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Insurance

What is it? Who Needs it? And Why?

 

Life / Term Cover: Offers a lump sum payment, in the unfortunate event of death of the life insured.

 

Total and Permanent Disability: For an extra premium, you can add this insurance to your Life Cover insurance. You can choose to have part or all of your benefit paid if you become disabled or lose your independence as defined in the policy.

 
Critical Illness/Trauma/Recovery: Serious illnesses can be financially critical, especially if you are not protected. We all know of someone who has suffered the effects of cancer, heart disease or stroke. The chances of major illness striking you down are very real no matter how young or healthy you are. Critical Illness pays a lump sum to the policy owner which can pay for medical treatment or daily living.

 

Income Protection: Have you protected your most important asset - your income? It is hard to imagine being off work for months, but disabling sicknesses and injuries happen every day. More than half of all serious accidents happen outside of work, so workers' compensation does not always apply. Being able to provide for your family, pay the mortgage or meet any of your regular expenses while unable to work is a very real problem. You would be surprised how much you can earn in your lifetime and how important it is to protect your income. Income Protection insurance can pay you a regular income if you are off work due to a sickness or accident. You can receive a monthly benefit of up to 75% of your earnings every month until you recover and can return to work, or up to age 65, depending on the benefit period you select.

 

Superannuation

Superannuation is one of the best ways to save and invest for your retirement. The main reason of course is the favourable tax treatment.
 After all, what other investment has a tax rate on earnings as low as 15%?
In some cases, you can even claim a tax deduction or rebate on your contributions.
 
With many Australians, having one or more jobs over the years, is not that uncommon to lose track of all your superannuation policies. 
How about consolidating them?
 To hard, well let us do all the work for you.

Superannuation is like a savings plan for retirement; it has tax concessions and cannot be accessed until retirement, or of age 65.
 One choice you may like to make is whether to amalgamate all your superannuation into one policy.
 You can organise to have your employer pay your compulsory 9% superannuation into your personal superannuation.
 
Other choices are available such as to consider would be whether you would like to contribute to your superannuation via salary sacrifice deposits, personal contributions, and/or spouse contributions.
 
It is important to diversify your investments across the superannuation structure. To diversify means not to “put all your eggs into one basket”, but to spread the risk across all asset classes. This means varying your investments in cash, fixed interest, bonds, Australian and International shares, and property.
 
With all the new laws going through recently, what are you waiting for?
 
Speak to Gurney Financial Services.
"The advice contained herein does not take into account any persons particular objectives, needs or financial situation. Before making a decision regarding the acquisition or disposal of a Financial Product persons should assess whether the advice is appropriate to their objectives, needs or financial situation. Persons may wish to make this assessment themselves or seek the help of an adviser. No responsibility is taken for persons acting on the information provided. Persons doing so, do so at their own risk. Before acquiring a financial product a person should obtain a Product Disclosure Statement (PDS) relating to that product and consider the contents of the PDS before making a decision about whether to acquire the product
 

  Gurney Financial Services is dedicated to serving the local community, individuals, families and small business with reliable financial planning. Let the team at Gurney Financial Services manage your Superannuation, Insurance and Investments for you, while you look after your family and business.

 

© Gurney Financial Services, Copyright © 2011

 

 
Tarnia Gurney t/a Gurney Financial Services, ABN 85 296 598 954  ASIC Number 292206 provides financial planning advice as Authorised Representative of of Sentry Financial Planning AFSL (247 105) ABN 74 099 029 526