Protect your financial future with insurance that covers everything you need.
Insurance is designed to help you to manage risk and to protect your assets and income from any unexpected events or unforeseeable circumstances you encounter that may lead to a financial loss.
There are three main types of insurance. These are general, personal and business insurance.
Personal insurance refers to an insurance policy that covers you as an individual such as Life insurance, Total and Permanent Disability insurance, Trauma insurance and Income Protection insurance. If you hold any Private Health insurance (hospital and extras cover) this is also covered by personal insurance.
It is important that you personalise insurance to your own situation and needs. You should review policies on a regular basis, ensuring that they remain competitive and continue to reflect any alterations in your life.
These can be related to your personal and family situation, health, career, finances, income, level of assets, debt or health circumstances. Regular revisions also minimise the risk that you will find yourself over or under-insured in the event that your circumstances change.
When reviewing your insurance policies, here are 5 key things that you should consider:
- Have a calendar reminder one month before your policy renewal dates in order to give yourself plenty of time to review them.
- Be sure to review your current level of insurance by measuring the sum insured against your current needs. You may wish to speak to your adviser if this is an area of concern.
- Make sure to check that all the information you have provided to your insurer or financial adviser is current and up to date.
- When comparing options, don’t solely focus on price, consider the varying features and benefits that each policy offers you, being careful to look at all of the inclusions within each of the policies.
- As the insurance market is very competitive, a better premium rate or a new policy with additional features may be available for you to upgrade to.
Make sure that if you are making any changes to check carefully to make sure that you are not losing any of your current benefits. In these situations, high-quality advice can make a real difference.
When it comes to managing and protecting your financial future, reviewing your insurance policy regularly is a great habit to get into, but you should always remember to seek professional advice if you are unsure or before making any changes.
A great time to review your insurance policies is when any significant change occurs in your personal circumstances. This could involve a new family member arriving, buying or selling a house or a change in your employment circumstances.
Our Financial Advisors Specialise In
- Life insurance
- Income protection insurance
- Total Permanent Disability insurance (TPD)
- Trauma insurance
- Insurance through superannuation
People often don’t realise the importance of finding insurance that is tailored to their lifestyle and circumstances. As experienced financial advisors, we can help you find the correct insurance, maximise the benefits and understand the important factors.
My Wealth Solutions can help you organise cost-effective insurance that covers all the necessary areas of your life so that you can feel safe knowing you and your partner or family have a secure financial future.