Enjoying Life Assets
Retirement
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Finally, you don’t have to get out of bed to go to work anymore?
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Wondering how to survive on a Centrelink benefit from age 65?
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Concerned you will outlast your superannuation?
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Want to make sure your estate is passed on as per your wishes?
Enjoying Life Assets
To be updated
Life Insurance
Essentially, life insurance provides a lump sum amount to your estate or nominated beneficiaries in the event of your death.
Life cover provides your dependants with a lump sum benefit upon your death. This lump sum can be used to eliminate debt, cover funeral and other expenses, and/or fund your children’s education.
Another use for a lump sum benefit is to provide a continuing income stream to your family or dependents creating certainty around maintaining lifestyle needs for your surviving spouse or partner.
Life Insurance can also be held in inside your superannuation fund with your employer contributions paying the premiums.
'Life Insurance held inside super represents only 20% of the cover needed.'
‘Fast Fact: A Nation Exposed’, Investment and Financial Services Association, August 2005
It is important that the level of cover you need be reassessed each year to ensure it is appropriate for your circumstances. Please contact us.
Total and Permanent Disablement
(TPD) Insurance
TPD insurance provides you with a lump sum payment in the event that you become seriously ill or injured and are unlikely to ever be able to work again. The definition of total and permanently disabled varies among insurance companies and policies. The old horror stories of TPD definitions have greatly improved over time. Some definitions are limited to your ability to work in your actual occupation, whilst others consider your ability to work in any job. TPD is usually only available with life cover although there are now some “stand alone” products available.
If you are totally and permanent disabled, there is a chance that you will not be fully mobile or that you require special nursing care. In addition to objectives such as debt elimination and future income needs, you should therefore consider funding for home and vehicle modifications and for potential nursing care costs.
It is important that the level of cover you need be reassessed each year to ensure it is appropriate for your circumstances. Please contact us.
