insurance

Don’t accidentally lose your life cover

Don’t accidentally lose your life cover

For some people, the life and permanent disability insurance they hold within their super fund is the only life insurance they have.  They may be unaware that this insurance may be cancelled by their super fund, without their explicit consent on 1st July this year. The change in rules has come about because the government is concerned about the erosion of members’ super balances due to fees and charges for things they don’t need or

What you need to know about commission on life insurance

What you need to know about commission on life insurance

One of the biggest challenges facing financial planning as a profession is the need to shrug off its commission based origins. Early pioneers of financial advice were essentially door to door salesmen. Working for the big life companies and pounding the pavement, their wages were based on the number of policies sold. In some sections of the advice community, this style of remuneration is still very entrenched.  Even though a Statement of Advice document has

How much personal insurance do I need?

How much personal insurance do I need?

Would you and your family be impacted financially if you were no longer able to work?  If the answer is Yes, it is likely that you need to put some personal insurances in place (or review and update those that you currently have). But what type and how much cover do you actually need? (Hint: It is probably more than you think). Life: This type of insurance pays a lump sum to the policy owner

5 Things you should know about your Annual Super Statement

5 Things you should know about your Annual Super Statement

    It is that time of year again! Superannuation fund providers are preparing and sending out their annual statements. When yours arrives, here are a few things to check before filing it away.     1. Did you get more than one statement? If you have multiple superannuation accounts, it really is worth considering consolidating them. This will usually enable you to save on administration fees as well as making it easier to keep

You, your adviser and The Big Mistake

You, your adviser and The Big Mistake

I acquired the graphic accompanying this piece from some on-line learning I have just done on the topic of behavioural finance.  The image is brilliant in its simplicity, even though its underlying message is a complex one.  Your adviser stands between you and “The Big Mistake”.  But what does that mean? The obvious Big Financial Mistake is the catastrophic one; the major investment that goes bad, out of control spending and spiraling debts, or being

Are you being hunted for commission?

Are you being hunted for commission?

In order to keep my finger on the pulse, I am a regular reader of on-line adverts for positions vacant in financial planning.  Recently there have been a number of Insurance Sales Representative roles available.  No previous knowledge of insurance is usually required, just experience with outbound tele-sales, the ability to quickly build rapport and a “hunter” personality.  Base salary is fixed, but it is promised that successful candidates can add to that significantly through

What happens if your business partner can no longer work?

What if your business partner can no longer work

For small business owners, there are many immediate priorities to deal with on a daily basis and it is hard to make time for longer term planning.  However, if you are in business with someone else and you are both key to the normal running and success of your enterprise, have you considered what would happen if one of you were no longer able to continue working due to ill health or death? I saw