The. Report. A forecast for smooth sailing. Goal setting for success. Facts & figures AUTUMN 2013 ISSUE NO. 111

Size: px
Start display at page:

Download "The. Report. A forecast for smooth sailing. Goal setting for success. Facts & figures AUTUMN 2013 ISSUE NO. 111"

Transcription

1 Count The Report A forecast for smooth sailing Goal setting for success Facts & figures AUTUMN 2013 ISSUE NO. 111

2 Welcome A message from the CEO Welcome to the Autumn edition of The Count Report. In this edition our cover story looks at personal insurance. Many people are familiar with the concept of life insurance; however, there are other types of personal insurance that are less well understood but no less important. A forecast for smooth sailing focuses on income protection insurance and how it can help you prepare for the unexpected. In Goal setting for success we look at different situations that might make you think twice about leaving long term goal setting aside for another time. Goal setting is important, and making time for long term thinking and action planning can bring you more confidence about your financial future and peace of mind. Have you ever wondered how the cost of natural disasters in Australia compares to the rest of the world? In our back page feature Facts & figures, you will find some interesting information about insurance-related situations. To start us off in this edition, our regular contributor Stephen Halmarick discusses recent economic events in his Market update. In partnership with your Count Financial Adviser, we look forward to helping you achieve your lifestyle and financial goals. If you have any questions at all, please contact your Count Financial Adviser. "Consider the regular expenditures that would need to be maintained in the event of the unforeseen it will help determine the right level of personal insurance for you and your family. " David Lane Regards, David Lane Count Financial Chief Executive Officer 2 The Count Report

3 Markets Market update An economic update from Stephen Halmarick, Head of Investment Markets Research, Colonial First State. The big three What have been the major economic events of the past few months? 1. U.S. Fiscal Cliff In the US the focus early in the month was on the so-called Fiscal Cliff. Politicians were able to come to a deal in the early hours of 1 January 2013, which limited the fiscal policy tightening for 2013 to around 1.5% of GDP, rather than the feared 4%. However, while some potential tax increases have been put off permanently and the deal did involve some pleasing aspects, significant spending cuts have only been delayed by two months. US employment figures showed that 157,000 jobs were created in January. However, the unemployment rate increased slightly to 7.9%. The average job creation for the past three months has now moved to 200,000 per month, compared with 138,000 for the six months prior. There has been some discussion as to what this means for the Federal Reserve and its open-ended Quantitative Easing program. Following its January meeting, the Federal Reserve maintained its purchases of Mortgage Backed Securities and Treasury Securities at a pace of US$85 billion per month. This program is expected to continue until there is substantial improvement in the labour market. 2. Japanese economic stimulus In Japan, the Bank of Japan (BoJ) announced a number of new measures to spur economic growth, encourage inflation and to weaken the yen. The BoJ pledged to achieve a 2% inflation target (up from its previous guide of 1%) and announced an open-ended asset purchasing program but this is not due to commence until At this stage the measures remain relatively timid and further enhancements are possible when a new Governor is appointed in April. The expectation of further changes saw the yen depreciate 6.7% against the US dollar in January. 3. Conditions less volatile in Europe In Europe there has been a mild improvement in the economy, although conditions remain subdued. Market sentiment has improved with bond yields falling in a number of countries, like Spain and Italy. European banks were able to make some early repayments on funds they received from the European Central Bank s Longer Term Refinancing Operation in January. A total of 137 billion was repaid from 278 banks, which was more than expected of the 1,019 billion borrowed. In Australia AUSTRALIA QUARTERLY AND ANNUAL INFLATION (%) In Australia, Q inflation data was released. Headline inflation rose 0.2% on the quarter, taking the annual rate to 2.2% from 2.0%. Underlying inflation was recorded at 0.55% for the quarter and 2.3% per annum. Prices of vegetables and audio visual goods fell, while domestic holiday travel and fuel prices rose. See chart below for details. Australian employment data showed 10,400 jobs were created during January (after 3,800 jobs were lost in December), with the unemployment rate unchanged at 5.4%. Consumer confidence rose by 0.6% in January to hover around its five-year average, while business confidence also improved. Prime Minister Julia Gillard announced the next Federal Election will be held on 14 September Headline inflation Underlying inflation RBA Forecasts Source: ABS. Data to 31 December RBA forecasts as at November 2012 The Count Report 3

