Over the years we have witnessed first-hand what can happen when a client’s Estate Plan hasn’t been structured correctly. We think it’s important to preserve the Family Wealth and pass assets onto future generations, below are 5 key points to think about and act on.
The Australian Securities & Investments Commission (ASIC) has recently released Report 498 which highlights the benefits of using an adviser for personal retail insurance (Term Life, TPD, Trauma and Income Protection) as opposed to other channels like direct insurance and insurance held via group superannuation accounts. The report shows that you are 71% more likely
On the 1st July 2015 the Federal Government changed the definition of terminal illness for the purpose of superannuation and tax law changed whereby the period to be able to make a claim was extended from 12 to 24 months. This significant change provides those suffering from a terminal medical condition earlier access to their
The number of bankruptcies in Australia fell 11.2% in the March quarter 2015 (4,379), compared to the March quarter 2014 (4,932) and increased 4.8% compared to the December quarter 2014 (4,179)1. So what is the treatment of life insurance proceeds, both outside and inside super, in the event of bankruptcy? Bankruptcy & Life Insurance
I was recently referred a client who has a range of personal insurance policies including Term Life, Total & Permanent Disability (TPD), Trauma and Income Protection. The policies were set up via another adviser over 5 years ago and the client’s main concern was that he had not heard from the adviser since the initial
Companies such as Real Insurance, Choosi, and most recently, Coles Insurance, all claim to be the cheapest and easiest to apply. Coles even has a “Price Beat Guarantee” stamp on their Life insurance so it must be the cheapest right? Wrong.
Superannuation rules limit who can receive death benefits. Therefore it is important to understand who can be a superannuation dependent as well as a tax dependent. The rules apply to accumulate savings/account balance as well as insurance inside superannuation. Death benefits from superannuation (including insurance payments) can only be paid to: A dependent as defined
Every medical practice with two or more owners needs to have the right strategies in place if one of the owners leaves due to premature death, total and permanent disability or a traumatic illness. As the practice provides its owners with regular income, capital, security, superannuation and retirement flexibility, protecting the exiting owner’s needs, in