While it can be easy to see the benefits of life insurance for people who have a partner or children who rely on them for financial support, there are also many reasons singles might consider protecting their financial independence. Click here for more information...
Whether you're thinking of buying your first home or are busy paying one off amid rising interest rates, a life insurance policy could protect your biggest financial investment if the unexpected happens. Click here to Read More...
PAID OFF LARGE DEBTS?TAKEN ON ANY NEW DEBTS?WELCOMED ANY NEW FAMILY MEMBERS?EMPLOYMENT CHANGED OR GOT A PROMOTION?HAS YOUR HEALTH IMPROVED - OR HAVE YOU STOPPED SMOKING?IF YOU ANSWERED "YES" TO ANY OF THESE QUESTIONS, YOU COULD BENEFIT FROM REVIEWING YOUR COVER WITH THE HELP OF YOUR FINANCIAL ADVISER. Read More ...
Latest APRA statistics on life insurance claims and disputes continue to demonstrate the advantage consumers who are advised have when compared to non-advised consumers. Read More ...
The corporate regulator has given life companies another 12 months to find a workable solution around applying maximum five-year terms for income protection insurance contracts. Click here for more details Image by Gerd Altmann from Pixabay...
The Financial Services Council has reassured Australians that taking a Covid-19 vaccine will not invalidate their life insurance policies despite what it says are false rumours suggesting otherwise.Image by torstensimon from Pixabay Read More ...
Total and Permanent Disability (TPD) Insurance provides a tax-free lump sum payment if you become permanently disabled due to accident or illness, and are unable to work.You can use a TPD payment however you wish: for medical services and treatments, ongoing care at home, or to cover living costs and household expenses so you can focus on your health.An exampleRussell suffered a stroke at work when he was 34 and his doctors determined he was unlikely to ever be able to work again. Under his TPD cover, he received $593,296, which he decided to use to pay off his mortgage and make some modifications to his home. He also invested some of the benefit payment and used this investment income to cover living expenses and ongoing rehabilitation costs.For more Case Studies, please visit talrealitycheck.com.au...
Income Protection insurance provides an alternative source of income, as a monthly payment, if you’re unable to work due to an illness or injury. It covers up to 75 percent of your normal income until you're able to go back to work or until the end of the benefit period.You can use the payments however you wish: to cover living costs and household expenses like mortgage repayments, groceries and utility bills, to support your family (school fees, for instance) or for rehabilitation services to help you get back to work as soon as possible.An exampleLaura was 27 when she was diagnosed with a brain tumour. Her treatment involved two surgeries, radiotherapy and chemotherapy. Laura’s Income Protection policy provided her with monthly disability benefits of around $250,000 in total, helping her focus on her health rather than worrying about her finances.For more Case Studies, please visit talrealitycheck.com.au...
Critical Illness Insurance provides a lump sum payment if you’re diagnosed with a serious illness like cancer or suffer a major health event, like heart attack or stroke.You can use a Critical Illness payment however you wish: for medical services and treatments, for support or ongoing care at home, or to cover living costs and household expenses so you can focus on your health.An exampleSophie was 52 when she was diagnosed with thyroid cancer. Under her Critical Illness cover, Sophie received $781,385 which she used to pay off her mortgage, cover her surgery bills and take a short holiday to recuperate before going back to work.For more Case Studies, please visit talrealitycheck.com.au...
Life Insurance provides a lump sum payment to your loved ones when you die or if you’re diagnosed with a terminal illness.Your family can use that payment however they choose: for day-to-day living expenses or mortgage repayments, to cover your kid’s school fees or to provide security for your partner’s retirement.An exampleMark was married for twenty years and has two teenage children. His wife passed away unexpectedly, leaving mortgage repayments and other debts to pay. Her Life Insurance benefit payment meant Mark was able to continue comfortably supporting his children without financial pressure.For more Case Studies, please visit talrealitycheck.com.au...