4 Personal finance income protection A forecast for smooth sailing Most of us have a good grasp of the notion of life insurance, but less understood is the value of income protection insurance. Few offerings create such useful protection against unexpected, health-related financial turbulence for you and your family. What is your most valuable asset? Is it your house? Your car? Or your investment portfolio? Of course it is none of the above. Your most valuable asset is the one that makes all the others possible you. But there is a chance that an accident or health issue could take away your ability to pay the bills. One in six men and one in four women between the ages of 35 and 65 are expected to suffer a disability that causes an absence of six months or more from work, according to a 2006 report from the Institute of Actuaries. If this was to happen to you, or to somebody you cared about, what is the likelihood you could continue to meet your current financial responsibilities? 4 The Count Report It s not just a question for those with families and/or dependents. It s just as much of a problem for singles and couples with no children when income is suddenly and unexpectedly lost. Mortgages and/ or rent still have to be paid. Medical bills have to be met and general cost of living continues as it always did. Income protection insurance can cover up to 75% of your regular weekly pay packet and sometimes up to 100%, in the event of you being unable to work as a result of serious illness or injury. Policies usually offer a monthly benefit during the time out of work, others also offer the choice of a tax-free lump sum payment in certain circumstances. In most cases premiums are tax deductible. In every case, if you have an unexpected break from the workforce, it can mean the difference between the terrible stress of financial hardship and having the ability to concentrate on recovery. How do you arrange income protection? Your financial adviser can arrange income protection for you. It is often set up with a four-week waiting period before benefits begin, which keeps the premium down and allows, where possible, the person to utilise their employer s sick leave prior to benefits kicking in. Once the pre-set waiting period is over, the monthly payments, which are taxable, begin. Generally, payments would be paid monthly in arrears but might be sooner depending on the circumstances and the policy. These payments are usually set at around 75% of the individuals insurable income. As previously mentioned, some policies also offer the choice of a tax free, lump sum payment. This does affect the potential tax deductibility of the premiums, usually bringing the deductible portion back from 100% (when outside a superannuation account) to 90%.

5 Personal finance income protection Questions that a financial adviser may ask you to consider: Am I the sole income earner? What is my total annual income? What are my total debts and expenses? How many dependent children do I have? How long might my savings last if I was unable to work? Could my partner pay all of the bills and expenses if I was unable to work? If the answer to the final question is no, especially if medical costs are added to the expense list, then it is very much worth organising an appointment with an adviser to discuss income protection insurance. Consider the options There are several types of income protection insurance that offer various options, benefits and tax advantages. It pays to discuss the options with your financial adviser to ensure the cover matches your lifestyle, budget, income and debt levels, and dependents. As your career and lifestyle changes, it s also worth re visiting the policy, with the help of your adviser, to check that it is still suitable for your current circumstances. If you're already covered by income protection, it may be helpful to discuss personal insurance with friends and family who may not recognise its value. The severe financial consequences of serious illness and accidents can affect all of the people around the victim. The experience is never a good one, but the removal of financial issues makes the recovery period, or the rehabilitation and ongoing treatment, more manageable. Case study Income protection insurance offers a person suffering injury or illness, and their family, to concentrate on what is important: rest and recovery. For example, a financial adviser recommended that his 35-year-old client Edward, an IT consultant at a large investment bank earning $142,000 per annum, take out income protection insurance with a total and permanent disability (TPD) option. The policy would offer a monthly benefit of $8,875 and would have a three-month waiting period and benefit period paid to age 65. After a serious motor vehicle accident, Edward suffered a major head trauma and a spinal injury which left him a quadriplegic. His insurance case manager felt it would take around three months to assess the claim fully so organised for an immediate bed confinement payment of $27,000 to be paid to Edward. The policy also contained a Boosted Disability Benefit which raises the monthly benefits by 33%, meaning Edward s monthly, taxable payments lifted to $11, Rather than taking the monthly payments, Edward decided to receive a tax free, lump sum payment of $2,262,000. This helped cover medical costs and rehabilitation care and also allowed him to pay off his mortgage and commence modifications to his home. The Count Report 5

