Self-employed clients, and those who receive a significant component of their gross earnings via bonus or incentive payments, should have their policies reviewed by their advisor with urgency as pending insurance changes confirm that new Agreed Income Protection policies will not be available post 31 March 2020
Agreed Income Protection benefits provide certainty that, in the event of a claim, clients will receive the monthly sum insured they are paying for. Typically, employed clients with stable incomes are well-protected by Indemnity Contracts however this is not necessarily the same for self-employed clients or those who receive larger bonus payment. The concern for these clients has always been that they may suffer an illness or injury at a time when they are experiencing a financially lean year, causing them to receive a lower monthly benefit.
Clients with an Agreed Contract are protected. Their policies will continue, and they will be in control to retain, increase or decrease cover at any time.
The team at LBW Business + Wealth Advisors want you to be properly protected, so act now and give us a call to discuss.
The LBW Principals are delighted to announce the appointment of Cathryn Walley within the SMSF division to Associate Principal, effective 1 January 2020. We are so proud to welcome Cathryn and her diverse background, experience and skills to the leadership team. This appointment is in support of our growth agenda for the wealth management area following our acquisition of the Bendigo Bank’s Geelong West Financial Planning business earlier in the year. Importantly it shows our commitment to developing leaders from within. We continue to focus on partnering with our clients as they develop and grow their businesses and support them to be financially secure in their retirement.
Cathryn has been with LBW for 10 years and brings over 20 years of experience in the accounting, SMSF and financial planning areas. She has a drive for the Geelong region and enjoys helping families achieve their retirement plans and dreams by supporting them with their super and wealth needs. Congratulations Cathryn on this significant achievement.