Income Protection and Total and Permanent Disability

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Income Protection and Total and Permanent Disability"

Transcription

1 Income Protection and Total and Permanent Disability

2 Important information George s story and Leona s story are hypothetical stories and are included for illustrative purposes only. The names and identifying features do not reflect any particular person. The information and calculations in this brochure are correct as of 29 May CommInsure is a registered business name of The Colonial Mutual Life Assurance Society Limited ABN AFSL (CMLA). Any advice has been prepared without taking into account your objectives, financial situation and needs. Because of that, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. CMLA is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN The Commonwealth Bank of Australia and its subsidiaries (excluding CMLA) do not guarantee or in any way stand behind the Personal Insurance Portfolio products. Life and Income Protection form part of Personal Insurance Portfolio. Life and Income Protection and Personal Insurance Portfolio are issued by CMLA. A Product Disclosure Statement (PDS) describing this product is available from comminsure.com.au. You should consider the relevant PDS in deciding whether to acquire the product. The information on taxation is of a general nature only and is based on the continuation of present taxation laws, rulings and their interpretations. As individual circumstances differ, you should seek assistance from your taxation adviser. This information is provided by CommInsure. We can be contacted by phone, our web site or you can write to us. You pay us premiums or fees for the products that we provide to you. CommInsure does not charge you any additional fees for providing you with any general financial product advice. Employees who provide this service do not receive specific payments or commissions for the giving of the service but do receive salaries. Bonuses and other benefits may also be paid to employees including advisers employed by the Commonwealth Bank Group who may receive bonuses based around the sales of products.

3 Income Protection and Total and Permanent Disability Many Australians are leaving themselves open to possible financial difficulties should illness or injury occur, causing a loss of income. When it comes to insurance, income protection is often overlooked or misunderstood. A recent survey conducted by CommInsure revealed or highlighted that most people are unaware that income protection premiums are generally tax deductible, and, in the case of an injury or illness that prevents one from working, can provide payments up until the age of 65. Before retirement, one in three Australians will be away from work for more than three consecutive months due to sickness or injury¹, yet fewer than one in ten Australians have income protection². 1. Institute of Actuaries of Australia Interim Report of the Disability Committee, Commonwealth Bank Insurance Report, September Quarter 2004.

4 What is income protection? Income protection insurance protects your ability to earn an income should you suffer sickness or injury providing financial security for you and your family. In circumstances where you are permanently or even temporarily unable to work due to sickness or injury, it makes sense to have a financial contingency plan to help keep the wheels turning. It means your family s day-to-day expenses can be maintained without major financial upheaval. With income protection, you can insure up to 75% of your regular income, and up to 15% of your superannuation contributions (with the Super Continuance Option), the premiums of which are generally tax deductible. In general, once the waiting period has been satisfied (normally 30 to 90 days), benefits will be paid for the duration of the benefit period, which may be up to age 65. Note You select the most appropriate waiting period and benefit period for yourself at the time of application. Many people who do have income protection hold it within their superannuation³, however, the benefits are generally paid out for a maximum of two years. If you re sick or injured and can t work for an extended period of greater than two years, a dedicated income protection policy can provide regular monthly payments until you return to health or reach retirement at age Newspoll Survey, February ATO TD 98/27, tax determination.

5 Why CommInsure Income Protection? A tax efficient structure CommInsure s unique and innovative Total and Permanent Disability (TPD) Cover Option, available within an Income Protection policy, provides greater choice in the event of total and permanent disability, helping to maximise tax benefits whilst on claim. This option provides you with a choice at the time of claim of receiving a monthly benefit payment or a tax free lump sum cash payment. Key benefits Some of the key benefits that exist with the TPD Cover Option are: n You can receive a tax free lump sum payment in the event of total and permanent disability. n This option is available at no extra cost. n It allows you a choice between a lump sum payment and a monthly payment at the time of claim. n The own occupation Total and Permanent Disability definition applies. n No doubling up on TPD Cover via lump sum TPD and Income Protection contract (the saved premium can be used to provide further cover including trauma cover). n If the lump sum payment is selected: There is no requirement to continually certify your disability each month, up to the age of 65. It cannot be taken back, so if any medical advancement renders you healthy and capable of working, you don t need to worry about repaying the lump sum. Had you elected to receive an ongoing monthly benefit, however, payments may cease in the event that you are no longer deemed disabled. You have the opportunity to invest the lump sum benefit payment and generate an additional income stream.

