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Category : Insurance

The Four Main Types of Insurance.

  • Willard Lloyd
  • November 20, 2019
Reading Time: 6 minutes

All of these four insurances can be called “life insurance” as they are all insuring your life.

  • Death cover
  • Total & Permanent Disability (TPD) Cover
  • Trauma or Critical Illness cover
  • Income Protection (or salary continuance)

3 Main Categories of Life Insurance

  • Willard Lloyd
  • November 12, 2019
Reading Time: 4 minutes

The three main categories of life insurance available in Australia

The complexity of insurance within Australia can seem difficult to understand with this article we hope to relive any murky knowledge around the understanding and help influence your decision to ensure you are best protected.

Direct Insurance (Crappy – but better than nothing)

Group Insurance (on balance pretty crappy – but OK cause it’s better than nothing)

Retail Insurance (the only real option for those serious about protecting themselves or their family).

Dementia: How to future-proof your finances

  • Willard Lloyd
  • September 3, 2019
Reading Time: 4 minutes

Dementia: How to future-proof your finances

As life expectancies increase, dementia will become an ever-more important issue. The good news is that it is normally a condition that progresses slowly, thus giving families plenty of time to prepare for it. Don’t fall for the myth that your spouse or next of kin can make financial decisions on your behalf in the absence of an enduring power of attorney. Don’t fall for the myth that your spouse or next of kin can make financial decisions on your behalf in the absence of an enduring power of attorney. The bad news is that there is no current cure and that many people move to avoidance, instead of preparation, and thereby leave themselves at risk of huge financial problems down the track. It is critically important to have an enduring power of attorney (EPA) in place long before it appears to be needed. The person giving the EPA must have the capacity to do so.

Understanding Your Life Insurance Policy

Reading Time: 2 minutes

Understanding your life insurance policy, and establishing from the beginning, that it is the right policy for you will save you time, money and potentially reduce the level of frustration when it comes to making a future claim. It has been reported that there is a 50% probability of a life event occurring, to any one person, that would result in the payment of a personal insurance claim whether it be life, total or disability insurance.

Consulting with a financial/insurance adviser will ensure that you haven’t wasted, or about to waste, money that could be put to better use, by contributing to a gifted policy by either employer or Superfund. Often there are circumstances where, in such policies, the claim may be reduced to almost nil payment.

Trauma insurance – how versus how much

Reading Time: 11 minutes

In our opinion, trauma insurance is one of the most important insurance contracts that our clients should have. Over the past 4 years we have had several trauma insurance claims ranging from a $180,000 partial claim to $1,000,000. This has prompted me to write the following article on Trauma Insurance and the logical approach to how much cover is enough cover. Thankfully we have never had a trauma insurance claim not paid.