A Safety Net for You and Your Family
A robust financial plan is only as strong as its safety net.
If your income stopped tomorrow due to illness, how long could you and your family maintain your lifestyle?
Are your assets held in the right structures to protect them from external risks?
Is your insurance cover a generic "off-the-shelf" policy, or is it tailored to your specific debt and family needs?
FAQs
Q: Why do I need professional advice for life and income insurance?
A: Most default insurance inside Super is insufficient for modern families. Professional advice ensures you have the right amount of cover and the right definition of cover, so it actually pays out when you need it most.
To put that in perspective, the median full-time wage in Australia is approximately $90,532 per year. If you have 25 years of work ahead of you, your future earning capacity is worth at least: $90,532 x 25 = $2,263,300
If you owned a home or car worth over $2.26 million, you wouldn't dream of leaving it uninsured. Your ability to work is the engine that builds your family's future; it deserves the same level of protection as any other multi-million dollar asset.
Q: Is income protection insurance tax-deductible?
A: Generally, if you pay for income protection outside of Super, the premiums are tax-deductible. This makes it a very cost-effective way to protect your greatest asset - your ability to earn an income. However, this could also be a cashflow imposition (particularly in the event of temporary unemployment) that your Super fund could shoulder. We can ensure you have the right structure in place to suit your specific needs.
Q: What is the difference between "Any" and "Own" occupation for TPD insurance?
A: This is a critical distinction. "Own" occupation pays out if you can't perform your specific job, whereas "Any" occupation only pays if you can't work in any role suited to your education or experience. We can help you navigate these arrangements so that you get the cover that is right for you.