority of Australians are significantly underinsured, with only 55 per cent of adult Australians having some form of life insurance; leaving a further 7 million adult Australians with no life insurance cover at all. Research shows that 60% of Australian families with dependents will run out of money within 12 months if the main…