Wealth Protection (Personal & Business Insurance)

How well are you and your loved-ones financially protected should you suffer an accident, illness or other unforeseen disaster? 

Life insurance gives you the confidence to lead the life you want to live – knowing you’ve made plans to secure you and or your family’s future or Business continuity 

We can provide tailor made solutions covering:

• Life Insurance 
• Total & Permanent Disability (TPD) 
• Income protection 
• Trauma (Crisis) Cover 
• Business Overheads
• Buy/Sell agreements 

To prepare a sensible and understandable plan, our process include a thorough needs analysis of what cover you have if any, what is important to cover based on your financial, family or business position and cash flows, which is reviewed each year.

In our client engagement meetings any of the information you provide to us enables us to examine your current insurance cover and determine if you are adequately protected by it. If there are any shortfalls in your current personal protection strategy we will advise you that they may need to be reviewed.

What is Life Insurance?

Life Insurance ( death cover) can help your family or dependants cope financially after you die. Life Insurance pays a lump sum, in the event of your death which can be use used to :

• pay of your mortgage(s) or any other debts that may effect your families financial future
• cover funeral costs
• pay for child care or home help to aid you remaining spouse and 
• provide a reserve to generate an income stream from the interest earnings and the capital drawdowns should your remaining spouse continue not to work.

What is Total & Disability (TPD Insurance) ?

TPD Insurance can help you cope financially when disabled and unable to work again.

TPD Insurance pays a lump sum, which can be used to:

• pay for disability-related costs including rehabilitation;
• pay for changes to your lifestyle, for example, to refit your home;
• enable your partner to reduce their working hours to look after you or, alternatively, to get a carer;
• pay off your mortgage or any other debts you may have; and
• provide a reserve to use as an income replacement.

Trauma Cover 

Also known as Critical Illness Insurance can help you cope financially.

Critical illness events include conditions like cancer, heart attack, stroke, coronary bypass surgery and angioplasty. It can be taken as a stand-alone product, or in conjunction with Life Insurance or TPD Insurance.

Critical Illness Insurance pays a lump sum, which you can use to:

• pay for expensive recovery costs including rehabilitation;
• pay for changes to your lifestyle, for example, refit your home;
• enable your partner to reduce their working hours to look after you or, alternatively, to get a carer;
• pay off your mortgage; and
• cover the cost of extra child care or housekeeping.

Income Protection 

Income Protection can help you cope financially in the event of losing your income due to sickness or injury. Following the expiry of your waiting period you are entitled to a benefit if you are unable to earn your pre-disability income from personal exertion in your usual occupation, and you are under the regular care of (and following the advice of) a doctor. You can cover yourself for up to 75% of your income.

Income Protection Insurance pays an income stream, which you can use to:

• maintain a regular income through sickness and/or injury;
• retain the ability to pay your mortgage/rent, bills, ongoing normal expenses; and
• provide your partner the benefit of not having to increase their working hours.

Business Expense Insurance 

Business expense insurance covers your fixed business expenses following your chosen waiting period, if you suffer a loss of business income due to sickness or injury. Allowable Business Expenses include your share of those business expenses listed below plus any others which we specifically approve. Whether they're allowable may also depend on whether your office is the same as, or separate to your residential address.

• Rent or interest/fees on a loan to finance a premises

 • Insurance of a property (e.g. fire)

• Property rates/taxes • Security costs

• Repairs and maintenance

• Fixed line telephone

• Gas • Electricity • Water

• Mobile telephone • Cleaning and laundry

• Lease or financing costs (excluding payments attributable to the initial cost) on equipment excluding any taxi or truck which can and will be let out to generate income

 • Car lease (excluding taxi) • Registration and insurance of vehicles and equipment • Repairs and maintenance of equipment

• Salaries of employees who don’t generate any business income • Payroll tax on the above salaries • Superannuation in respect of the above salaries (Superannuation Guarantee Charge amounts only) • Regular advertising costs • Accounting and auditing fees

• Bank fees/charges and account transaction taxes • Interest/fees on loan to finance the business

• Professional association dues and subscriptions • Business insurance (e.g. public liability) • Postage

• Net cost of a locum (a suitably qualified replacement for you whose sales, income or billings are less than the cost to employ them)*. * If the gross sales, income or billings generated by the locum during that month exceed the fees incurred by the locum, we won’t reduce any benefit payable because of these excess amounts. For example, if the locum fees in a month were $2,500 and gross billings generated by the locum were $1,500, then the $1,000 net cost of the locum is an eligible business expense. However, if the locum fees were $2,500 and gross billings generated were $3,000 (i.e. a $500 profit), there would be no net cost of the locum and in addition we wouldn’t reduce eligible business expenses by the profit.

Allowable Business Expenses do not include: • salaries, fees or drawings and related costs paid to or for: • you, or • any member of your family unless they were a bona fide employee and were employed at least 30 days before you became disabled

• repayments of loan principal

• costs of equipment, books, fittings, fixtures, furniture, goods, implements, merchandise, stock or any other items of capital nature

• expenses met or reimbursed under other insurance that were not disclosed to us at the time you applied for the policy, or

• depreciation expenses. Key features

• Worldwide Cover • Automatic Increase

• Upgrades to your policy, and change to premiums • Payments Whilst Overseas

Buy /Sell Agreements 

The big question to ask is "would your business be able to buy a departing owners share should they die or suffer a serious injury or illness?

Buy /Sell insurance pays a lump sum if you or one of your business partner dies or suffers a serious injury or illness and are unable to continue working in the business. This payment will help ensure the remaining owners can effectively acquire the departing owners share and continue running the business. It typically helps ensure that the departing owner or estate is fairly compensated for what was their share in the business.

If your answer is no, then it may be time to transfer that risk to an insurance company. There are 3 types of risks that can be covered by Buy/Sell insurance.

1) The death if the business partner (Life insurance) 

2) Their total and Permanent disablement (TPD Insurance)

3) Them suffering a trauma such as a heart attack, stroke, cancer or paraplegia (Trauma insurance)