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Super Insurance Opt-In
Read more: Super Insurance Opt-InOn 1 July 2019, the government’s Protecting Your Super package introduces new laws designed to protect members from paying unnecessary fees and insurance premiums. If you have multiple superannuation accounts or superannuation accounts which are deemed to be inactive, you may have received a super insurance election form from your fund recently. Inactive super accounts are those which have not received super contributions for at least 16 months. From 1 July 2019, under the new “Protecting your Super” reforms, super funds will cancel insurance on inactive account. If you have an affected account your super fund would have contacted you.…
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TAL waives premiums for drought-affected farmers
Read more: TAL waives premiums for drought-affected farmersTo help support Aussie farmers impacted by the drought, TAL is offering up to a six month waiver on premiums to ensure farming families can maintain the cover they need, and provide some financial relief during this tough time. This wavier of premiums will be available to existing TAL customers holding policies directly with TAL who are qualify to receive the Federal Government’s Farm Household Allowance and who live in a drought-declared area of NSW or Queensland. Premiums will be waived for payments that are due from 1 September 2018 and eligible customers can apply for the waiver until 30…
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Deliverance From Bad Insurance
Read more: Deliverance From Bad InsuranceIf you’ve ever seen the classic film Deliverance you’ll know it’s the ultimate insurance advertisement. The character of Lewis, played by Burt Reynolds, begins the film proudly declaring, “I never been insured in my life. I don’t believe in insurance. There’s no risk.” Movie fate ensures the canoeing trip Lewis and his friends take is beset by disaster. Lewis ends the trip with a compound leg fracture. And for those who haven’t seen the film, he’s the lucky one! There’s probably no worse outcome than being uninsured and struck by some kind of misfortune – unless you’re insured and struck…
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ASIC Report Shows Pitfalls of Direct Life Insurance
Read more: ASIC Report Shows Pitfalls of Direct Life InsurancePart of being a financial advisory business involves jobs clients want to delegate or don’t want to do. Modelling financial outcomes, monitoring government legislation, compiling decades of data to formulate an investment philosophy – most recently it was reviewing ASIC’s 120-page report into Australia’s life insurance industry. It’ sounds a snooze, but it’s not when it underlines the importance of seeking advice when buying an insurance policy or making a claim – which is what ASIC’s report did. For the sake of the report “life insurance” amounted to life cover, TPD cover, trauma cover and income protection insurance and it…
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Have your Reality Check
Read more: Have your Reality CheckIt’s not something we like to think about, but with life comes risk. Life insurance should be an important component of your financial planning. If you have a young family and or rely on your income to pay your bills it could actually be the most important element of their security. Surprisingly though a lot of people do not have affordable life insurance. Among those who already have life insurance, a vast majority does not have enough coverage. Could you be one of them? Did you know one of the many insurance providers we use TAL paid out $51.6m in…
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