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Insure Mate PTY LTD, 203/2 Infinity Drive, Truganina (2026)

07/09/2023

𝐖𝐡𝐚𝐭 𝐫𝐨𝐥𝐞 𝐝𝐨 𝐩𝐚𝐫𝐞𝐧𝐭𝐬 𝐩𝐥𝐚𝐲 𝐢𝐧 𝐭𝐡𝐞𝐢𝐫 𝐤𝐢𝐝𝐬 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧?

𝑻𝒉𝒆 𝒆𝒂𝒓𝒍𝒊𝒆𝒓 𝒌𝒊𝒅𝒔 𝒔𝒕𝒂𝒓𝒕 𝒘𝒊𝒕𝒉 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝒆𝒅𝒖𝒄𝒂𝒕𝒊𝒐𝒏, 𝒕𝒉𝒆 𝒃𝒆𝒕𝒕𝒆𝒓 𝒆𝒒𝒖𝒊𝒑𝒑𝒆𝒅 𝒕𝒉𝒆𝒚 𝒂𝒓𝒆 𝒕𝒐 𝒔𝒆𝒄𝒖𝒓𝒆 𝒕𝒉𝒆𝒊𝒓 𝒇𝒖𝒕𝒖𝒓𝒆 𝒂𝒏𝒅 𝒕𝒐 𝒉𝒂𝒗𝒆 𝒕𝒉𝒆 𝒇𝒓𝒆𝒆𝒅𝒐𝒎 𝒕𝒐 𝒑𝒖𝒓𝒔𝒖𝒆 𝒕𝒉𝒆𝒊𝒓 𝒅𝒓𝒆𝒂𝒎𝒔.
With financial literacy arguably underrepresented in the national curriculum, parents are largely responsible for teaching their children the important financial concepts and life skills associated with managing money. So how are they doing?
Unfortunately, not very well it would seem.
A 2017 Financial Basics Foundation survey of 1,100 high students from around Australia found that teenagers financial confidence was much higher than their actual financial capability. The overall results suggesting that our kids are increasingly at risk of financial failure.
Formal education should not be relied upon solely to provide a complete understanding of financial literacy, parents do need to take their part in their children’s financial education seriously. Generally, the advice is to hand some financial responsibility over to your children: allow them to manage finances attributed to them, make them work at home for their ‘extras’ money, and encourage them to get a part time job while they are in school. All creating an invaluable experience.
One of the strongest voices on the importance of parents taking the lead on financial education is Scott Pape otherwise known as. Scott urges parents to view pocket money/allowance as a tool for financial education, and not to give children money for nothing. The idea being they already get their food, board and education paid for so they should work for the extras to understand the nature and value of money.
Scott also promotes parents sharing their income and expenses with their kids, so they can develop an understanding of cash flow and the expenses involved in running a household and he believes that every graduate should have had the experience of holding down a part time job.
The information on this website is general in nature. Any financial advice it contains is general advice only and has been prepared without taking into account the objectives, financial situation or needs of any particular person. The website content is not intended to be a substitute for professional advice, so before you act on it you should determine its appropriateness having regard to your particular objectives, financial situation and needs, and seek any professional advice you require. Before deciding whether to acquire, dispose of or hold an investment in a Netwealth product, you should obtain and consider the relevant disclosure document. Past performance of a product is not a reliable indicator of future performance.
Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

24/08/2023

𝐀𝐠𝐞 𝐩𝐞𝐧𝐬𝐢𝐨𝐧 𝐜𝐡𝐚𝐧𝐠𝐞𝐬: 𝐰𝐡𝐚𝐭 𝐭𝐡𝐞𝐲 𝐦𝐞𝐚𝐧 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭
𝘊𝘩𝘢𝘯𝘨𝘦𝘴 𝘵𝘰 𝘵𝘩𝘦 𝘢𝘨𝘦 𝘱𝘦𝘯𝘴𝘪𝘰𝘯 𝘤𝘢𝘮𝘦 𝘪𝘯𝘵𝘰 𝘦𝘧𝘧𝘦𝘤𝘵 𝘰𝘯 1 𝘑𝘶𝘭𝘺 2023. 𝘏𝘦𝘳𝘦’𝘴 𝘸𝘩𝘢𝘵 𝘤𝘩𝘢𝘯𝘨𝘦𝘥 𝘢𝘯𝘥 𝘩𝘰𝘸 𝘪𝘵 𝘤𝘰𝘶𝘭𝘥 𝘢𝘧𝘧𝘦𝘤𝘵 𝘈𝘶𝘴𝘵𝘳𝘢𝘭𝘪𝘢𝘯𝘴 𝘦𝘯𝘵𝘦𝘳𝘪𝘯𝘨 𝘳𝘦𝘵𝘪𝘳𝘦𝘮𝘦𝘯𝘵.
A couple of age pension changes recently came into effect:
1. Age pension age has increased from 66.5 to 67
2. Income and assets thresholds have increased for the income and assets tests So what does this mean for Australians planning their retirement?
The first change means that if you were born after 31 December 1956, you will qualify for the age pension only at 67 years. The government has taken this step to encourage Australians to stay in the workforce longer in light of labour shortages.