6 How does it work? TPD Option provides the best of both contracts: an Income Protection and lump sum TPD Cover within the one Income Protection policy. Both TPD Cover and Income Protection have competing advantages, with some overlap of cover. Income Protection has expansive cover and tax deductible premiums, TPD on the other hand offers a lump sum payment and tax free benefits. CommInsure s TPD payment is calculated on an age-based formula and the client s Annualised Monthly Benefit. Our product provides up to 180 monthly Income Protection payments (taxable income) or a tax free lump sum up to a maximum value of $2.5 million (this is equivalent to 15 years of monthly benefits paid all at one time). Besides saving customers a significant amount of tax, and offering the benefit of cash upfront, the lump sum TPD payment also reduces the risk to the customer that their future Income Protection monthly benefit would cease or reduce because of improved health caused by medical advancement or in the unfortunate event of death before age 65. Payment of the lump sum also saves the claimant the hassle of ongoing proof of invalidity each month to receive their Income Protection payments. As an Australian first, and for the price of an income protection product only, CommInsure offers a combined product with the best of both worlds. To help CommInsure offer this, the Australian Taxation Office (ATO) has deemed 10% of the Income Protection premiums to be related to the TPD benefit and hence 90% of Income Protection premiums are tax deductible ATO tax ruling CR2005/15, 30 March 2005.

7

8 How to calculate the lump sum benefit Under the TPD Option, if, before the cover expiry date, you suffer a total and permanent disability, you can choose to receive a tax free lump sum benefit instead of the monthly benefit. The lump sum benefit is calculated as the lesser of either: n $2.5 million or n an amount equal to an age-based multiple of the Annualised Monthly Benefit, where the Annualised Monthly Benefit is twelve times the total of your monthly benefit and any Super Continuance monthly benefit. Age-based multiple is: Age next birthday Multiple Less than 40 years to 44 inclusive to 49 inclusive to 55 inclusive 9 56 or more 65 minus their age next birthday when the lump sum benefit becomes payable If the lesser of the above amounts is a nil or negative amount, no lump sum benefit is payable. Formula: TPD lump sum benefit = Annualised Monthly Benefit x multiple

9

10 George s story George (42) is an accountant and earns an annual income of $130,000. He suffers from a heart attack that leaves him totally and permanently disabled. Luckily George had selected the TPD Cover Option as part of his Income Protection policy and is entitled to receive a monthly benefit of $8,000. Age 42 years Monthly benefit = $8,000 Years to age 65 = 23 Multiple for TPD Option = 13 Monthly benefit payment Total benefit (to expiry age) $8,000 x 12 1 = $96,000 x 23 2 = $2,208,000 5 (pre tax) = $1,571,130 (post tax) Lump sum payment Total benefit $8,000 x 12 1 = $96,000 x 13 3 = $1,248,000 4 Although the net after tax payment total benefit is greater than the total benefit paid under the TPD Option, this is only half the picture. If George can earn a return of as little as 2.94% (pre tax), then it is better for him to take the lump sum and invest it. Assumptions The lump sum benefit is calculated as the lesser of: $2.5 million or an amount equal to A (factor) times the Annual Monthly Benefit. Assumes 2006/07 taxation rates and includes 1.5% Medicare levy. 1. Annualised Monthly Benefit is twelve times the total of your monthly benefit. 2. Years remaining to reach age A is 13, if your age next birthday is between the ages of 40 and 44 inclusive. 4. If the TPD benefit is taken as a lump sum it will be treated as a tax free payment. 5. If the payment is taken as an Income Protection monthly benefit, it will be treated as income and be taxable for income purposes.

11

12 Leona s story Leona is a personal assistant and has an annual income of $50,000. She is involved in a car accident and her injuries have left her totally and permanently disabled. Because she has the TPD Cover Option, at no extra cost to her Income Protection policy, she receives a claims payout of $3,125 per month. Age 42 years Monthly benefit = $3,125 Age-based multiple = 13 Monthly benefit payment Total benefit (to expiry age) $3,125 x 12 1 = $37,500 x 23 2 = $862,500 5 (pre tax) = $697, (post tax) Lump sum payment Total benefit $3,125 x 12 1 = $37,500 x 13 3 = $487,500 4 If Leona can earn a return of 6.49% (pre tax) then it is better for her to take the lump sum and invest it. Assumptions The lump sum benefit is calculated as the lesser of: $2.5 million or an amount equal to A (factor) times the Annual Monthly Benefit. Assumes 2006/07 taxation rates and includes 1.5% Medicare levy. 1. Annualised Monthly Benefit is twelve times your monthly benefit. 2. Years remaining to reach age A is 13, if your age next birthday is between the ages of 40 and 44 inclusive. 4. If the TPD benefit is taken as a lump sum it will be treated as a tax free payment. 5. If the payment is taken as an Income Protection monthly benefit, it will be treated as income and taxable for income purposes. 10

13

14 Why CommInsure? Over the past year, CommInsure has received a number of awards recognising our award-winning product range, excellent customer service and our commitment to leading industry and consumer education by building awareness of the need for insurance. Our awards include: n Most Innovative Income Protection Product Asset Magazine Awards 2006 n Life Insurance Company of the Year Australia and New Zealand Institute of Insurance & Finance Awards 2005 n Best Life Insurance Company Australian Banking & Finance Insurance Awards 2005 n Best Life Insurance Product Australian Banking & Finance Insurance Awards 2005 n Term Life Product of the Year Personal Investor Magazine Awards for Excellence in Financial Services 2005 n Trauma Product of the Year Personal Investor Magazine Awards for Excellence in Financial Services 2005 (joint winner) n Best Call Centre Australian Banking & Finance Insurance Awards 2005 Life Insurance Company of the Year 2005 Best Life Insurance Company and Best Life Insurance Product 2005 Term Life and Trauma Product of the Year

