Most families have at least one main bread winner, and increasingly both parents are working in a full time or part time capacity. Most would agree that a high priority should be placed on addressing the following potential pitfalls:
Three out of four of the above insurance types (the exception being Critical Illness Cover) can be partially or fully funded using superannuation, so there really is no excuse for persons with superannuation to not have adequate life or total disability insurance cover. Income Protection insurance is often best funded outside of superannuation for tax and accessibility reasons but clients who have budgeting constraints can at least attain a basic level of protection using superannuation.
Importantly, we are able to offer advice across a range of insurers to help you bridge the gap between what you “need” and what you “have”. Our detailed Risk Needs Analysis takes into account your current assets, level of cover, and what your intentions for the future are, to determine an appropriate Risk Protection package for you. We then determine the most appropriate products, features and ownership structure based on our research, and build your wealth plan around this foundation.