Needing Life Assets
Starting Out
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Finished university or tafe?
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Starting to earn real money for the first time in your life?
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Sick of living with flatmates or your mum and dad?
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Just moved in with your partner?
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Dream of owning your own home?
Needing Life Assets
Needing Life Assets is the first stage of your starting your journey to financial freedom.
It is now that you sow the seeds of your financial success. Life Assets can help with budgeting and savings plans as well as protecting your hard earned income.
Income Protection Insurance
Should you become ill or have a serious accident that stops you from working for a prolonged period, the lack of income could seriously jeopardise your financial plans and future. This is especially true for those who have outstanding mortgages and personal loans. In these instances, income protection cover should be considered to guard against prolonged income loss.
Income protection Insurance primarily provides the following benefits;
A regular income benefit of up to 80% of your gross earnings for a set period of time.
Fully tax deductible premiums, effectively reducing your out of pocket expenses
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Most Income Protection Policies through an employer super fund will only have a 2 year benefit period. Due to these policies falling under the discretion of the super fund trustees, in some instances the Trustee may elect to pay a lump sum equal to six months of the monthly benefit without any further payments. As income protection payments are generally treated as assessable income the tax man would further dilute this payout.
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.
