Summary of the Pros and Cons of SMSF Life Insurance Key considerations when taking out SMSF insurance policies are: What are the main benefits of SMSF insurance policies?Provides insurance protection for members Can be tax effective vs personal ownership Reduces cashflow pressure by using the accumulated funds in the...
20 top tips to get the best value income protection insurance (Updated 1st October 2021 for income protection changes due to APRA Sustainability Measures)For some insurers Income Protection claims have almost doubled between 2017 and 2020. This has resulted in some sharp hikes in income protection...
Thinking about taking out income protection? Now is the time to actBy 1st October 2021, all major life insurance insurers must stop offering their current range of income protection policies and start issuing policies which comply with APRA’s Sustainability Measures.Existing income protection policies and their...
How does Coronavirus (COVID-19) affect Life Insurance policies? The novel coronavirus, or COVID-19 as it is more correctly known, has to date infected millions of people worldwide and been responsible for hundreds of thousands of deaths.Insurance Watch has received many enquiries from policyholders wondering:whether their...
What is a “Lazy tax”? Consumers often assume that insurance companies will reward them for their loyalty over time. However the reality is that many insurers are focused on making new sales and their best offers are only made available to new customers. In essence existing customers could...
Who is a “Tradie”Tradespeople, or “Tradies” as they are commonly known, are skilled workers usually with some kind of trade qualification. In many cases an apprenticeship is required before being qualified to practice. Some of the most common trades are:Builders Plumbers Electricians Mechanics Carpenters Boilermakers Masons Tilers Plasterers GlaziersNEWS ALERT: Major changes are coming to...
Why Life Insurance from your Super Fund may not be so super! The Productivity Commission estimated in 2018 that around 12 million Australians have life insurance, such as death, TPD and income protection, through their super fund. Most of this is default or automatic insurance.Auto acceptance...
How can I easily increase my insurance cover? If your insurance policy is guaranteed renewable you are covered regardless of future changes to your health, occupation or pastimes. But what if you realise that you don’t have enough cover and you need to increase your insurance...
Why do I need life insurance in my 50s and 60s? In many cases you can take out a life insurance policy up to the age of 75 and renew it until age 100.But why would you have life insurance past your 50s and 60s, particularly...