The second change means that some who previously earned or owned a higher amount may now be eligible for at least a part pension. Here’s a quick snapshot of some of the threshold changes.
You can find all threshold figures on the Services Australia website.
While the increase in thresholds is welcome news for Australians planning retirement, many still won’t be eligible for the age pension, and those who are could still find it difficult to get by on. This is why it may be important to have your own retirement safeguards in place.

I can create a plan unique to your specific needs and circumstances to get you on the right track for a comfortable retirement. While incorporating the age pension can be useful for some, I can also look at making the most of your superannuation and any investments you have, and create projections to give you an idea of how far your money can stretch based on various scenarios, along with options to convert some of your superannuation into lifetime income.
We can also get your insurances in order — a crucial but often forgotten step in protecting your financial future. Get in touch and we can plan ahead.
Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement. Superannuation, tax and social security law is complex. You should take advice from a professional, considering your own personal situation, before deciding a course of action.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

17/08/2023

𝐅𝐢𝐧𝐝 𝐨𝐮𝐭 𝐰𝐡𝐚𝐭 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧𝐬 𝐜𝐥𝐚𝐢𝐦 𝐦𝐨𝐬𝐭 𝐨𝐧 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞
𝘈𝘴 𝘢 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘥𝘷𝘪𝘴𝘦𝘳, 𝘪𝘵’𝘴 𝘱𝘢𝘳𝘵 𝘰𝘧 𝘮𝘺 𝘳𝘰𝘭𝘦 𝘵𝘰 𝘤𝘰𝘯𝘴𝘪𝘥𝘦𝘳 𝘵𝘩𝘦 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘪𝘰𝘯 𝘰𝘧 𝘺𝘰𝘶𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘸𝘩𝘦𝘳𝘦 𝘴𝘶𝘪𝘵𝘢𝘣𝘭𝘦. 𝘉𝘶𝘵 𝘴𝘰𝘮𝘦 𝘤𝘭𝘪𝘦𝘯𝘵𝘴 𝘮𝘢𝘺 𝘸𝘰𝘳𝘳𝘺 𝘵𝘩𝘢𝘵 𝘵𝘩𝘦𝘺’𝘳𝘦 𝘱𝘢𝘺𝘪𝘯𝘨 𝘧𝘰𝘳 𝘢 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘵𝘩𝘢𝘵 𝘸𝘰𝘯’𝘵 𝘥𝘦𝘭𝘪𝘷𝘦𝘳 𝘸𝘩𝘦𝘯 𝘵𝘩𝘦𝘺 𝘯𝘦𝘦𝘥 𝘪𝘵 𝘮𝘰𝘴𝘵. 𝘚𝘰, 𝘩𝘦𝘳𝘦’𝘴 𝘸𝘩𝘢𝘵 𝘵𝘩𝘦 𝘳𝘦𝘢𝘭-𝘭𝘪𝘧𝘦 𝘰𝘶𝘵𝘤𝘰𝘮𝘦𝘴 𝘴𝘩𝘰𝘸 𝘶𝘴.

When it comes to life insurance, there’s a common misconception that insurance companies rarely pay out claims. But a look at actual claims data quickly dispels this myth.

The latest figures published by the Australian Prudential Regulation Authority (APRA) show that 𝐨𝐯𝐞𝐫 90% 𝐨𝐟 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐜𝐥𝐚𝐢𝐦𝐬 𝐰𝐞𝐫𝐞 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥. This is an overwhelmingly positive result for Australian families seeking financial support at some of life’s most difficult times: when seriously sick or injured and unable to work, or when a loved one they depended on has passed.

The number of claims that are declined are notably low. Generally, claims are unsuccessful when there’s a mismatch between claim reasons and the policy terms and conditions. For example, an insurer may decline where a claim is attempted on a pre-existing medical condition, or where a pre-existing condition was not disclosed at the time of application. Even then, an insurer will usually take the condition into account and may offer altered policy conditions retrospectively in an effort to cover customers wherever possible and reasonable.

The likelihood of a successful claim usually comes down to ensuring you know what the insurance product covers and completing your initial application as accurately as possible. This is where I can help; APRA’s Life insurance claims and disputes statistics December 2022 show that 𝐲𝐨𝐮’𝐫𝐞 𝐦𝐨𝐫𝐞 𝐥𝐢𝐤𝐞𝐥𝐲 𝐭𝐨 𝐡𝐚𝐯𝐞 𝐚 𝐬𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐜𝐥𝐚𝐢𝐦 𝐰𝐡𝐞𝐫𝐞 𝐲𝐨𝐮 𝐭𝐚𝐤𝐞 𝐨𝐮𝐭 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐚𝐧 𝐚𝐝𝐯𝐢𝐬𝐞𝐫 rather than on your own. For example, in the period between June 2018 and December 2022:
• 87% of total and permanent disability (TPD) claims were successful where the policy was taken out through an adviser, compared to 77% where the customer purchased their insurance on their own, and
• 95% of income protection claims for adviser-purchased policies were successful, compared to 89% for individually purchased policies.

