No matter what age you are, having the right insurance is essential to your financial security and to protect your current lifestyle, business and retirement plans.
Are you confident that you have the right insurance in place? Guild Financial Planning advisors can work with you to review your current policies and ensure you have the right insurance in place to meet your needs, both now and in the future.
Case study: Protecting your income in case you can’t work
- Chris is a self-employed dentist aged 43
- He is married with children aged 4 & 7
- Currently has a Life & TPD policy through his industry fund
- Chris was unaware that his existing TPD policy would not cover his occupation as a dentist
- He has minimal Life & TPD and an Income Protection within his super fund which only had a 2-year benefit period
- There is currently no trauma cover in place
How was Guild Financial Planning able to help?
- A comprehensive needs analysis was conducted which determined the appropriate levels of insurance cover required to meet Chris’s needs
- Identified the correct TPD occupation policy to ensure a claims payment if Chris could not work as a dentist
- Structured his TPD policy via a super linked arrangement to make the premiums more tax effective and affordable
- Took out an Income Protection policy with greater features and benefits compared to his current industry fund policy, including a benefit period that will cover him till a retirement age of 65
- Recommended Trauma cover to ensure that he is adequately covered in this area
- Chris has peace of mind knowing that his insurances are structured correctly and that he has the appropriate levels of cover in place to meet his needs, should he ever not be able to work
- He saved money on premiums through structuring his TPD policy via a super linked arrangement