Life is moving forward at a rapid pace and every day seems to present a new challenge  or opportunity. You might have started your own business, be juggling the demands  of a career and family or even encountered a life event that you hadn’t anticipated.

When it comes to managing change, one of the most important things to consider is having the appropriate levels of insurance cover in place. Did you know that, according to TNS Research, 96 per cent of Australian families do not have enough life insurance to adequately protect their families for 10 years or more? As you can imagine, this could have devastating consequences, particularly if you have a young family or are self-employed. If you were unable to work how would you:

  • Maintain your home and lifestyle
  • Continue your business if you are self employed
  • Support yourself and your family

As part of our lifetime advice investment philosophy we are here to help you navigate your way through life’s changes with careful planning, wealth accumulation and risk protection strategies.

Case study

Tom and Sarah are married, both aged 44 and have  a mortgage of over $500,000 outstanding on their home. They have two children who they are currently putting through private school. David is a financial controller earning $130,000 per annum and Sarah  is a nurse earning $65,000 per annum. They currently have $300,000 worth of equity in their family home and an investment portfolio of $200,000. David has life insurance cover through his superannuation, but no income protection or cover for total and permanent disablement or trauma.

How we can help

Like many Australian families, Tom and Sarah are underinsured. In the event Tom was unable to work due to sickness or injury, Sarah would be the sole income earner and her salary would need to stretch to cover mortgage repayments, school tuition and any medical expenses.
We would work with Tom and Sarah to make sure they had adequate risk insurance protection strategies in place, so that they would be financially looked after in the event one was unable to work. We would also put in place a wealth accumulation strategy that would ensure they had adequate funds available in retirement.

Areas of focus:

  • Accelerated wealth accumulation and investments  including gearing and tax effective strategies
  • Superannuation strategies, such as salary sacrifice
  • Risk insurance review in accordance with income  and obligations
  • Estate planning considerations
  • Retirement planning

The decisions you make now can have an impact on how your finances will look  in the future. To find out how one of our qualified advisers can help you take the first steps towards financial independence, call us today on 5366 1000