I’m not sure whether I need insurance?

You might not, if you don’t rely on your income to maintain your standard of living and pay bills and if you have no spouse or dependents, you might not need insurance. It’s probably worth speaking with a qualified advisor to go over your situation.

How often should I review my insurance?

Changing jobs, moving home, increasing debts or birth of a child are just a few reasons to review your cover.

I’ve had a major illness am I uninsurable?

You should discuss the illness and insurance cover you are looking for with an advisor as they will be able to speak with an insurance underwriter on your behalf. You may have to settle for an accident only policy.

I’m self employed, how much income protection cover can I apply for?

You can insure your gross taxable income from personal exertion, this can include any income paid to a spouse as income splitting.

I’ve had my policies for 5 years and the cost keeps going up every year?

It’s normally because you have a stepped premium that increases each year with your age. You need to ask your advisor to do a comparison with level premium as this could save you a fortune in the long term.

My life policy is inside super, how do i make sure my dependents get my life benefit?

You can make a non lapsing binding nomination that instructs the trustee who to pay the benefit too.

I have insurance policies with four different companies, is this wise?

There are a few potential issues that include, having to complete different claim forms if you have a claim, not getting larger sum insured discount and some companies offer a multi policy discount as well. A review will let you know what benefits could be possible.

I’m self employed and confused by my 30 day wait on my income protection policy?

If you have a 30 day wait, you normally won’t receive any money for 60 days, because the first 30 days you get nothing and then you get paid 30 days in arrears. If this is to long you need to look at a 14 day wait or an early accident option where you could be on claim after 3 days if you have an accident.

I want to transfer my personal life policy into a DIY superfund, is this ok?

No, this ‘in specie’ transfer could make your fund non complying and result in all sorts of tax issues, you need to cancel the policy and get it re-issued with your DIY super fund as the owner.

I’m self employed but my accountant says I can’t claim my life insurance as a tax deduction?

If you life policy is owned by a super fund then you can claim the premium as a deduction as it is treated as a super contribution. Be aware of contribution limits and suitable beneficiaries

How do I apply for insurance Cover?

It's quick and easy to get an insurance quote, simply click here now to fill out our online application form and one of our advisors will call you shortly to finish the application process.