6 Personal finance goal setting Goal setting for success As with most life goals, a financial objective is hard to meet without a plan. On the other hand, discussing the process with a professional, putting pen to paper and envisioning the steps to long-term success brings that goal into focus and makes it a reality. Plans written down on paper give your dreams a direction, whether they are for short-term saving or long-term wealth. They help you to figure out where things are going wrong or could go wrong, and they keep you motivated by proving it s possible and easing the fear of failure. The process of making a financial plan identifies steps that must be taken and turns a hoped for result into a viable goal. Importantly, in a turbulent economic period such as the one we have experienced in recent years, a written plan allows you to keep your eyes 6 The Count Report on the long-term prize, rather than making a panicked decision. It also gives you the chance to make far more accurate fine-tuning decisions, with help from your financial adviser, to ensure everything stays on track towards the agreed goal. The long-term nature of a financial plan can help ease any short-term concerns as it allows time for the market to smooth out the bumps and dips along the way, while providing the opportunity for growth. It also gives the investor time to make the most of compound interest. The first and most obvious step is to determine your priorities. When it comes to retirement this means figuring out what type of lifestyle you re hoping for. Are you looking to travel the world regularly and stay in five-star hotels or is a shack down the coast, and a few afternoons of fishing a week, your idea of retirement heaven? Armed with this information, your adviser will be able to crunch the numbers to work out what your final dollar amount needs to be. A qualified financial adviser will show you numerous ways to make your long-term hopes a reality, including the utilisation of tax effective financial vehicles, proper budgeting, protection

7 Personal finance goal setting of your financial future through insurance and constant fine-tuning as regulations change and new opportunities present themselves. A thorough plan will have milestones along the way that serve to break up the major plan into a number of smaller ones and also act as checkpoints to ensure you re still on track. Such a strategy is known in some circles as a SMART plan. SMART is a well-known and heavily researched guide to setting powerful but realistic objectives. A SMART plan sticks to these principles: S Specific & simple M Measurable & meaningful A Actionable & attainable R Realistic & relevant T Timely & timetabled Perhaps a final R should be added to the plan to represent Review and Reassess. As previously mentioned, once the plan is in place it must not be considered unchangeable. In fact, it should be fine-tuned at least once every 12 months during a visit to your adviser. Products develop, governments introduce new legislation, regulations are altered, changes to tax laws offer new opportunities and markets rise and fall. Whether in the name of change or simply to make you confident about your financial future, it pays to review your plan regularly. After all, if you're confident about your future, you re more likely to enjoy the present. The Count Report 7

8 Facts & figures Did you know? Dollar costs of disasters in Australia are relatively low compared to those in other countries. 2 Sydney Japan 1999 Hail storm $2.01 billion 2012 Tsunami & Earthquake $32 billion Queensland USA 2010/2011 Floods $2.3 billion 2012 Hurricane Katrina $66.3 billion According to the Association of Superannuation Funds of Australia, a couple hoping to achieve a comfortable retirement in Australia needs to spend $56,236 a year. 3 According to a 2010 report from Lifewise and the National Centre for Social and Economic Modelling: One in five families will be impacted by the death of a parent, a serious accident or illness that renders a parent unable to work. The Heart Foundation says each year there are approximately heart attacks in Australia about one every 10 minutes. 55,000 Females are just as likely to die from a heart attack as males and Cancer Council Australia says one in two Australian men and one in three Australian women will be diagnosed with cancer by the age of The same report says 95% of families do not have adequate levels of insurance. This underinsurance, in the next decade, will cost the federal government billion. 5 $1.3 CONTACT YOUR COUNT ADVISER AT: 2 Insurance Facts & figures 2012, Pricewaterhouse Coopers, Australia, 2012, p and 5 The Lifewise/NATSEM Underinsurance Report, Dr Simon Kelly and Dr Quoc Ngu Vu, University of Canberra, Canberra, 2010, p.2 Harding Martin Financial Services HEAD OFFICE: Level 19, 1 Alfred Street, Sydney NSW P This document has been prepared by Count Financial Limited ABN , AFSL , (Count) a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN Count and Count Wealth Accountants are trading names of Count. Count is a Professional Partner of the Financial Planning Association of Australia Limited. Count advisers are authorised representatives of Count. Information in this document is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on this document. This document contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision. All opinions expressed in this publication are those of Count Financial Limited February The Count Report 221 Brisbane Street Ipswich QLD 4305 Phone: (07) Fax: (07) Looking after your financial life