15

16 Like to know more? Speak with your adviser or Call call us us now now on on am 8 pm Mon Fri comminsure.com.au CIL

Income Care with either monthly or lump sum benefits

Income Care with either monthly or lump sum benefits Income Care with either monthly or lump sum benefits Important information This advice has been prepared by CommInsure, a registered business name of The Colonial Mutual Life Assurance Society Limited

More information

Income Care with either monthly or lump sum benefits

Income Care with either monthly or lump sum benefits Income Care with either monthly or lump sum benefits Important information This advice has been prepared by CommInsure, a registered business name of The Colonial Mutual Life Assurance Society Limited

More information

Why would you want to consider insurance? We pay claims

Why would you want to consider insurance? We pay claims SMSF Plan CommInsure s SMSF Plan is a customised, easy to use product designed to offer SIS-aligned cover to SMSF trustees. This has the potential to reduce the compliance burden on trustees when selecting

More information

Aviation Cover. Income Protection

Aviation Cover. Income Protection Aviation Cover Income Protection B Important information This advice has been prepared without taking account of your objectives, financial situation or needs. Because of that, before acting on the advice,

More information

Australia s $3.1 trillion underinsurance crisis

Australia s $3.1 trillion underinsurance crisis Australia s $3.1 trillion underinsurance crisis February 2012 CommInsure Life Insurance Survey Source: CommInsure Life Insurance Survey 2011 The underinsurance issue Australians are currently underinsured

More information

CommInsure Protection

CommInsure Protection CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy Issue date: 11 May 2014 Product Disclosure Statement This Product Disclosure Statement (PDS) is issued by the insurer, The Colonial

More information

Update to CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy

Update to CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy Update to CommInsure Protection Combined Product Disclosure Statement (PDS) and Policy Effective 25 June 2014, this document updates the Sum m ary of incom e p ro t ect ion d if f erences in sid e an d

More information

Personal Insurance Portfolio

Personal Insurance Portfolio Personal Insurance Portfolio Product Disclosure Statement (PDS) Preparation date: 26 September 2005 This PDS contains information about the following products: Income Care basic income protection insurance

More information

The value of life insurance

The value of life insurance The value of life insurance Important information CommInsure Protection is an insurance product which is offered through the Colonial Super Retirement Fund ABN 40 328 908 469 (the Fund). Colonial Mutual

More information

The value of life insurance

The value of life insurance The value of life insurance Most of us think it won t happen to me And if you are very lucky, it might not. But, chances are, many of us will have our lives interrupted by an accident, illness or death.

More information

Important information:

Important information: SMSF insurance Important information: This document has been prepared by CommInsure, a registered business name of The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA).

More information

COMMINSURE PROTECTION

COMMINSURE PROTECTION COMMINSURE PROTECTION SUPPLEMENTARY COMBINED PRODUCT DISCLOSURE STATEMENT AND POLICY Issue date: 18 October 2015 This Supplementary Combined Product Disclosure Statement (SPDS) and Policy supplements the

More information

ADAPTABLE INSURANCE FOR LIFE. INSURANCE INSIDE SUPER. Case studies include the Total Care Plan Super Rollover discount (TCPS RD)

ADAPTABLE INSURANCE FOR LIFE. INSURANCE INSIDE SUPER. Case studies include the Total Care Plan Super Rollover discount (TCPS RD) ADAPTABLE INSURANCE FOR LIFE. INSURANCE INSIDE SUPER Case studies include the Rollover discount (TCPS RD) Adaptable insurance for life. s needs and budgets can change they move jobs, get married, have

More information

BT Business Super. Additional Information Booklet Part 3 Insurance. Dated: 1 July 2015 Last updated: 1 July 2015

BT Business Super. Additional Information Booklet Part 3 Insurance. Dated: 1 July 2015 Last updated: 1 July 2015 BT Business Super Additional Information Booklet Part 3 Insurance Dated: 1 July 2015 Last updated: 1 July 2015 About this Additional Information Booklet This document is Part 3 of the Additional Information

More information

Investment Growth Bond

Investment Growth Bond Investment Growth Bond A flexible tax-effective investment Simple Guide simple and quick Who should invest? The Investment Growth Bond has been designed for investors: seeking a simple, tax effective,

More information

Life and Income Protection

Life and Income Protection Life and Income Protection Product Disclosure Statement (PDS) Preparation date: 26 September 2005 This PDS contains information about the following products: Income Protection income protection insurance

More information

WA Super Insurance Guide

WA Super Insurance Guide MY SUPER APPROVED WA Super Insurance Guide The information in this document forms part of the WA Super Product Disclosure Statement, November 2013 You should read the PDS in conjunction with this Member

More information

LIFE, DISABILITY AND INCOME PROTECTION

LIFE, DISABILITY AND INCOME PROTECTION This document forms part of the NGS Super Member Guide (Product Disclosure Statement) dated 14 August 2015 LIFE, DISABILITY AND INCOME PROTECTION * FACT SHEET 6 14 AUGUST 2015 It s vital that you re prepared

More information

are you financially well organised? Risk Plan your family s finanical security www.financiallywellorganised.com info@fwo.net.au

are you financially well organised? Risk Plan your family s finanical security www.financiallywellorganised.com info@fwo.net.au are you financially well organised? Risk Plan your family s finanical security info@fwo.net.au Your family s financial security... If you were to pass away, would your family s financial security be assured?

