Everyone wants to be in a financial position where they can choose whether or not they go work. But the reality is that to repay a mortgage, put food on the table and enjoy life, the income derived from working is a necessity.
Did you know that the average Australian family will earn over $2,000,000 over their working lifetime? It’s enough to pay off a mortgage, raise children and enjoy life provided everyone in the family stays healthy and earning an income.
Unfortunately the statistics tell us that’s not always what happens. Did you know that There is a 54% chance that one member of a couple in their early 30s will suffer a critical illness, be disabled or die before reaching 65.* Time off work might be temporary or permanent and most people will need funds to replace their lost income. That’s where insurance can help.
Using our financial modelling tools we will build a personalised model of your family’s future under various scenarios of health or illness. We then work with you to select appropriate insurance cover, within your budget and, if appropriate, within super. Life, Total and Permanent Disability, Trauma and Income Protection are insurance solutions we may consider. We can help you structure your insurances tax effectively and possibly inside super so that they have minimal impact on your cashflow.
Business protection and succession planning is critical for small business owners who need to consider business continuity to help with the loss of a key person and to avoid a forced sale.
Regular reviews, updated as your needs and wealth change, allows us to easily reassess the appropriate level of cover for you and your family. This will bring you confidence that you and your family can maintain your current lifestyle even if you are impacted by illness, injury or death.
* Source: MLC Limited ‘Wealth Protection. Strategies to protect what’s important to you 2006/2007’ https://www.mlc.com.au/docs/webcontent/pdf/Wealth_Protection_Strategy_Guide.pdf