From 31 March 2020, Life Insurance companies no longer offer Agreed Value policies (agreed value means the level of cover can be set at the time the policy is and will hold ongoing). Following this change, only Indemnity income protection policies will be offered which effectively limits the value of a claim with most recent […]
Super Improvements High income earners with more than one employer (eg Company Directorships) can from 1 Jan 2020 opt out of having the 2nd or 3rd employer paying compulsory superannuation where an individual will exceed the concessional cap of $25k. This avoids a member being forced to deal with excess contributions. For the first time […]
Some years ago Robert Ford and his wife, Nerrida committed to a strategy to make smart decisions with their money. They agreed to target financial independence, privately educate their two children and visit overseas family every other year. As part of this initial strategy and our ongoing meetings we talk about insurances, including the increasing […]
Keep Us Informed Many insurance policies include extra benefits such as partial payments for specified injuries, the ability to apply for new cover without medical underwriting following a significant personal event (e.g. birth of a child or taking out a mortgage), premium waivers if made redundant or child trauma cover for specified illnesses. If you […]
Currently individuals and families who hold private health insurance generally receive a 30% Government rebate on the premiums. From 1 July 2012 the eligibility for this rebate will be income tested and singles earning over $83,000 pa and couples/families earning over $166,000 pa will receive a lower rebate (refer table 1). Table 1 – Changes […]