More information

Rehabilitation Assistance with Commlnsure. Income Protection

Rehabilitation Assistance with Commlnsure. Income Protection Rehabilitation Assistance with Commlnsure Income Protection Getting you back in business If you ve been out of action due to illness or injury, getting yourself back into the workforce can be a hard task

More information

Insurance through your super

Insurance through your super Insurance through your super Review my cover Save on insurance through Super $ TPD insurance income protection Death We insure many aspects of our lives: house, car, health, life, even pets. Of all of

More information

protecting you and your family

protecting you and your family protecting you and your family Insurance guide Effective 1 July 2015 Issued by CSF Pty Limited ABN 30 006 169 286, AFSL 246664, Trustee of the MyLifeMyMoney Superannuation Fund ABN 50 237 896 957 mylifemyinsurance.com.au

More information

Protecting you and your family. Insurance guide. www.csf.com.au. Effective 1 April 2014

Protecting you and your family. Insurance guide. www.csf.com.au. Effective 1 April 2014 Protecting you and your family Insurance guide Effective 1 April 2014 www.csf.com.au Issued by CSF Pty Limited ABN 30 006 169 286, AFSL 246664, Trustee of the Catholic Superannuation Fund ABN 50 237 896

More information

Insurance for business

Insurance for business Insurance for business This advice has been prepared without taking account of your objectives, financial situation or needs. Because of that, before acting on the advice, you should consider the appropriateness

More information

BT Lifetime Super Employer Plan

BT Lifetime Super Employer Plan BT Lifetime Super Employer Plan Additional Information Booklet Part 3 Insurance Dated: 1 July 2015 Last updated: 1 July 2015 About this Additional Information Booklet This document is Part 3 of the Additional

More information

Rehabilitation assistance with Commlnsure. Income Protection

Rehabilitation assistance with Commlnsure. Income Protection Rehabilitation assistance with Commlnsure Income Protection 2 This advice has been prepared by CommInsure, a registered business name of The Colonial Mutual Life Assurance Society Limited ABN 12 004 021

More information

Protect your family. ClearView LifeSolutions. Life Cover, Trauma Cover and other tailored insurances

Protect your family. ClearView LifeSolutions. Life Cover, Trauma Cover and other tailored insurances Protect your family ClearView LifeSolutions Life Cover, Trauma Cover and other tailored insurances Insurances to meet your needs Defence Health has partnered with ClearView to provide an extensive range

More information

Insurance in Prime Super

Insurance in Prime Super Insurance in Prime Super September 2015 This fact sheet outlines why insurance is important and the benefits of having insurance through your super account. Why is insurance so important? Insurance is

More information

Understanding Superannuation

Understanding Superannuation Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation

More information

ANZ Super Advantage INSurANce GuIde

ANZ Super Advantage INSurANce GuIde ANZ Super Advantage Insurance Guide 27 February 2012 ANZ Super Advantage Entity details in this Insurance Guide Name of legal entity Registered numbers Abbreviated terms used throughout this Guide OnePath

More information

Important changes to insurance

Important changes to insurance Important changes to insurance Effective 1 July 2013 rest.com.au 1800 063 627 Contents Why have these changes been made? 2 New cover levels 2 New insurance costs 5 Access to higher cover under the new

More information

Income Protection Fact Sheet

Income Protection Fact Sheet Income Protection Fact Sheet Who should read this fact sheet? The information in this fact sheet applies to most Defined Contribution (accumulation) members of Energy Super. It is not relevant to Defined

More information

Understanding insurance Version 5.0

Understanding insurance Version 5.0 Understanding insurance Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. This document

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority Protection for Platform Investors Product Disclosure Statement Version 12, Issued 8 June 2013 aia.com.au Life s better with the right partner Who issues Priority Protection for Platform Investors?