It goes without saying: if you’re going to invest in protecting yourself and your family with life insurance, you’ll want to give yourself the best chances of a successful claim if you ever needed it. Don’t hesitate to reach out if you’d like to discuss the set-up or review of your life insurance arrangements.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.

If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122

[email protected]

09/08/2023

𝐋𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐨𝐩𝐭𝐢𝐨𝐧𝐬 𝐭𝐨 𝐬𝐮𝐢𝐭 𝐲𝐨𝐮 𝐚𝐧𝐝 𝐲𝐨𝐮𝐫 𝐟𝐚𝐦𝐢𝐥𝐲
𝘛𝘩𝘦𝘳𝘦’𝘴 𝘯𝘰 𝘥𝘦𝘯𝘺𝘪𝘯𝘨 𝘵𝘩𝘢𝘵 𝘳𝘢𝘪𝘴𝘪𝘯𝘨 𝘢 𝘧𝘢𝘮𝘪𝘭𝘺 𝘤𝘢𝘯 𝘣𝘦 𝘦𝘹𝘱𝘦𝘯𝘴𝘪𝘷𝘦, 𝘢𝘯𝘥 𝘴𝘰𝘮𝘦𝘵𝘪𝘮𝘦𝘴 𝘪𝘵’𝘴 𝘢 𝘤𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘦 𝘵𝘰 𝘫𝘶𝘨𝘨𝘭𝘦 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘱𝘳𝘪𝘰𝘳𝘪𝘵𝘪𝘦𝘴. 𝘛𝘩𝘦 𝘨𝘰𝘰𝘥 𝘯𝘦𝘸𝘴 𝘪𝘴 𝘸𝘩𝘦𝘯 𝘪𝘵 𝘤𝘰𝘮𝘦𝘴 𝘵𝘰 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦, 𝘵𝘩𝘦𝘳𝘦 𝘢𝘳𝘦 𝘸𝘢𝘺𝘴 𝘵𝘰 𝘢𝘧𝘧𝘰𝘳𝘥𝘢𝘣𝘭𝘺 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘺𝘰𝘶𝘳 𝘪𝘯𝘤𝘰𝘮𝘦, 𝘭𝘪𝘧𝘦 𝘢𝘯𝘥 𝘭𝘦𝘨𝘢𝘤𝘺 𝘴𝘰 𝘺𝘰𝘶 𝘤𝘢𝘯 𝘬𝘦𝘦𝘱 𝘮𝘦𝘦𝘵𝘪𝘯𝘨 𝘦𝘷𝘦𝘳𝘺𝘥𝘢𝘺 𝘭𝘪𝘷𝘪𝘯𝘨 𝘦𝘹𝘱𝘦𝘯𝘴𝘦𝘴 𝘸𝘩𝘪𝘭𝘦 𝘩𝘢𝘷𝘪𝘯𝘨 𝘱𝘦𝘢𝘤𝘦 𝘰𝘧 𝘮𝘪𝘯𝘥 𝘵𝘩𝘢𝘵 𝘺𝘰𝘶𝘳 𝘧𝘢𝘮𝘪𝘭𝘺 𝘪𝘴 𝘱𝘳𝘰𝘵𝘦𝘤𝘵𝘦𝘥.

𝐖𝐡𝐲 𝐩𝐫𝐢𝐨𝐫𝐢𝐭𝐢𝐬𝐞 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞?
If you’ve got a family, you should consider protecting them through insurance. There are different types of life insurance products designed to provide financial support if you become ill or injured or if you were to pass away. These are all challenging times for families, and insurance can help relieve the financial burden when it’s needed the most. Our ability to earn an income is often something we don’t think about protecting until we actually need it. Being proactive can make a huge difference to your future if things were to take a turn for the worse.

𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐬𝐮𝐩𝐞𝐫 — 𝐩𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐭𝐡𝐚𝐭 𝐰𝐨𝐧’𝐭 𝐚𝐟𝐟𝐞𝐜𝐭 𝐲𝐨𝐮𝐫 𝐭𝐚𝐤𝐞-𝐡𝐨𝐦𝐞 𝐩𝐚𝐲
Most super funds provide life (or ‘death’) and total and permanent disability (TPD) cover, and many also provide income protection, to eligible members. Premiums are deducted from your super balance instead of your bank account, so there’s no impact on your take-home pay. It’s a convenient and affordable way to safeguard yourself and your family.
While most super funds provide a default level of life and TPD cover, and often income protection as well, there’s a risk that the cover may not be sufficient to meet your needs. Insurance through super isn’t tailored to your personal circumstances, so the cover and conditions may not be optimal for your family’s protection. Let me know if you’d like me to check whether you have insurance through super and if it’s right for your situation.

𝐂𝐡𝐞𝐜𝐤 𝐲𝐨𝐮𝐫 𝐜𝐨𝐯𝐞𝐫 𝐦𝐚𝐭𝐜𝐡𝐞𝐬 𝐲𝐨𝐮𝐫 𝐥𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞
Another way to keep insurance affordable is to review it often and make sure you have the right cover in place. If you aren’t, you may be paying more in premiums than you need to. For instance, as you reduce your debts, you probably won’t need as much life insurance cover, and you may look at reducing it so you’re paying less in premiums. Insurance should be reviewed when you experience life changes, like a change in job or income, having a child, or having a
career break. These are all good prompts to give me a call so we can review your finances and keep them on track.

