We all have some form of insurance whether it be for our material items such as our car, contents & home or for those intangible items such as the cost of an operation in hospital or our ability to continue to earn income. Whilst it is a cost we would all prefer to do without, there are times when you should consider reviewing your need for insurance, or reviewing existing insurance cover. Taking on more debt or having children are obvious reasons to increase your life insurance, but there can be times when we actually need less insurance cover such as when you repay your home loan, your children being less financially dependent or you retire. Any one of these triggers or simply a renewal notice with an increased premium are opportunities to review your insurance needs. We are able to provide advice regarding your needs for life, TPD, Trauma and Income Protection cover and are happy to arrange to review your existing cover at no cost.
We also note that there is a lot of media discussion at the moment around life insurance companies not actually paying out on the insurance policies that clients have taken out in good faith. What we see as even more pressing is the tightening of definitions around group policies often held with industry super funds, to the point whereby it can be difficult to be able to claim. If your insurance is through your industry super fund we recommend you contact Matthew to ensure you are appropriately covered. Matthew Grapsas and LBW Financial Planning Pty Ltd are Authorised Representatives of Lonsdale Financial Group Ltd ABN 76 006 637 225 AFSL 246934.
The information contained in this newsletter is based on information believed to be accurate and reliable at the time of publication. Any illustrations of past performance do not imply similar performance in the future. To the extent permissible by law, neither we nor any of our related entities, employees, or directors gives any representation or warranty as to the reliability, accuracy or completeness of the information; or accepts any responsibility for any person acting, or refraining from acting, on the basis of information contained in this newsletter. This information is of a general nature only. It is not intended as personal advice or as an investment recommendation, and does not take into account the particular investment objectives, financial situation and needs of a particular investor. Before making an investment decision you should read the product disclosure statement of any financial product referred to in this newsletter and speak with your financial planner to assess whether the advice is appropriate to your particular investment objectives, financial situation and needs.