More information

Understanding insurance

Understanding insurance Version 4.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to. Important information This document has been published

More information

Understanding Insurance

Understanding Insurance Understanding Insurance Preparation Date: 26 November 2007 How to read this document Managing your finances to meet your day to day requirements as well as your long-term goals can be a complex task. There

More information

Financial Services Guide

Financial Services Guide Financial Services Guide Issued: 1 November 2013 In this Financial Services Guide (FSG), we, our, us or AEGON means AEGON Direct & Affinity Marketing Services Australia Pty Ltd (ABN 35 082 524 785) with

More information

CommInsure Protection

CommInsure Protection CommInsure Protection Supplementary Product Disclosure Statement (SPDS) and Reference Document Supplement Supplementary Product Disclosure Statement (SPDS) Preparation date: 3 August 2010 This Supplementary

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know contents 1 Even 2 Inside 3 Your 4 tpd, non-income earners need to be insured or Outside super? insurance needs change on an annual basis Income Protection, Life Insurance

More information

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement

Simply Smarter Life Insurance. Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Simply Smarter Life Insurance Budget Direct Life Insurance and Budget Direct Accidental Death Insurance Product Disclosure Statement Budget Direct Life Insurance and Budget Direct Accidental Death Insurance

More information

In this time of fiscal responsibility, businesses need to. Employee benefits better in super

In this time of fiscal responsibility, businesses need to. Employee benefits better in super 46 Insurance Jeffrey Scott, executive manager, InsuranceTech, CommInsure Jeffrey Scott joined CommInsure in June 2002, and was promoted to his present role of executive manager InsuranceTech, in January

More information

Insurance in your super

Insurance in your super Insurance in your super Fact sheet Information in this fact sheet is current as at 1 July 2015 Contents Overview 1 What is Life cover? 5 How your Life cover works 6 When is your insured benefit payable?

More information

Insurance delivering peace of mind. Your guide to insurance at Plum

Insurance delivering peace of mind. Your guide to insurance at Plum Insurance delivering peace of mind Your guide to insurance at Plum Contents Why insurance matters 2 Types of cover 4 What s right for me? 7 1 Safeguarding you and your family Life is unpredictable. From

More information

Insurance and estate planning. A Financial Planning Technical Guide

Insurance and estate planning. A Financial Planning Technical Guide Insurance and estate planning A Financial Planning Technical Guide 2 Insurance and estate planning Introduction 4 General insurance 4 Private health insurance 4 Personal insurance 5 Business insurance

More information

Insurance guide. SignatureSuper MetLife fact sheet. Issued ₁ July ₂₀₁₅

Insurance guide. SignatureSuper MetLife fact sheet. Issued ₁ July ₂₀₁₅ Issued ₁ July ₂₀₁₅ Insurance guide SignatureSuper MetLife fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. The information in this document forms part of the

More information

Tasmanian Accumulation Scheme Death and Incapacity Cover

Tasmanian Accumulation Scheme Death and Incapacity Cover Death and Incapacity Cover Retirement Benefits Fund Tasmanian Accumulation Scheme Death and Incapacity Cover Information in this brochure is current as at 18 January 2012 Retirement Benefits Fund Tasmanian

More information

Priority Protection for Platform Investors

Priority Protection for Platform Investors Priority for Platform Investors Product Disclosure Statement Version 1.1, Date Prepared 22 August 2014 Life s better with the right partner Important Notes This Product Disclosure Statement ( PDS ) describes

More information

Understanding Insurance

Understanding Insurance Version 4.0 Preparation Date: 2 November 2009 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to insurance. Important

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know 2 Insurance facts you should know Contents 1 Even non-income earners need to be insured 2 Inside or Outside super? 3 Your insurance needs change on an annual basis 4 Different

More information

MLC Insurance Enjoy life

MLC Insurance Enjoy life MLC Insurance Enjoy life Enjoy life! Enjoying life is all about living today. But it s not always easy if you are worried about tomorrow. So rather than worrying about what may or may not happen, insure

More information

How much insurance cover?

How much insurance cover? How much insurance cover? We consider life and TPD insurance coverage to be family protection it is about protecting your family. Life Insurance The purpose of life insurance is to provide your dependants

More information

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance...

What is insurance?... 3. What types of insurance are there?... 4. Life insurance... 5. Total and Permanent Disability insurance... Contents What is insurance?... 3 What types of insurance are there?... 4 Life insurance... 5 Total and Permanent Disability insurance... 6 Trauma insurance... 7 Income Protection insurance... 8 Insurance

More information

Adviser Tax Guide ONECARE 1 JULY 2014 ANZ WEALTH

Adviser Tax Guide ONECARE 1 JULY 2014 ANZ WEALTH Adviser Tax Guide ONECARE 1 JULY 2014 ANZ WEALTH This guide is current at 1 July 2014 and is subject to change. Updated information will be available free of charge from onepath.com.au or by calling 1800

More information

Flexible Lifetime Super

Flexible Lifetime Super Issued ₁ July ₂₀₁₅ Flexible Lifetime Super Insurance fact sheet Registered trademark of AMP Life Limited ABN 84 079 300 379. This document is a fact sheet for the product disclosure statement (PDS) dated

More information

Superannuation. A Financial Planning Technical Guide

Superannuation. A Financial Planning Technical Guide Superannuation A Financial Planning Technical Guide 2 Superannuation Contents Superannuation overview 4 Superannuation contributions 4 Superannuation taxation 7 Preservation 9 Beneficiary nomination 9

