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Insurance for Vets

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 business and lifestyle if you can’t work


  • Andrew is 38 years old and has recently purchased his own business which is due to open in 2 weeks’ time
  • He had Income Protection paid by his previous employer, however now that he is selfemployed he is concerned that he will have no income in the event he can’t work
  • There are significant debts due to the purchase of the business. $780,000 is secured against his home which has a current debt of $300,000
  • Andrew has default insurance through his industry super fund Australian Super
  • He has not considered Life and TPD insurance.

How was Guild Financial Planning able to help?

  • Through a comprehensive review of Andrew’s business and personal circumstances it was discovered that in the event of death or a total disability he would not have sufficient assets to cover his business and personal debt
  • We identified that the business would cease trading in the event of Andrew’s death or total disability due to his sole tradership
  • As a result, insurance cover was put in place to assist in covering a locum’s salary in the event of death or total disablement, to provide Andrew/his wife time to sell the business and not incur losses
  • We set-up Andrew’s insurances for maximum tax effectiveness - Life and TPD insurance through super and Income Protection outside of super
  • Income Protection has been recommended to cover his expected annual salary of $100,000, thus covering his monthly debt repayments and living costs should he not be able to work
  • We recommended a comprehensive and cost-effective insurance provider


  • Andrew has the assurance knowing that any debts will be covered, and won’t be left to his wife, in the event of his death or total disablement She will have 12 months to sell the business due to a locum’s salary being covered
  • Andrew now has an income stream of $6,250 per month until retirement age in the event he suffers from an illness or injury.
  • He is now paying Life and TPD insurance based on pre-tax dollars (15% discount), which has freed up his net cashflow
  • Andrew will be claiming a tax deduction of $459 per annum on his Income Protection policy

Speak with your Guild representative today, to find out how a Guild Financial Planning advisor can help you tailor the right level of cover for your needs.

This information is general in nature and is provided by Guild Financial Planning. It does not take into account the objectives, financial situation or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. 

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