‘Too expensive’, ‘too unlikely’, too many ‘what-ifs’ and ‘how will it work?’ are just some reasons SME owners avoid trauma insurance. But think about this: for 4 male partners, aged 35, 45, 50 and 55, there’s only a 52.4% chance that all will remain healthy in the next 10 years. What impact will that have on their business? It’s time to rethink the need for trauma insurance. (more…)
Next time you open a credit card statement and a brochure advertising ‘accidental death policies’ falls out, is it worth picking up? Or continuing its journey to the (recycle) bin? (more…)
An article in the Financial Planning Association’s magazine, ‘Financial Planning’ in November lists the first graduates of the Life Risk Specialist accreditation program and outlines the benefits of the program. Summerhill’s Caroline Bell was quoted.
“Times are a bit tough right now, so we’re cutting back on the non-essentials. I’m thinking of dropping my life insurance – because I hope I don’t need it! – and picking it up again when times are better.”
While it’s tempting to think of life insurance as a “non-essential”, it’s not. If you think you can’t afford the premiums, look at it this way: you are so reliant on the income you do have, that you need to sustain it! That means, your life insurance premiums are essential, not discretionary spending.
Having life insurance doesn’t mean you’re going to use it; but if the worst does befall you, your family’s future won’t crumble. (more…)
Direct life insurance can cost up to 8.5 per cent more and offer less.
Insurance companies are taking advantage of the more cautious mood of consumers and their underinsurance to crank up the marketing of direct life insurance but the explosion of choice makes it difficult to work out if that special offer you receive in the mail or see on television provides value for money. (more…)
The new super rules have rendered employer-provided life insurance plans nowhere near as friendly as they previously were. And a new $140,000 tax-free cap is vastly inadequate.
Affording time off work to spend with a sick loved one, or protecting your income even when you can’t work are just two benefits of insurance.