More information

A Financial Planning Technical Guide

A Financial Planning Technical Guide Insurance and Estate Planning A Financial Planning Technical Guide Securitor Financial Group Limited ABN 48 009 189 495 AFSL 240687 Contents Introduction 1 General insurance 1 Private health insurance

More information

Insurance guide. SignatureSuper AMP Life fact sheet. Issued ₁ July ₂₀₁₅

Insurance guide. SignatureSuper AMP Life fact sheet. Issued ₁ July ₂₀₁₅ Issued ₁ July ₂₀₁₅ Insurance guide SignatureSuper AMP Life fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. The information in this document forms part of the

More information

Priority Protection for Platform Investors Supplementary Product Disclosure Statement

Priority Protection for Platform Investors Supplementary Product Disclosure Statement Priority for Platform Investors Supplementary Product Disclosure Statement 1 July 2014 Life s better with the right partner This Priority for Platform Investors Supplementary Product Disclosure Statement

More information

SMSF insurance options and strategies

SMSF insurance options and strategies SMSF insurance options and strategies Agenda Will be looking at: Requirement to consider insurance Why hold insurance through an SMSF? Life Insurance Permanent Incapacity Temporary Incapacity. Requirement

More information

Issued ₁ July ₂₀₁₅. Insurance Guide. SignatureSuper AIA fact sheet. AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379.

Issued ₁ July ₂₀₁₅. Insurance Guide. SignatureSuper AIA fact sheet. AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. Issued ₁ July ₂₀₁₅ Insurance Guide SignatureSuper AIA fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. The information in this document forms part of the product

More information

ANZ Smart Choice Super. Insurance Guide For employers and their employees

ANZ Smart Choice Super. Insurance Guide For employers and their employees ANZ Smart Choice Super Insurance Guide For employers and their employees INSURANCe GUIDE 11 NOVEMBER 2013 ANZ Smart Choice Super Entity details in this Insurance Guide Name of legal entity Registered numbers

More information

Superannuation Tips and Traps. Kim Guest / Tim Sanderson March 2014

Superannuation Tips and Traps. Kim Guest / Tim Sanderson March 2014 Superannuation Tips and Traps Kim Guest / Tim Sanderson March 2014 Disclaimer This presentation is given by a representative of Colonial First State Investments Limited AFS Licence 232468, ABN 98 002 348

More information

Super move enhancements to your plan. Notice to members of BT Business Super ( BT Super )

Super move enhancements to your plan. Notice to members of BT Business Super ( BT Super ) Super move enhancements to your plan Notice to members of BT Business Super ( BT Super ) Contents 1_Overview 2_Changes to Fees and other costs Reduced Administration fees 4 Reduced Investment Manager Charge

More information

Priority Protection. Product Disclosure Statement Version 13, Date Prepared 1 March 2014. Life s better with the right partner

Priority Protection. Product Disclosure Statement Version 13, Date Prepared 1 March 2014. Life s better with the right partner Priority Product Disclosure Statement Version 1, Date Prepared 1 March 2014 Life s better with the right partner Important Notes This Product Disclosure Statement ( PDS ) describes the main features of

More information

Name : Joe Bloggs Quote Id : Q810742 Date of Birth : 01/01/1985 Quote Creation Date : 05/06/2015 Age Next Birthday : 31 Current Date : 18/06/2015

Name : Joe Bloggs Quote Id : Q810742 Date of Birth : 01/01/1985 Quote Creation Date : 05/06/2015 Age Next Birthday : 31 Current Date : 18/06/2015 Full Quote Report Thank you for considering AIA Australia as your life insurance provider. We are pleased to provide you with the following quote report. Life Insured Quote Details Name : Joe Bloggs Quote

More information

Financial Planning 101

Financial Planning 101 Hughes Forbes Financial Services AFSL 323719 Financial Planning 101 P R E S E N T E D BY F A B I A N P O S T I G L I O N I M a y 2 0 1 2 Disclaimer 2 This material is not intended to constitute personal

More information

Insurance request VicSuper FutureSaver

Insurance request VicSuper FutureSaver GPO Box 89 Melbourne Vic 3001 VicSuper Member Centre 1300 366 216 vicsuper.com.au Insurance request VicSuper FutureSaver * Indicates that providing this information is mandatory. Not doing so may delay

More information

Insurance Guide. Super. 1 October 2015

Insurance Guide. Super. 1 October 2015 Super Insurance Guide 1 October 2015 The information in this document forms part of the Product Disclosure Statement (PDS) for the Mine Wealth and Wellbeing Superannuation Fund. You should read the PDS

More information

SUPERANNUATION. Integra Super OnePath Life Limited. Insurance Guide

SUPERANNUATION. Integra Super OnePath Life Limited. Insurance Guide SUPERANNUATION Integra Super OnePath Life Limited Insurance Guide 27 February 2012 Integra Super Entity details in this Insurance Guide Name of legal entity Registered numbers Abbreviated terms used throughout

More information

Your Super Guide. Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category. Contents. Important Information

Your Super Guide. Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category. Contents. Important Information Australia Group Superannuation Fund Your Super Guide Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category Contents 1 About Nestlé Super p2 2 How super works p2 3 Benefits

More information

Insurance. Who should read this? What you re covered for. What you should know up front. Why should I have Death, TPD and IP cover?