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

Count. The. Report. Drive your wealth strategy this EOFY. Choosing to insure inside or outside super. Useful apps to monitor your spending

Count. The. Report. Drive your wealth strategy this EOFY. Choosing to insure inside or outside super. Useful apps to monitor your spending Count The Report Drive your wealth strategy this EOFY Choosing to insure inside or outside super Useful apps to monitor your spending WINTER 2015 ISSUE NO. 120 Welcome A message from the CEO Welcome to

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

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

Wealth protection for Australian Small and Medium Business Owners

Wealth protection for Australian Small and Medium Business Owners Wealth protection for Australian Small and Medium Business Owners Unexpected issues In business life, as in daily life, unexpected issues can and do occur. Business owners can be temporarily or permanently

More information

Life and protection insurance explained

Life and protection insurance explained protection? Life and protection explained A guide to personal and family protection This guide explains the types of life and protection available and how they can offer you valuable peace of mind. If

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

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com.

Contact us. Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au. Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au. www.kpmg.com. Contact us Hoa Bui T: + 61 (02) 9335 8938 E: hbui@kpmg.com.au Briallen Cummings T: + 61 (02) 9335 7940 E: bcummings01@kpmg.com.au www.kpmg.com.au No reliance This report should not be regarded as suitable

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

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

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

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

Though not a pleasant thought it's important to think about this: when you die, who will you leave behind?

Though not a pleasant thought it's important to think about this: when you die, who will you leave behind? Personal insurance There are many risks you face during your lifetime, but the most serious ones you will face are death, disability, serious illness and/ or medical intervention (surgery). These can happen

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

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

THE LIFEWISE / NATSEM UNDERINSURANCE REPORT. Understanding the social and economic cost of underinsurance

THE LIFEWISE / NATSEM UNDERINSURANCE REPORT. Understanding the social and economic cost of underinsurance THE LIFEWISE / NATSEM UNDERINSURANCE REPORT Understanding the social and economic cost of underinsurance SUMMARY RESEARCH REPORT PREPARED BY Dr Simon Kelly and Dr Quoc Ngu Vu PREPARED FOR Lifewise, an

More information

As life happens, we re here for you

As life happens, we re here for you As life happens, we re here for you AMP claims paid 2014 Live life knowing we ll be there for you Like most people, you probably think something bad will never happen to you. Hopefully you re right. But

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

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

Income Protection and Total and Permanent Disability

Income Protection and Total and Permanent Disability Income Protection and Total and Permanent Disability Important information George s story and Leona s story are hypothetical stories and are included for illustrative purposes only. The names and identifying

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

#ReachingMyGoals #StartsToday

#ReachingMyGoals #StartsToday About this report The purpose of this report is to provide you a framework for assessing your financial health and, where relevant, trigger further action on your part. We also include insights and practical

More information

Income insurance. Protect your income and your lifestyle

Income insurance. Protect your income and your lifestyle Income insurance Protect your income and your lifestyle Your ability to earn an income is likely to be your most valuable asset in life. Insuring your income can give you peace of mind that your family

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

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

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

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

Good Policy The good news about insurance. Macquarie Life

Good Policy The good news about insurance. Macquarie Life Good Policy The good news about insurance Macquarie Life Table of Contents Insurance 01 Insurance. The price of prosperity 02 The benefits of insurance. Protecting you and your family 04 Fail to plan or

More information

The path to retirement success

The path to retirement success The path to retirement success How important are your investment and spending strategies? In this VIEW, Towers Watson Australia managing director ANDREW BOAL reports on investing for retirement success

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

Who s looking out for you?

