Posted in Insurance

Most Life Insurance policies offer Optional Benefits, but how do you choose which ones are likely to benefit you the most, and fit within your budget? Cost/Benefit Analysis Usually, Optional Benefits increase the cost of the policy premium, so you need to ensure the options you choose are likely to benefit you. For example, why would you need Needlestick Injury cover, if you weren't a medical practitioner? But if you were an active person and enjoyed a lot of physical ac...

When calculating how much Income Insurance you need, it's easy to overlook the fact that tax is payable on the Claim Payment received. How Much Tax is Payble? That depends on your taxable income. Income Insurance Claim Payments are effectively treated as taxable income, which is added to any other taxable income you receive, such as rental property income, etc. Will It Be Enough? That depends on your expenditure. Consider this comparison of Employment Wages and Inco...

I recently finalised a data audit for a client's Life Insurance Review. As part of my detailed audit process, I discovered the client was only covered for half of their insurable income, and they had to prove their income at the time of claim! What Does Income Insurance Cover? It's a good question. Unfortunately there is no simple answer (of course there isn't). As with most insurance contracts, what your income insurance actually covers depends on the insurer and t...

It is difficult to convey the actual value of dealing with a Financial Planner or Adviser. I consider myself a Comprehensive Financial Planner, which means that I act as an advocate for my clients in all of their financial dealings. Even that explanation may be difficult for a new client to understand what value I can be to them, so I decided to complete a weekly BLOG of some of the tasks I undertake for my clients on a weekly basis. If you are considering using me as your Financial Plann...

It's getting harder and harder to deal with large corporations such as Life Insurance companies. They sprout-on about what good service they provide, how it's so easy to deal with them, and are quick to tell you if they won an award for their customer service, but quite often they're just too big to provide a personal service. A client of mine recently discovered that thier Life Insurance premium was deducted twice from thier Credit Card. Fortunately, as I am their Life Ins...