Insurance. Who should read this? What you re covered for. What you should know up front. Why should I have Death, TPD and IP cover? PSSap11 04/12 Insurance Who should read this? Members who want information about death, total permanent disability (TPD) income protection (IP) insurance. What you should know up front It is important

More information

The benefits of insuring through super. Macquarie Life

The benefits of insuring through super. Macquarie Life The benefits of insuring through super Macquarie Life While your clients are accumulating wealth, they also need to ensure adequate insurance cover is in place so they and their families are looked after

More information

Asgard Personal Protection Package

Asgard Personal Protection Package Asgard Personal Protection Package Supplementary Product Disclosure Statement (SPDS) This SPDS is dated 1 February 2009 and relates to the Product Disclosure Statement (PDS) dated 18 February 2008 for

More information

A simple guide to Life Insurance

A simple guide to Life Insurance A simple guide to Life Insurance Your guide to Life, Income Protection, Trauma, and Total & Permanent Disability Insurance. Lifebroker Pty Ltd ABN 92 083 177 011 Introduction Why do I need personal insurance?...

More information

ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014. Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724

ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014. Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014 Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 CONTENTS Introduction... 1 Recent developments in superannuation...

More information

Your insurance options with Prime Super (Prime division)

Your insurance options with Prime Super (Prime division) FACT SHEET Your insurance options with Prime Super (Prime division) Now incorporating 1 May 2014 If something were to unexpectedly go wrong, life insurance is a vital safety net to protect your loved ones.

More information

Member Booklet: RBF Tasmanian. Accumulation Scheme. Table of contents. About the RBF Tasmanian 2. Accumulation Scheme

Member Booklet: RBF Tasmanian. Accumulation Scheme. Table of contents. About the RBF Tasmanian 2. Accumulation Scheme Member Booklet: RBF Tasmanian Accumulation Scheme Information in this booklet is current as at 1 July 2015 Table of contents About the RBF Tasmanian 2 Accumulation Scheme How super works Benefits of investing

More information

PROTECT YOUR INCOME IF YOU CAN T WORK

PROTECT YOUR INCOME IF YOU CAN T WORK This document forms part of the NGS Super Member Guide (Product Disclosure Statement) dated 1 April 2014 PROTECT YOUR INCOME IF YOU CAN T WORK FACT SHEET 7 1 APRIL 2014 It s vital that you re prepared

More information

Insurance facts you should know

Insurance facts you should know Insurance facts you should know 2 Insurance facts you should know Contents 1 Even non-income earners need to be insured 2 Inside or Outside super? 3 Your insurance needs change on an annual basis 4 Different

More information

Personal super insurance changes Adviser Q&A

Personal super insurance changes Adviser Q&A Personal super insurance changes Adviser Q&A What is happening? During 2010/2011, IOOF negotiated new insurance terms and conditions with the Insurer of the IOOF Portfolio Service Superannuation Fund,

More information

Terry White Chemists Superannuation a sub plan of FirstChoice Employer Super

Terry White Chemists Superannuation a sub plan of FirstChoice Employer Super July 2013 Page 1 Contents Category 1 - Permanent and Part Time staff working more than 15 hours per week Benefits in Brief...1 Getting Started...1 Your Investment Choices...2 Benefits of Insurance Cover...2

More information

ANZ Mortgage Protection. Because your mortgage payments don t stop if your income does.

ANZ Mortgage Protection. Because your mortgage payments don t stop if your income does. ANZ Mortgage Protection Because your mortgage payments don t stop if your income does. What if you couldn t pay your home loan? We insure our cars, our homes and other assets but what about our ability

More information

Super Funds Comparison Fact Sheet

Super Funds Comparison Fact Sheet Super Funds Comparison Fact Sheet This fact sheet has been prepared for new and prospective members of. However, it is not relevant to: members who have been issued with a Part Two Information former ESI

More information

At a glance. Income Protection. Protection to survive life s ups and downs.

At a glance. Income Protection. Protection to survive life s ups and downs. At a glance Protection to survive life s ups and downs. P r o t e c t i o n f i r s t Why Protection? With Protectionfirst you have peace of mind knowing that you and your family will be financially secure

More information

Personal. Personal insurance. Protection for all life stages. Financial solutions. For life.

