It’s crazy to think that Christmas is now just a few weeks away; which means parties, family get-togethers, and presents.
When was the last time you reviewed your personal insurances?
Most Australians have car insurance – but when it comes to insuring our greatest asset, ourselves, over 95% of us aren’t adequately insured.
If something unexpected were to happen to you or your spouse, how would your family be affected financially? Could your debts be repaid? Where would the family’s new source of income come from? Would you, or could you, cash in your assets?
Liberum Financial can provide you with personal insurance advice to financially protect yourself and your family in case anything unforeseen happens.
Personal protection insurance provides financial security to help you take care of yourself and your loved ones when you need it most.
How much cover should I have
The types of insurance and amount of cover required differ for everyone. Essentially, you need cover to provide you
What types of cover are available?
There are a number of different types of personal insurances that we may recommend to you, depending on your personal situation:
Life Insurance provides a lump sum payment for your family to ensure the plans you had for them can be achieved in the event of your death. It also enables the financial obligations of your business to be met.
Total & Permanent Disablement Insurance (TPD)
Total & Permanent Disablement Insurance provides a lump sum payment if you suffer an illness or injury and are permanently unable to work. This will help you maintain your current lifestyle while paying the additional expenses that arise as a result of an ongoing illness or injury.
Income Protection Insurance
Income Protection Insurance provides a regular earnings replacement if you suffer an illness or injury and are temporarily unable to work. This will help you maintain your and your family’s lifestyle until you are able to return to work.
Trauma insurance provides a lump sum payment if you suffer one of a list of major medical traumas (cancer, stroke, heart attack, etc) and will help you obtain the best medical and rehabilitation care and also give you the financial resources to make changes in your life as a result of the trauma.
Business Expense Insurance
Business expenses insurance reimburses the owner of a small, self-employed business for ongoing, fixed business expenses that continue to accrue while the owner is unable to work because of an illness or injury.
Buy/Sell Insurance provides a funding mechanism for the continuing owners of a business to purchase the share of an exiting business owner due to death or disability. This type of insurance is used in conjunction with a buy sell agreement.
Key Person Insurance
Key Person Insurance provides a lump sum payment to a business in the event of the death or disablement of an employee whose knowledge, work or overall contribution is considered uniquely valuable to the company.
What sort of insurances will Liberum Financial recommend?
The types of insurance and amount of cover required differ for everyone. Essentially, you need cover to provide you with enough funds to maintain you and your family’s current lifestyle. We can advise you on the right amount of cover to suit your personal circumstances.
What could your saving be?
We’ve been conducting complimentary risk insurance reviews with our clients and we’re thrilled to say that to date we’ve uncovered more than $18,000 of spare change, saving our clients more than 20% on their premiums on average. Not only that, but we’ve identified a number of policies that would never have paid out, putting the risk in risk protection.
Our complimentary risk insurance review has been designed to help you confirm that you and your family are sufficiently protected and that if you do have insurances in place – they are quality policies at the best premium.
To register your interest in the review, simply complete your details using the form and we’ll be in touch shortly.
Register for a complimentary risk insurance review
Could it happen to you?
Lifestyles, occupations, family, debt and assets all change over the course of our lives; it seems obvious that our personal insurances (or lack thereof) should too. Yet as we’ve seen with others, it’s an area that is easily overlooked, taken for granted, or not fully understood – which can be costly.
Unfortunately, a close friend of our business recently discovered this the hard way. After experiencing a traumatic accident, they found that they would miss out on an additional $90,000 worth of income per year for the next 30 years ($2.7 million in claims!), simply because they hadn’t updated their insurances to reflect their changing lifestyle and family.
We’ve designed our complimentary risk insurance review to help you confirm that you and your family are sufficiently protected and that if you do have insurances in place – they are quality policies at the best premium.
Register for the no cost, no obligation review today or contact our office if you’d like to discuss your personal situation.
Find out more about risk insurance in these recent blog posts
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.