Who s looking out for you? Who s looking out for you? Insurance for Nurse Surgical Assistants www.moorestephens.com.au Copyright Moore Stephens Serious about Success 1 Important information This presentation contains general advice

More information

Some proven financial advice strategies

Some proven financial advice strategies Some proven financial advice strategies There are numerous key financial advice strategies that may put you on the road to achieving your financial goals Debt Management Debt consolidation can lower repayments

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

Economic Snapshot January 2013

Economic Snapshot January 2013 January 2013 In summary January saw 2013 begin on a good note with strong gains on local markets. In percentage terms the Australian share market rose approximately 5%. This means the market has risen

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

The Lifewise / NATSEM Underinsurance Report

The Lifewise / NATSEM Underinsurance Report The Lifewise / NATSEM Underinsurance Report Understanding the social and economic cost of underinsurance Research Report PREPARED BY Dr Simon Kelly and Dr Vu Quoc Ngu PREPARED FOR Lifewise, an initiative

More information

Wealth Protection Be prepared

Wealth Protection Be prepared Wealth Protection Be prepared Financial peace of mind should the unexpected happen About Markiewicz & Co. Markiewicz & Co. is one of Australia s leading full service investment management and financial

More information

31 March 2015. Senior Adviser Financial System and Services Division The Treasury Langton Crescent PARKES ACT 2600 by email: fsi@treasury.gov.

31 March 2015. Senior Adviser Financial System and Services Division The Treasury Langton Crescent PARKES ACT 2600 by email: fsi@treasury.gov. Good Super Reply Paid 3528 Tingalpa DC QLD 4173 Phone: 1300 788 658 info@goodsuper.com.au www.goodsuper.com.au 31 March 2015 Senior Adviser Financial System and Services Division The Treasury Langton Crescent

More information

Mixed messages over interest rates

Mixed messages over interest rates Mixed messages over interest rates In February, the Reserve Bank of Australia cut interest rates to 60-year lows, and economists remain divided over whether rates will fall further still. The trouble is,

More information

YOUR LIFE IS ALL ABOUT THEIR FUTURE

YOUR LIFE IS ALL ABOUT THEIR FUTURE YOUR LIFE IS ALL ABOUT THEIR FUTURE Protect your family with Medibank Life Insurance LIFE INSURANCE In store 1300 722 568 medibank.com.au/life 1 Why life insurance? There are some things in life you d

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

AMP Risk Protection Plan Booklet. Protect what s most important to you

AMP Risk Protection Plan Booklet. Protect what s most important to you AMP Risk Protection Plan Booklet Protect what s most important to you No matter how cautious we are, the unexpected can happen to any one of us, at any time. And our lives can change in a split second.

More information

Simplifying Statements of Advice. Life Risk example SOA. 9 December 2008

Simplifying Statements of Advice. Life Risk example SOA. 9 December 2008 Simplifying Statements of Advice Life Risk example SOA 9 December 2008 Life Risk Statement of Advice for Frank and Nancy Stoop, Development of the Life Risk example SOA Financial planners, politicians,

More information

Child cover. Free. child cover offer inside

Child cover. Free. child cover offer inside Child cover Free child cover offer inside Protecting your most precious asset It s a natural desire to want to wrap your child in cotton wool and protect them from harm. But while cotton wool might protect

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

Protecting your lifestyle and your wealth

Protecting your lifestyle and your wealth Protecting your lifestyle and your wealth Life assurance Critical illness cover Income protection Key person and partnership protection Over 30 years experience providing independent pension advice to

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

PRIVATE WEALTH. Client Questionnaire and Risk Profile

PRIVATE WEALTH. Client Questionnaire and Risk Profile PRIVATE WEALTH Questionnaire and Risk Profile Important Notice to The Australian Corporations Act (2001) requires that an Adviser making personal advice recommendations must have reasonable grounds for

More information

Current as at 1 July 2014 Adviser use only. Technical guide: Challenger Lifetime and Term Annuities

