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 has traditionally been difficult to get affordable income protection insurance if you engage in activities that are considered high risk, for example trail bike riding – but AIA Australia has provided trail bike riders with income insurance at standard rates since 2004. Several insurance providers offer income protection for trail bike riders, but it’s…
Zurich Financial Services Australia has long been regarded as an income protection insurance provider of the highest order, as evidenced by its string of national awards. In 2011, Zurich received the Review Smartinvestor Blue Ribbon Award and the Canstar Cannex Outstanding Value award for its Term Life and Total and Permanent Disability (TPD) product. Zurich…
All income protection insurance policies have waiting periods. The waiting period is the time between being declared unable to work and receiving your first insurance payment. When you sign up for an income protection plan you decide how long you wish the waiting period to be (it usually ranges from two weeks to two years).…
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 information from financial services company AXA only 6% of Australians have income protection insurance. Clearly the vast majority of the working population are unaware of the importance of having income protection insurance, a fact which has led major insurance companies to focus on increasing consumer awareness of the advantages of taking out an…
Income Protection Insurance and the benefits of protecting your superannuation Income protection insurance is an important way to safeguard your income and living expenses in case of an accident or illness that prevents you from working. With income protection insurance you can be comfortable knowing that your current standard of living could be maintained if…
A recent survey by Aviva revealed that 90% of families are living without income protection insurance. This is coupled with the fact that many families are relying on a sole income earner to provide financial stability and can’t afford to lose their entire income should unforeseen circumstances arise that would prevent the sole or main…
A recent AMP risk bulletin shows that women are vastly underrepresented when it comes to income protection insurance. According to AMP, women make up 40% of the insurance market and their total insured sum is only around 85% of the equivalent sum for men. It is believed this is partly due to women undervaluing themselves…