[INFOGRAPHIC] Looking for extra change in the lead up to Christmas?
It’s crazy to think that Christmas is now just a few weeks away; which means parties, family get-togethers, and presents.
It’s crazy to think that Christmas is now just a few weeks away; which means parties, family get-togethers, and presents.
As one of our clients recently learnt – it’s worth reviewing your personal protection insurance regularly and making changes as they are needed!
The ‘great Australian dream’ of home ownership is fairly widely accepted these days. It’s seen as natural to want to own your own home – or more specifically, a stand-alone home on a quarter acre block. But when you ask people why they want to own a home, it gets a bit more complicated. Things like security to raise a family, the ability to renovate and decorate, and the freedom to own pets are often cited. But those objectives shift when you’re heading towards retirement. That’s why it’s important to think about the role that homeownership plays in your overall retirement plan.
From the time you buy your home, to the life of your mortgage and beyond, the way you deal with your home as an asset can have a big impact on your quality of life once you’ve retired.
A common misconception about income protection insurance is that it’s only for high-earners, but this isn’t the case. In reality, no one can afford to be without this safety net, regardless of the amount of income you earn.
There are a number of factors that determine the cost of an insurance policy. A cheap life insurance or income protection insurance policy doesn’t necessarily mean it’s an inferior one, and by the same token, the most expensive policy may not be the best to suit your needs.
Have you considered Critical Illness cover? It’s a way of providing choices in the event that you suffer a serious or life-threatening illness, such as cancer, heart disease or stroke.
One of the biggest misconceptions around life insurance is that it’s solely designed to provide a payout if you die. But life insurance is relevant at all stages of life.
According to a recent research by an online comparison website, just 43% of Australians hold income protection. Significantly, more than half of those Australians who have a life insurance policy held within their superannuation believe it wouldn’t meet their family’s needs should the unexpected happen.
A recent report by Australian Securities & Investments Commission has found “significant shortcomings” with how claims are addressed in relation to life insurance. A report in The Australian reveals the claims and success rates across insurance claims to be staggering.