𝐇𝐨𝐰 𝐈 𝐜𝐚𝐧 𝐡𝐞𝐥𝐩
I can help you check your cover levels — inside and outside of super — and see if the amount and types you have suit your budget and needs, so you can rest assured that your family is properly protected.
Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether
to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

03/08/2023

𝐇𝐨𝐰 𝐭𝐨 𝐬𝐭𝐚𝐲 𝐫𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐭 𝐢𝐧 𝐮𝐧𝐜𝐞𝐫𝐭𝐚𝐢𝐧 𝐭𝐢𝐦𝐞𝐬
There’s no denying that we’re living in interesting times. Unemployment is at historic lows in Australia and, off the back of a pandemic, consumers spent freely throughout 20221.
Nonetheless, some economists have warned that high interest rates, combined with the falling real wages caused by high inflation, could cool the economy to the point of a recession in the second half of 20232. On top of all that, there’s the potential for the Ukraine-Russia or China-Taiwan conflicts to escalate in the coming months.
While economists have their predictions for 2023 and beyond, nobody can know for certain what interest rates, investment returns or inflation we’ll see over the coming months. This uncertainty can feel uncomfortable at best, but there are things you can do to help stay resilient until the dust settles.

𝐅𝐨𝐜𝐮𝐬 𝐨𝐧 𝐭𝐢𝐦𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐧𝐨𝐭 𝐭𝐢𝐦𝐢𝐧𝐠 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭
A turbulent market can play havoc with our emotions, but being able to tolerate a certain degree of volatility can be part and parcel of being an investor. And, while markets go up and down in the short term, it’s important to remember that over the long term, the Australian share market has seen a general upward trend and healthy returns. And, investors who patiently play the long game, usually manage to come out on top.
A look back at share market history can often be reassuring. Between 1900-2021, the Australian share market has returned an average of 13.2% per annum3. Australian residential property markets haven’t performed quite as well. Nonetheless, depending on where it’s located, your home would have increased in value by an average of 3.9%-5.9% every year for the last three decades.
Of course, if you’re close to retirement, time may not be on your side. In which case, there are a few strategies that can help with minimising the impact of market volatility on your retirement plans.

𝐑𝐞𝐬𝐢𝐬𝐭 𝐭𝐡𝐞 𝐮𝐫𝐠𝐞 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐡𝐚𝐬𝐭𝐲 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬
While we can take great comfort in what history tells us, it’s only human to want to maximise your gains when markets are performing, and minimise your losses when an economic downturn appears to be looming. However, acting impulsively and following the herd can be a risky investment strategy.
After the pandemic arrived, many Australians changed how their super money was invested. For example, they switched from a high growth investment option to a conservative one. In a study to analyse switch decisions between 1 January 2020 and 31 March 2021, Griffith University found that Australians made a lot of ‘bad switches’. The study found that half of super fund members who switched during the crisis period would have been better off doing nothing.
Vanguard recently conducted similar research into investors who alter their investment strategy in response to changing economic conditions. Their study found it to be extremely hard to consistently identify the best times to buy into and sell out of markets. Even if an investor somehow manages to do this, generally the gains are marginal when compared with someone who simply buys assets and patiently holds on to them.

𝐆𝐨 𝐛𝐚𝐜𝐤 𝐚𝐧𝐝 𝐫𝐞𝐯𝐢𝐞𝐰 𝐲𝐨𝐮𝐫 𝐚𝐬𝐬𝐞𝐭 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐲
For some, it can be easy to take a dispassionate view of market movements. Whereas, for others, it can be challenging to remain coolly rational when the value of your assets is declining or threatening to decline. One way to reduce anxiety during turbulent times can be to go back and remind yourself of why (and how) you chose to invest in the first place.
A good starting point can be to remind yourself of your medium and long-term goals. What is it that you want to achieve in the next 2, 5, 10 or 20 years? With those goals in mind, look at your current asset allocation and investment strategy to see if it still makes sense for you, your risk profile and your goals for the future.
Doing this exercise can help you feel reassured to stay the course with your existing strategy, or more equipped to rationally and calmly make some adjustments, if that’s what’s needed.

𝐒𝐭𝐚𝐲 𝐯𝐢𝐠𝐢𝐥𝐚𝐧𝐭 𝐚𝐛𝐨𝐮𝐭 𝐜𝐚𝐬𝐡 𝐟𝐥𝐨𝐰
Of course, coping with market volatility is just one part of staying financially resilient. While inflation and interest rates feel out of control at the moment, there are other things you can do to help with improving your financial resilience closer to home, such as staying vigilant about your cash flow - now and in the next couple of years.

For example, building up a decent emergency buffer. Having a sizable amount of money set aside for unplanned expenses or a safety net if your finances come under pressure can go a long way to helping you stay cool and confident about your position. You may even decide to postpone big, non-urgent expenses and instead channel this money into your emergency fund, if that will provide you with more security and peace of mind.

