As your wealth grows, it becomes increasingly important to protect the income and assets that underpin your family’s lifestyle. Unfortunately, even affluent Australians often neglect to protect themselves and their families against the potentially devastating effects of an unexpected death or disability.
Research from the National Centre for Social and Economic Modelling found that that 96% of Australian families with dependent children had inadequate insurance for their current financial needs.*
We can help you manage risk and safeguard the financial security you’ve worked so hard to build, with strategies to protect your assets and your family’s financial security.
See our blogs for some more information on and what you need to know about life insurance:
- Weighing up the value of life insurance
- Life insurance inside or outside of super?
- An insurance lifeline when you need it most
The following financial strategies illustrate the potential benefits of implementing various personal and business insurances.
Planning for the unexpected
Outlines key risks that can be addressed with insurance and the different types of cover available.
Life insurance myths busted
Explains some of the common reasons why people don’t take out insurance and the counter arguments for why they may want to consider it.
Protect your income
Explains how income protection insurance can replace up to 75% of pre‑tax income in the event of illness or injury.
Help protect your family’s living standard
Explains how insurance can be used to maintain a dependant family’s living standard in the event of death and disability.
Help protect the primary care-giver
Explains the importance of insuring the primary care-giver in the family and ways to go about it.
Make life and TPD insurance more affordable
Explains how it may be more affordable to take out life and TPD insurance in a super fund rather than outside super.
Protect your assets
Explains how insurance can be used to repay debts and protect assets used as security if a business owner dies or is seriously injured.
Protect your business’ revenue
Explains how insuring the key people in a business can help to offset a reduction in business revenue and cover the costs of finding and training a suitable replacement.
Protect your business ownership
Explains how funding a Buy Sell agreement with insurance can ensure an orderly transfer of ownership in the event that a business owner dies or is disabled.
Protect your income
Explains how clients who are self‑employed or run their business through a company or trust can use income protection insurance to replace up to 75% of their pre‑tax income if they are unable to work due to illness or injury.
Meet business expenses
Explains how business expenses insurance can enable small business owners to cover eligible business overheads if they are unable to work due to illness or injury.
Treat beneficiaries equitably
Explains how insurance can help clients who run a family business to ‘equalise’ their estate and ensure their beneficiaries are treated equitably.
* Understanding the social and economic cost of underinsurance, National Centre for Social and Economic Modelling, 2010