Wealth Protection

Life takes twists and turns that we can’t always see coming. That’s why it’s so important that we are prepared for life’s emergencies. You don’t want to leave it to chance.

An accident, sickness or death of a working age parent will almost always have a significant impact on the financial circumstances of the family. Despite this Rice Warner Actuaries calculate that over 95 per cent of families do not have adequate insurance.

Having the right insurances in place can help protect your family and your income if the unexpected occurs. That’s where Wealth Management Planners across Brisbane North Strathpine and Bald Hills can protect your assets with a wealth protection plan.

There are different types of cover that fall under the broad heading of life insurance. We can offer wealth protection in the following insurance cover options:

Life cover– also known as term life insurance or death cover, pays a set amount of money when the insured person dies. The money will go to the people you nominate as beneficiaries on your policy.

Total and permanent disability (TPD) cover– covers the costs of rehabilitation, debt repayments and the future cost of living if you are totally and permanently disabled. TPD cover is often bundled together with life cover.

Trauma cover– provides cover if you are diagnosed with a specified illness or injury. These policies include the major illnesses or injuries that will make a significant impact on a person’s life, such as cancer or a stroke. It is also referred to as ‘critical illness’ cover or ‘recovery’ insurance.

Income protection– replaces the income lost through your inability to work due to injury or sickness.

HOW WE CAN HELP

Lifelong Wealth has access to a large range of insurers and we can tailor your wealth protection plan to suit your circumstances. We will make the insurance process as simple as possible and help you get the right cover to protect you and those you love with a financial safety net in the event that the unexpected occurs.

AREN’T I ALREADY COVERED THROUGH MY WORK AND THE GOVERNMENT?

You may be eligible for some compensations and entitlements depending on your situation (for example Workcover, Sick leave, Social Security). However will these be enough? Will you qualify? And what are the waiting periods?

Get in touch with our qualified financial advisors and wealth management planners in Brisbane North on +61731885140 to discuss how we can help you and your family financially with a wealth protection package that meets your needs.

^{[1] The Economic Cost of Underinsurance for a Typical Family, Volume 3, Issue 3 2010}
^{[2] ASIC www.moneysmart.gov.au}

Wealth Protection FAQ's

We protect everything else – our cars, our health, our homes yet we don’t prioritise protecting our lives. Life insurance, TPD, Trauma and income protection are vital to provide you with financial security in the unlikely event of serious injury, illness or death.

Income protection provides you with a regular income in the case of serious illness or injury where you have to take time off work. To answer whether you need income protection or not, ask yourself instead do you have the financial resources to maintain your standard of living if you were unable to work? Most of us don’t, and therefore income protection is necessary.

Right now! Changes in your circumstances generally should be followed by a review of your insurance, such as starting a new role. It is also important to review your waiting period and benefit period to ensure you are not over or underinsured.

There are a range of strategies to accumulate your wealth over your lifetime. Our focus is not ‘getting rich quick’ schemes but rather assisting you over time to take advantage of tax strategies, super & pension advice and investment opportunities to reach your goals in the future.

We assist people with a range of assets, from just starting out to being retired. You don’t need a lot to get started on the journey and we assist you to make the most of your finances, no matter where you’re at. There are always steps you can take now to start improving your financial position. Come see our advisers at Bald Hills to get started now.

A managed fund is where you pool your investments together with other investors and pay a professional to make all the investment decisions for you instead of you being actively involved in the decision.