It’s also a good idea to really understand what you can live on, if you need to. While your household finances may be OK for now, knowing what outgoings you can quickly trim back on, can go a long way to helping you feel more confident that your budget has some room to breathe. One way to do this, can be to ‘bucket’ your spending into ‘essentials’ and ‘non-essential’ buckets. Doing this will quickly help you identify what income you truly need to live on.
The coming months are likely to test many investors and households, financially and otherwise. As we move through this period of uncertainty, keeping on top of your short term finances and having a sensible investment strategy to help build your wealth over the long term can help you with staying sane, and on track with your goals.
If you have any questions about underwriting or life insurance in general, please feel free to contact me. I’m here to help you find the best solution for your situation and goals.
Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

27/07/2023

𝐇𝐨𝐰 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐮𝐧𝐝𝐞𝐫𝐰𝐫𝐢𝐭𝐢𝐧𝐠 𝐰𝐨𝐫𝐤𝐬
𝘞𝘩𝘦𝘯 𝘺𝘰𝘶 𝘢𝘱𝘱𝘭𝘺 𝘧𝘰𝘳 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦, 𝘺𝘰𝘶 𝘮𝘢𝘺 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘷𝘪𝘥𝘦 𝘴𝘰𝘮𝘦 𝘱𝘦𝘳𝘴𝘰𝘯𝘢𝘭 𝘥𝘦𝘵𝘢𝘪𝘭𝘴 𝘢𝘣𝘰𝘶𝘵 𝘺𝘰𝘶𝘳 𝘩𝘦𝘢𝘭𝘵𝘩, 𝘭𝘪𝘧𝘦𝘴𝘵𝘺𝘭𝘦, 𝘢𝘯𝘥 𝘸𝘰𝘳𝘬. 𝘛𝘩𝘦 𝘪𝘯𝘴𝘶𝘳𝘦𝘳 𝘢𝘴𝘴𝘦𝘴𝘴𝘦𝘴 𝘵𝘩𝘦𝘴𝘦 𝘧𝘢𝘤𝘵𝘰𝘳𝘴 𝘥𝘶𝘳𝘪𝘯𝘨 𝘢 𝘱𝘳𝘰𝘤𝘦𝘴𝘴 𝘬𝘯𝘰𝘸𝘯 𝘢𝘴 ‘𝘶𝘯𝘥𝘦𝘳𝘸𝘳𝘪𝘵𝘪𝘯𝘨’. 𝘏𝘦𝘳𝘦, 𝘐’𝘭𝘭 𝘦𝘹𝘱𝘭𝘢𝘪𝘯 𝘸𝘩𝘢𝘵 𝘶𝘯𝘥𝘦𝘳𝘸𝘳𝘪𝘵𝘪𝘯𝘨 𝘪𝘴 𝘢𝘯𝘥 𝘩𝘰𝘸 𝘪𝘵 𝘤𝘢𝘯 𝘪𝘮𝘱𝘢𝘤𝘵 𝘺𝘰𝘶𝘳 𝘱𝘰𝘭𝘪𝘤𝘺 𝘱𝘳𝘦𝘮𝘪𝘶𝘮𝘴 𝘢𝘯𝘥 𝘤𝘰𝘯𝘥𝘪𝘵𝘪𝘰𝘯𝘴.

Underwriting involves an insurer assessing the risk of covering you. To do this, they consider things like your health, lifestyle, and occupation. The insurer uses underwriting to work out your premium amount, as well as any special terms and conditions that may apply to your policy. The process enables the insurer to decide whether they can offer you cover, even if you may have a medical condition or a hazardous occupation or pastime.

When you apply for life insurance, you will usually need to provide information about your personal and medical history, like your:
• age, gender, weight and height
• smoking status and alcohol consumption
• family health history
• current and past health conditions and treatments
• occupation and hobbies.

The insurer will then evaluate your risk level and decide whether to accept, decline, or offer a policy with some modified terms. For example, after underwriting they may decide to charge a higher or lower premium, exclude certain health conditions or events from your cover, or limit your cover amount. Generally, the healthier you, your medical history and your habits are, the less likely it is for your application to be declined or be offered with policy exclusions.

In some cases, you may also need to provide extra information or evidence. For example, if you have a pre-existing medical condition, the insurer may ask for results from a medical examination, or a report from your doctor. To work out the amount of cover they are prepared to offer, they may need a financial statement, or proof of your income.

The underwriting process can take anywhere from a few days to several weeks, depending on the complexity of your circumstances and the availability of information required. If you apply for insurance through me, I’ll help you complete your application and keep track of the underwriting process to ensure it’s completed as efficiently as possible.

