Protecting what you have worked hard for is important, so it’s essential to get appropriate insurance cover. To do that, you need help.
Several types of products fall under the broad category of life insurance, including life cover, trauma cover, income protection, and total and permanent disability (TPD) insurance.
There are a number of ways you may be able to cut the cost of insurance without reducing your cover.
For example, some insurers offer ‘bundle’ discounts, which means they reduce premiums if you have several policies with the company.
Another option is to consider ‘stepped’ over ‘level’ premiums.
This may be a good option for new business owners or others who don’t have a lot of disposable income but expect to earn more over time.
Funding life insurance through a superannuation fund may be tax effective. In fact, it is common to use a super-linked policy when bundling life cover with TPD.
Before committing to any insurance, it’s crucial to speak with an expert adviser who will explain the different types of insurance and their applications and calculate what cover you need.
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· Approximately 30% of global tradable bonds are now at negative yields worth approximately $25 trillion. As we have noted in prior newsletters this situation is essentially a soft default and demonstrates a lack of confidence in the financial system.
Words by TWD:
The information in this Blog is of a general nature. It does not take your specific needs or circumstances into consideration. You should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.