Current as at 1 July 2014 Adviser use only. Technical guide: Challenger Lifetime and Term Annuities Current as at 1 July 2014 Adviser use only Technical guide: Challenger Lifetime and Term Annuities Table of contents Introduction 1 Challenger Lifetime Annuities 2 Product features 3 Centrelink treatment

More information

BT Protection Plans. Product Disclosure Statement and Policy Document (PDS)

BT Protection Plans. Product Disclosure Statement and Policy Document (PDS) BT Protection Plans Product Disclosure Statement and Policy Document (PDS) Dated 19 May 2014 Who s responsible for BT Protection Plans The Insurer is Westpac Life Insurance Services Limited ABN 31 003

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

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

Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review

Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review Protecting Your Assets and Lifestyle: A Critical Illness Insurance Review If a serious illness strikes, how will you protect your assets and lifestyle from financial hardship? Table of Contents Page Your

More information

Welcome to the AYSF Group Insurance Plans.

Welcome to the AYSF Group Insurance Plans. An introduction to Group Insurance Plans - Members Booklet Welcome to the AYSF Group Insurance Plans. Important note: This document is provided by AYSF and has been prepared with the assistance of Certainty

More information

LIFE INSURANCE PREPARING FOR THE FUTURE

LIFE INSURANCE PREPARING FOR THE FUTURE LIFE INSURANCE PREPARING FOR THE FUTURE Bupa life insurance is issued by ClearView Life Assurance Limited (ABN 12 000 021 581) (AFS Licence No. 227682) ( ClearView ). Bupa Australia Pty Limited (ABN 81

More information

Life Insurance where do I start?

Life Insurance where do I start? Page 1 Life Insurance where do I start? Life Insurance provides financial protection for your beneficiaries should you die or be diagnosed with a terminal illness. It provides your beneficiaries with a

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

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

INSURANCE. Nov / De c 20 1 5

INSURANCE. Nov / De c 20 1 5 1 Nov / De c 20 1 5 AUSTRALIANEARTHMOVING.COM.AU BUSINESS ARE YOU COVERED? One of the keys to a successful business is to ensure you cover yourself for all situations that may arise on site. Accidents

More information

Understanding Business Insurance

Understanding Business 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 business insurance.

More information

PEOPLE FOCUS June 2010 Willis New Zealand Ltd

PEOPLE FOCUS June 2010 Willis New Zealand Ltd PEOPLE FOCUS June 2010 Willis New Zealand Ltd THE LAUNCH OF WILLIS PEOPLE RISK Willis People Risk is the new name for the Willis Employee Benefits Division. The new name has been adopted to reflect the

More information

The 4 Levels of Life Insurance Explained

The 4 Levels of Life Insurance Explained C JAMES MERCHAN BBUS (Banking & Finance), Ad.Dip Fin Planning [m] 0433 480 870 [w] 5976 3704 [e] jmerchan@mccombe.com.au THE IMPORTANCE OF LIFE INSURANCE Life Insurance is an integral component of wealth

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

Loan Protection. Product Disclosure Statement (PDS) Issued: 1 September 2013. Protecting your financial future with us

Loan Protection. Product Disclosure Statement (PDS) Issued: 1 September 2013. Protecting your financial future with us Loan Protection Product Disclosure Statement (PDS) Issued: 1 September 2013 Protecting your financial future with us Issued by: MetLife Insurance Limited ABN 75 004 274 882 AFSL 238096, Level 9, 2 Park

More information

Key Person Insurance. A succinct guide for business owners. Author - Paul Benson, B. Bus, CFP, SSA

Key Person Insurance. A succinct guide for business owners. Author - Paul Benson, B. Bus, CFP, SSA Key Person Insurance A succinct guide for business owners Author - Paul Benson, B. Bus, CFP, SSA Guidance Financial Services provides specialist financial planning advice for business owners and the self-employed.