If you have any questions about underwriting or life insurance in general, please feel free to contact me. I’m here to help you find the best solution for your situation and goals.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

20/07/2023

𝐂𝐡𝐨𝐨𝐬𝐢𝐧𝐠 𝐚 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐫𝐲
𝘗𝘦𝘰𝘱𝘭𝘦 𝘵𝘢𝘬𝘦 𝘰𝘶𝘵 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦 𝘱𝘦𝘰𝘱𝘭𝘦 𝘤𝘭𝘰𝘴𝘦𝘴𝘵 𝘵𝘰 𝘵𝘩𝘦𝘮. 𝘐𝘧 𝘺𝘰𝘶 𝘢𝘳𝘦 𝘥𝘪𝘢𝘨𝘯𝘰𝘴𝘦𝘥 𝘸𝘪𝘵𝘩 𝘢 𝘵𝘦𝘳𝘮𝘪𝘯𝘢𝘭 𝘪𝘭𝘭𝘯𝘦𝘴𝘴 𝘰𝘳 𝘶𝘯𝘦𝘹𝘱𝘦𝘤𝘵𝘦𝘥𝘭𝘺 𝘱𝘢𝘴𝘴 𝘢𝘸𝘢𝘺, 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘤𝘢𝘯 𝘱𝘳𝘰𝘷𝘪𝘥𝘦 𝘢 𝘭𝘶𝘮𝘱 𝘴𝘶𝘮 𝘵𝘰 𝘺𝘰𝘶𝘳 𝘭𝘰𝘷𝘦𝘥 𝘰𝘯𝘦𝘴 𝘵𝘰 𝘩𝘦𝘭𝘱 𝘵𝘩𝘦𝘮 𝘤𝘰𝘷𝘦𝘳 𝘰𝘶𝘵𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨 𝘥𝘦𝘣𝘵𝘴 𝘢𝘯𝘥 𝘦𝘷𝘦𝘳𝘺𝘥𝘢𝘺 𝘦𝘹𝘱𝘦𝘯𝘴𝘦𝘴. 𝘛𝘩𝘢𝘵’𝘴 𝘸𝘩𝘺 𝘤𝘩𝘰𝘰𝘴𝘪𝘯𝘨 𝘸𝘩𝘰 𝘨𝘦𝘵𝘴 𝘺𝘰𝘶𝘳 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘱𝘢𝘺𝘰𝘶𝘵 𝘪𝘴 𝘢𝘯 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯.

𝑾𝒉𝒂𝒕 𝒊𝒔 𝒂 ‘𝒃𝒆𝒏𝒆𝒇𝒊𝒄𝒊𝒂𝒓𝒚’?
In the context of life insurance, a beneficiary is the person or entity that benefits from your insurance policy by receiving your payout.

𝑾𝒉𝒐 𝒄𝒂𝒏 𝑰 𝒏𝒐𝒎𝒊𝒏𝒂𝒕𝒆?
A life insurance beneficiary could be a person, trust, charity or even estate. You can have more than one beneficiary on your policy — for example, you might have a few people nominated, or some people and a charity. If you nominate more than one beneficiary, you’ll also need to let the insurer know the portion you’d like each to receive.
Any person you nominate generally needs to be at least 18 years old to receive the benefit. You can still nominate someone younger, but any payout would be held in a trust until they turn 18. This is important to keep in mind if you’re getting life insurance to protect your children.
When you’re choosing your beneficiaries, you should consider who depends on you financially, and who would be affected by any outstanding debt you have.

𝑾𝒉𝒆𝒏 𝒅𝒐 𝑰 𝒏𝒐𝒎𝒊𝒏𝒂𝒕𝒆 𝒂 𝒃𝒆𝒏𝒆𝒇𝒊𝒄𝒊𝒂𝒓𝒚?
You’ll usually need to nominate a beneficiary when you apply for your life insurance, but that doesn’t mean it’s something you should set and forget about. You can change your nomination at any time — for example, you might be single now but married with a spouse and children down the track (in this case, you’d likely need to review the amount you’re insured for too). Or perhaps someone ends up needing more support than your original beneficiary. This is why it’s important to review your insurance regularly — you may need to update your beneficiary nominations.

𝑳𝒆𝒕 𝒑𝒆𝒐𝒑𝒍𝒆 𝒌𝒏𝒐𝒘
It’s important to talk your decision through with the people you’re closest to — clear communication can save family members from confusion and misunderstandings later on. It’s a big decision — remember, you can get in touch with me if you feel you need to talk it through.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

