One of the most rewarding things about being a financial adviser is seeing the positive impact an insurance policy can have on a family’s life.
That’s why I was particularly interested in the findings from a recent study that explored the impact the death of a parent has on children and the surviving parent, comparing the results between insured and uninsured households.
All good wealth accumulation strategies are underpinned with risk protection. The biggest asset most of us have in our working lives is our ability to earn an income, so protecting it for your benefit and your families just makes sense.
A partnership agreement is like an employment agreement or pre-nup between the partners. It is a framework for how the partners agree to work together and is intended to provide confidence and clarity to all partners now and in the future, including agreement on business succession.
Recently a client of ours, Anand, came to us seeking an opinion on his existing insurance cover.
We detailed his cover to him and explained the strengths and weaknesses of it and to Anand’s surprise there were many variables we identified that were not in his favour.
A lot of people think that they are well protected because they have insurance through their super but not many people stop and think to understand whether their cover is sufficient, or let alone know how much they have!
Stroke is the second biggest cause of death in Australia and a leading cause of disability. 1 in 6 Australians will suffer a stroke in their lifetime, with a stroke occurring every 10 minutes around the country. Stroke has both health and financial implications that many people fail to recognise, yet with education, your risk can be significantly reduced. Protect yourself and your family by knowing the warning signs to ensure a quick response should stroke occur.
The following case study is a look at how we helped clients of ours that had not reviewed how their business had changed since last they addressed their business partnership insurance needs. It demonstrates the process we took to determining appropriate changes to their insurance setup and the outcomes of that process.