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

A Guide to Critical Illness Insurance

A Guide to Critical Illness Insurance A Guide to Critical Illness Insurance This guide about Critical Illness cover is designed to help you decide if this is a suitable product for you. It aims to help by answering the following questions:

More information

Career transition guide. We empower you. westernpacific.com.au

Career transition guide. We empower you. westernpacific.com.au Career transition guide We empower you. westernpacific.com.au Contents Introduction 3 Coming to terms with redundancy 3 Assessing your financial position 4 Securing employer payments 5 Redundancy and your

More information

Ensuring your quality of life

Ensuring your quality of life Ensuring your quality of life Rightway Insurance Services is a personal risk insurance specialist offering Income Protection, Life, Trauma and Total and Permanent Disability insurance. Why is insurance

More information

So what are these various insurances and when might you need them? A brief summary of the main types of cover is as follows.

So what are these various insurances and when might you need them? A brief summary of the main types of cover is as follows. Report No. 6 September 2013 IN THIS REPORT: We research & rate the suite of life insurance products to determine who offers the best value from the 13 companies specializing in this market. IT CAN HAPPEN

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

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

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

Your best back-up tool is insurance.

Your best back-up tool is insurance. Your best back-up tool is insurance. Insurance for tradespeople Presented by ACF Planning PTY LTD ABN 70154714119 as Authorised Representative No 415700 for Australian Capital Financial Planning ABN 34

More information

Income protection insurance

Income protection insurance Income protection? Income protection replaces your income Income protection? Income protection replaces your income Income protection? Income protection replaces your income My Name Financial Income protection?

More information

COMMINSURE LIFETIME INCOME ANNUITY.

COMMINSURE LIFETIME INCOME ANNUITY. COMMINSURE LIFETIME INCOME ANNUITY. A retirement income solution now with a Death Benefit Guarantee. A CommInsure Lifetime Income Annuity now offers even more comfort, protection and value with a Death

More information

Insurance a refresher

Insurance a refresher Insurance a refresher Overview For many individuals, the global economic downturn has re-defined the concept of risk and caused them to focus on the need for risk protection (including wealth protection).

More information

Count. The. Report. Make the most of the family home. Life, interrupted. Getting your retirement lifestyle right SPRING 2015 ISSUE NO.

Count. The. Report. Make the most of the family home. Life, interrupted. Getting your retirement lifestyle right SPRING 2015 ISSUE NO. Count The Report Make the most of the family home Life, interrupted Getting your retirement lifestyle right SPRING 2015 ISSUE NO. 121 Welcome Welcome to the Spring edition of The Count Report. For many

More information

Why Disability Insurance

Why Disability Insurance Why Disability Insurance Most people insure their material possessions their homes and cars, for example. But many people don t insure what is probably their most valuable asset their ability to work and

More information

Professionals Life and Living Benefit Plan

Professionals Life and Living Benefit Plan Professionals Life and Living Benefit Plan Is your financial future protected? Do you have enough protection? 5.3 million Australians don t. Did you know that a recent study found that 5.3 million families

More information

ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER.

ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER. ACHIEVE YOUR FINANCIAL GOALS WITH THE HELP OF A COMMONWEALTH FINANCIAL PLANNER. Andrew has been our financial planner for 16 17 years. During this time Andrew s advice has always been very professional

More information

THE GUIDE TO KEEPING YOU AND YOUR BUSINESS COVERED

THE GUIDE TO KEEPING YOU AND YOUR BUSINESS COVERED THE GUIDE TO KEEPING YOU AND YOUR BUSINESS COVERED New Zealand s leading life insurer Sovereign has been a part of New Zealanders lives since 1989, and today provides life and health insurance, home loan,

More information

KEY PERSON INSURANCE A SUCCINCT GUIDE FOR BUSINESS OWNERS PAUL BENSON B. BUS., CFP, SSA. Bespoke. Ethical. Investments.

KEY PERSON INSURANCE A SUCCINCT GUIDE FOR BUSINESS OWNERS PAUL BENSON B. BUS., CFP, SSA. Bespoke. Ethical. Investments. A SUCCINCT GUIDE FOR BUSINESS OWNERS PAUL BENSON B. BUS., CFP, SSA Bespoke. Ethical. Investments. INTRODUCTION: THE IMPORTANCE OF BUSINESS INSURANCE Take away my people, but leave my factories, and soon

More information

A DIFFERENT KIND OF WEALTH MANAGEMENT FIRM. www.jaswealth.com.au. Superannuation 101. Everything you always wanted to know but were too afraid to ask