13/07/2023

𝐀 𝐛𝐞𝐠𝐢𝐧𝐧𝐞𝐫’𝐬 𝐠𝐮𝐢𝐝𝐞 𝐭𝐨 𝐭𝐡𝐞 𝐟𝐢𝐫𝐬𝐭 𝐡𝐨𝐦𝐞 𝐬𝐮𝐩𝐞𝐫 𝐬𝐚𝐯𝐞𝐫 𝐬𝐜𝐡𝐞𝐦𝐞
𝘠𝘰𝘶 𝘮𝘢𝘺 𝘣𝘦 𝘦𝘭𝘪𝘨𝘪𝘣𝘭𝘦 𝘵𝘰 𝘶𝘴𝘦 𝘺𝘰𝘶𝘳 𝘴𝘶𝘱𝘦𝘳𝘢𝘯𝘯𝘶𝘢𝘵𝘪𝘰𝘯 𝘵𝘰 𝘩𝘦𝘭𝘱 𝘣𝘶𝘺 𝘺𝘰𝘶𝘳 𝘧𝘪𝘳𝘴𝘵 𝘩𝘰𝘮𝘦 𝘶𝘴𝘪𝘯𝘨 𝘵𝘩𝘦 𝘧𝘪𝘳𝘴𝘵 𝘩𝘰𝘮𝘦 𝘴𝘶𝘱𝘦𝘳 𝘴𝘢𝘷𝘦𝘳 𝘴𝘤𝘩𝘦𝘮𝘦. 𝘉𝘦𝘭𝘰𝘸 𝘪𝘴 𝘢 𝘲𝘶𝘪𝘤𝘬 𝘰𝘷𝘦𝘳𝘷𝘪𝘦𝘸 𝘰𝘧 𝘵𝘩𝘦 𝘣𝘢𝘴𝘪𝘤𝘴.
There are a lot of things to think about during the home-buying journey — it can feel both exciting and daunting, especially if it’s your first time. If you’re in the early planning phase and working out ways to save for your deposit, the first home super saver (FHSS) scheme may be something worth looking at.
The FHSS scheme allows you to save for your first home deposit within your superannuation account. The scheme may be an opportunity for some to save on tax — eligible super contributions are taxed at 15% compared to your marginal tax rate outside super. The higher your tax rate, the better the benefits.
To participate in the FHSS, you need to meet certain criteria. You must be 18 years or older, have never owned property in Australia before, and intend to live in the property you purchase as your principal place of residence. These contributions can be made through salary sacrifice or personal contributions. Once you’re ready to buy your first home, you can apply to release your funds.
Under the scheme, up to $15,000 in eligible super contributions can count towards your first home savings each
financial year.
Let’s look at how the tax savings could translate for an individual earning $100,000 a year and making a $15,000 a year concessional contribution into super, for their first home deposit:
𝐌𝐚𝐫𝐠𝐢𝐧𝐚𝐥 𝐓𝐚𝐱 𝐫𝐚𝐭𝐞
Outside Super:- 34.5% (including Medicare Ievy)
Inside Super:- 15%

𝐓𝐚𝐱 𝐏𝐚𝐲𝐚𝐛𝐥𝐞
Outside Super:- $5,175
Inside Super:- $2,250

𝐍𝐞𝐭 𝐚𝐦𝐨𝐮𝐧𝐭 𝐬𝐚𝐯𝐞𝐝 𝐩𝐞𝐫 𝐲𝐞𝐚𝐫
Outside Super:- $9,825
Inside Super:- $12,750

There are rules and process complexities that you should be aware of before making additional super contributions or deciding to save for your deposit with the scheme. For example, once your money is in super, you can only release funds to purchase your first home. So, if you change your mind and decide not to buy, or if you don’t meet all eligibility requirements, your money will remain in the superannuation system until you meet normal super withdrawal eligibility criteria (generally, until you retire).
Let me know if you want to learn more about the scheme and how it may fit into your overall financial goals.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

06/07/2023

𝐖𝐡𝐚𝐭 𝐭𝐨 𝐞𝐱𝐩𝐞𝐜𝐭 𝐰𝐡𝐞𝐧 𝐦𝐚𝐤𝐢𝐧𝐠 𝐚 𝐥𝐢𝐟𝐞 𝐢𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐜𝐥𝐚𝐢𝐦
𝘐𝘧 𝘺𝘰𝘶𝘳 𝘩𝘦𝘢𝘭𝘵𝘩 𝘦𝘷𝘦𝘳 𝘵𝘢𝘬𝘦𝘴 𝘢 𝘵𝘶𝘳𝘯 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘸𝘰𝘳𝘴𝘦, 𝘺𝘰𝘶 𝘮𝘢𝘺 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘮𝘢𝘬𝘦 𝘢 𝘤𝘭𝘢𝘪𝘮 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘭𝘪𝘧𝘦 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦. 𝘏𝘦𝘳𝘦’𝘴 𝘢 𝘴𝘶𝘮𝘮𝘢𝘳𝘺 𝘰𝘧 𝘩𝘰𝘸 𝘵𝘩𝘦 𝘤𝘭𝘢𝘪𝘮𝘴 𝘱𝘳𝘰𝘤𝘦𝘴𝘴 𝘸𝘰𝘳𝘬𝘴, 𝘢𝘯𝘥 𝘩𝘰𝘸 𝘐 𝘤𝘢𝘯 𝘩𝘦𝘭𝘱 𝘺𝘰𝘶 𝘢𝘭𝘰𝘯𝘨 𝘵𝘩𝘦 𝘸𝘢𝘺.

𝐖𝐡𝐞𝐧 𝐰𝐨𝐮𝐥𝐝 𝐲𝐨𝐮 𝐦𝐚𝐤𝐞 𝐚 𝐜𝐥𝐚𝐢𝐦?
The reasons for making a claim vary depending on the type of life insurance you have. You or your family might seek to make a claim if you become too ill or injured to work, are diagnosed with a critical illness, become totally and permanently disabled, or pass away.