Personal. Personal insurance. Protection for all life stages. Financial solutions. For life. Personal Personal insurance Protection for all life stages Financial solutions. For life. Contents Protecting your well-being and your family s 3 Why leave anything to chance? 4 Making it easier for you

More information

Insurance guide. SignatureSuper AMP Life Association and Personal fact sheet. Issued ₁ July ₂₀₁₅

Insurance guide. SignatureSuper AMP Life Association and Personal fact sheet. Issued ₁ July ₂₀₁₅ Issued ₁ July ₂₀₁₅ Insurance guide SignatureSuper AMP Life Association and Personal fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. The information in this document

More information

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet

Personal insurance. What is insurance? What is personal insurance? Life insurance. Fact sheet Fact sheet Personal insurance Current as at 15 April 2012 What is insurance? Insurance is an agreement with an insurance company to pay you a sum of money if something is damaged or lost. It is form of

More information

CommInsure Protection

CommInsure Protection CommInsure Protection Peace of mind for the times of your life Product Disclosure Statement (PDS) Preparation date: 3 February 2010 This PDS contains information about the following types of cover: Life

More information

ADDITIONAL DESCRIPTION DATE INSURANCE GUIDE FOR EMPLOYERS AND THEIR EMPLOYEES 25 MAY 2015. Tailored Employer Plans

ADDITIONAL DESCRIPTION DATE INSURANCE GUIDE FOR EMPLOYERS AND THEIR EMPLOYEES 25 MAY 2015. Tailored Employer Plans ANZ Smart Headline Choice goes Super here ADDITIONAL DESCRIPTION DATE INSURANCE GUIDE FOR EMPLOYERS AND THEIR EMPLOYEES 25 MAY 2015 Tailored Employer Plans Legal entity referred to in this Guide Name of

More information

Tasplan Super Insurance Booklet ISSUED JANUARY 2015

Tasplan Super Insurance Booklet ISSUED JANUARY 2015 Tasplan Super Insurance Booklet ISSUED JANUARY 2015 TASPLAN INSURANCE BOOKLET Contact Details Head Office: Level 8, 1 Franklin Wharf Hobart TAS 7000 Postal Address: GPO Box 1547 Hobart TAS 7001 Telephone:

More information

Income Protection Policy Addendum Dated 10 October 2010

Income Protection Policy Addendum Dated 10 October 2010 Income Protection Policy Addendum Dated 10 October 2010 Policy Addendum for Income Protection Please read this document and keep it in a safe place with your Income Protection Policy Document. It is important

More information

Income Care Plus. Business Overheads Cover. Policy Document

Income Care Plus. Business Overheads Cover. Policy Document Income Care Plus Business Overheads Cover Policy Document This document is an agreement between you and The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA). This document

More information

Guide to your Nestlé Super. Defined Benefit category IBR

Guide to your Nestlé Super. Defined Benefit category IBR Australia Group Superannuation Fund Guide to your Nestlé Super Defined Benefit category IBR The information in this document forms part of the Nestlé Super Product Disclosure Statement Defined Benefit

More information

INCOME PROTECTION DEFINITIONS

INCOME PROTECTION DEFINITIONS INCOME PROTECTION (IP) COVER DEFINITIONS We can provide a copy of our full Group Income Protection Policy document upon request. Please contact 1300 133 177 if you would like us to send you a copy. DEFINITIONS

More information

Super for creative people. INSURANCE GUIDE. Issued 1 July 2014 MY SUPER AUTHORISED PRINT. MEDIA. ENTERTAINMENT. ARTS.

Super for creative people. INSURANCE GUIDE. Issued 1 July 2014 MY SUPER AUTHORISED PRINT. MEDIA. ENTERTAINMENT. ARTS. Super for creative people. INSURANCE GUIDE Issued 1 July 2014 PRINT. MEDIA. ENTERTAINMENT. ARTS. MY SUPER AUTHORISED CONTENTS 1. Protection when you need it most 3 Three types of cover available 3 Which

More information

Insurance guide. Employer Sponsored Division. This guide contains important information about your NSF Super insurance options.

Insurance guide. Employer Sponsored Division. This guide contains important information about your NSF Super insurance options. Insurance guide Employer Sponsored Division This guide contains important information about your NSF Super insurance options. Contents Contents 1. Automatic Death and TPD insurance cover... 3 2. Voluntary

More information

A Guide to Managing Personal Risk

A Guide to Managing Personal Risk A Guide to Managing Personal Risk 1 A Guide to Managing Personal Risk Personal Risk is about more than just the Life Cover/ TPD attached to your super policy which is paid out on the event of your death.

More information

SUPERANNUATION. Corporate Super OnePath Life Limited. Death and Total and Permanent Disablement Cover. Insurance Guide

SUPERANNUATION. Corporate Super OnePath Life Limited. Death and Total and Permanent Disablement Cover. Insurance Guide SUPERANNUATION Death and Total and Permanent Disablement Cover Corporate Super OnePath Life Limited Insurance Guide 27 February 2012 Corporate Super Entity details in this Insurance Guide Name of legal

More information

Personal Insurance. Do I need Trauma cover? a safety. to help get you back on track

Personal Insurance. Do I need Trauma cover? a safety. to help get you back on track Personal Insurance Do I need Trauma cover? a safety to help get you back on track Being able to focus on your recovery after suffering a traumatic event is going to be your primary concern. Having trauma

More information

Super and your retirement. Page 1

Super and your retirement. Page 1 Super and your retirement Page 1 When we think about our retirement, we naturally imagine quite an ideal scenario. Living an active life in comfort and style. However the truth is, unless we make decisions

More information