A DIFFERENT KIND OF WEALTH MANAGEMENT FIRM. www.jaswealth.com.au. Superannuation 101. Everything you always wanted to know but were too afraid to ask A DIFFERENT KIND OF WEALTH MANAGEMENT FIRM www.jaswealth.com.au Superannuation 101 Everything you always wanted to know but were too afraid to ask What is Superannuation? Superannuation 101 Contents What

More information

Strategy Paper: Financial Planning for Generation-Y. SMSF Specialists Investment Management Financial Planning Accounting

Strategy Paper: Financial Planning for Generation-Y. SMSF Specialists Investment Management Financial Planning Accounting Strategy Paper: 190 Through Road Camberwell VIC 3124 T: (03) 9809 1221 F: (03) 9809 2055 enquiry@gfmwealth.com.au www.gfmwealth.com.au ABN 69 006 679 394 Financial Planning for Generation-Y SMSF Specialists

More information

Understanding Business Insurance

Understanding Business Insurance Level 7,34 Charles St Parramatta Parramatt NSW 2150 PO Box 103 Parramatta NSW 2124 Phone: 02 9687 1966 Fax: 02 9635 3564 Web: www.carnegie.com.au Guide Build Protect Manage Wealth Understanding Business

More information

MAKE FINANCIAL FITNESS HAPPEN

MAKE FINANCIAL FITNESS HAPPEN MAKE FINANCIAL FITNESS HAPPEN 3 UNIT 6 INTRODUCTION TO NEDBANK INSURANCE AND ASSURANCE PRODUCTS At the end of this unit, you will: understand the difference between insurance and assurance; and understand

More information

Free Financial Protection Guide

Free Financial Protection Guide Free Financial Protection Guide No matter how successful your investment plans may be, your most valuable asset is YOU. If you are unable to work as a result of injury or illness, where will the money

More information

Business Assurance. Business Assurance. Protecting your business and lifestyle

Business Assurance. Business Assurance. Protecting your business and lifestyle Business Assurance Business Assurance Protecting your business and lifestyle Our business covers at a glance Cover What is it? Why do you need it? Life Cover Trauma Cover (accelerated) Complete Disablement

More information

Financial Planning Growing a better future

Financial Planning Growing a better future To make an appointment with a Financial Planner: Go to hsbc.com.au/financialplanning Visit in branch Call 1300 308 008 All testimonials listed in this brochure are sourced from Sue, an HSBC financial planning

More information

Looking after yourself. Critical Illness insurance for women

Looking after yourself. Critical Illness insurance for women Looking after yourself Critical Illness insurance for women Looking after yourself With Critical Illness insurance you can concentrate on getting better without worrying about the cost The emotional trauma

More information

Insurance Personal Questionnaire

Insurance Personal Questionnaire Insurance Personal Questionnaire Name of Client 1: Name of Client 2: This section is completed by your Adviser Adviser Name: Adviser Code: Interview Date: FSG Version Number Provided: Adviser Profile Number

More information

Understanding business insurance

Understanding business 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

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid.

Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. Includes Tips & Tricks that could save you substantial $$$ and help make sure your claims get paid. WHAT IS INSURANCE? It s simply the transference of a risk from yourself to the Insurer. By paying the

More information

FAMILY PROTECTION MADE EASY. A guide to life assurance

FAMILY PROTECTION MADE EASY. A guide to life assurance FAMILY PROTECTION MADE EASY A guide to life assurance INTRODUCTION Your Health is your Wealth - I genuinely believe that to be true. I work in the A&E Department of a large hospital and every day I see

More information

11 Things Every. Trades Person. Needs To Know

11 Things Every. Trades Person. Needs To Know 11 Things Every Trades Person Needs To Know Being in the building trades you need an accountant who understands your business and the intricacies. We appreciate the unique nature of the trades including

More information

INFORMATION FOR ADVISERS

INFORMATION FOR ADVISERS At a glance Lump Sum Protection Protecting your future to make the most out of life. INFORMATION FOR ADVISERS 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

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

Housing Affordability Report

Housing Affordability Report Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to

More information