𝐇𝐨𝐰 𝐭𝐨 𝐦𝐚𝐤𝐞 𝐚 𝐜𝐥𝐚𝐢𝐦
If you set up your insurance policy with me, the first step is to get in touch. I’ll talk you through the process and help get your claim started. If you organised insurance through your super fund or directly with the insurer, you should contact them, and they’ll provide you with next steps. You’re welcome to give me a call either way and we can discuss the next steps.
The claims process will involve providing information to the insurer so they can assess your eligibility. They may ask for things like your medical reports and test results, payslips, tax returns, details of your work duties, or (where claiming on a life insurance policy) a death certificate or medical report stating the cause of death.
Sometimes, your insurer may need to speak to your doctor directly, but they’ll always seek your permission first. They may also request you see an appointed specialist for an independent medical examination. And if you need to be on an income protection payout for a while, you may need to have regular medical check-ups and complete progress claim forms.

𝐇𝐨𝐰 𝐥𝐨𝐧𝐠 𝐝𝐨𝐞𝐬 𝐚 𝐜𝐥𝐚𝐢𝐦 𝐭𝐚𝐤𝐞?
This depends on the type of insurance you’re claiming on and the complexity of your situation. Generally, the quicker your insurer receives the information they need, the sooner you’re likely to get your claim result. I can help speed up the process by keeping tabs on the progress of your claim and following up with the insurer on your behalf, so you’ve got more time to focus on your wellbeing.

𝐈’𝐦 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐡𝐞𝐥𝐩
When you’re already dealing with health issues, coordinating a claim can feel overwhelming. Please don’t hesitate to reach out to me if you find yourself in this situation. Setting up your insurance is just one part of my job — remember, I’m here to help you at claim time too.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether
to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

29/06/2023

𝐓𝐢𝐩𝐬 𝐨𝐧 𝐫𝐞𝐚𝐝𝐢𝐧𝐠 𝐚 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐏𝐃𝐒
𝘈 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘥𝘪𝘴𝘤𝘭𝘰𝘴𝘶𝘳𝘦 𝘴𝘵𝘢𝘵𝘦𝘮𝘦𝘯𝘵 (𝘗𝘋𝘚) 𝘪𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘩𝘦𝘭𝘱 𝘺𝘰𝘶 𝘮𝘢𝘬𝘦 𝘢𝘯 𝘪𝘯𝘧𝘰𝘳𝘮𝘦𝘥 𝘥𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘣𝘦𝘧𝘰𝘳𝘦 𝘺𝘰𝘶 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘦 𝘢 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘱𝘳𝘰𝘥𝘶𝘤𝘵. 𝘐𝘵’𝘴 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵 𝘵𝘰 𝘳𝘦𝘢𝘥 𝘵𝘩𝘦 𝘗𝘋𝘚 𝘣𝘦𝘧𝘰𝘳𝘦 𝘤𝘰𝘮𝘮𝘪𝘵𝘵𝘪𝘯𝘨 𝘵𝘰 𝘢 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘱𝘳𝘰𝘥𝘶𝘤𝘵 𝘴𝘰 𝘺𝘰𝘶 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘺𝘰𝘶’𝘳𝘦 𝘨𝘦𝘵𝘵𝘪𝘯𝘨. 𝘏𝘦𝘳𝘦’𝘴 𝘸𝘩𝘢𝘵’𝘴 𝘶𝘴𝘶𝘢𝘭𝘭𝘺 𝘤𝘰𝘷𝘦𝘳𝘦𝘥 𝘪𝘯 𝘢 𝘗𝘋𝘚 𝘢𝘯𝘥 𝘩𝘰𝘸 𝘵𝘰 𝘢𝘱𝘱𝘳𝘰𝘢𝘤𝘩 𝘳𝘦𝘢𝘥𝘪𝘯𝘨 𝘰𝘯𝘦.

𝐖𝐡𝐚𝐭’𝐬 𝐢𝐧 𝐚 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐝𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐬𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭?
Under Australian law, you must be given a PDS before you buy a financial product. Laws also set out what must be included in a PDS — you can usually expect information on product benefits, risks, fees, terms and conditions, and complaints procedures.

𝐇𝐨𝐰 𝐝𝐨 𝐈 𝐫𝐞𝐚𝐝 𝐚 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐝𝐢𝐬𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐬𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭?
Firstly, it’s important you read the entire PDS document rather than skimming it. Don’t forget, you’re purchasing a financial product — when you’re purchasing a financial product you need to be fully informed. Try to take your time reading the document. If you come across details that raise questions, note them down and either ask me or the product provider directly.
If you’re looking for something specific, there are some shortcuts to help you navigate a PDS more easily. Most PDS documents start with a table of contents, so you can simply turn to the section you’re looking for. If you’re reading on a screen, you can use the search function to scan the document for keywords like ‘benefits’ or ‘fees’. A glossary is often included too, so if you’re having trouble with any jargon, flick to the glossary and check for definitions there.

𝐖𝐡𝐚𝐭 𝐭𝐨 𝐥𝐨𝐨𝐤 𝐟𝐨𝐫
Many of us will want to know what fees are involved in a product, but there are other things you should take note of too. For example, if you’re looking at life insurance, you’ll want to understand how the insurer defines different cover types, what is specifically covered under the policy, any medical definitions, and how the claims process works. If you’re left with any questions after reading a PDS, that’s not a bad thing! You can contact me or the product provider to clarify any questions you may have.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.
If you’d like to discuss any of the content in this article and how it may apply to you, please call me on 0426 200 122
[email protected]

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