Upcoming Changes to New Income Protection Policies
In September 2020, APRA outlined the changes it wanted to see in place before 1st October 2021. Existing insurance policyholders are not impacted by these changes. As long as you keep paying your premiums. You may have noticed over the last 2 years that your insurance premiums have increased quite a bit. It may be time to review existing policies to make sure you are properly covered and not paying too much for insurance.
How is Your Financial Health?
As we pass the half year mark in the year it is always a good time to take stock of our current financial health and look at what else we need to do for the rest of the year. What goals have you set yourself and are you on track to achieve those goals? Here […]
Are Life Insurance Premiums Tax Deductible?
It’s tax time! One of the most common questions we get is “Can I deduct my insurance premium?” The tax treatment of life insurance premiums can be complicated. That said, if you can make your insurances as tax effective as possible, you can save many thousands of dollars over the life of your policies. In this article, we look at life insurance premiums and whether and/or how they can be deductible.
An Imperfect Insurance Cover is Better Than No Cover At All
Not having any income protection insurance when even a little would do is the most common mistake people make when it comes to risk insurance. Income protection insurance can be expensive. And, of course, ‘expensive’ is a relative concept. Something that is easily affordable for one person may not be affordable for someone on a […]
What Type of Life Insurance Do I Need?
We are often asked “What type of insurance cover do we need”? This week we examine the major types of life insurance and give our opinion as to who needs to take out each form of cover.
Insurance Inside Superfund or Outside?
It has always been a smart strategy to recommend life insurance be held inside a client’s super fund. This effectively makes the premium tax deductible, which maximises the after tax efficiency of the premium. In summary, it gets more after tax sum insured for the same after tax premium, so it’s definitely in most client’s […]
What Can Really Go Wrong for You?
An article in the financial planning press got us thinking… The article was straight from the text book. A classic case study of a middle age couple, employed by small businesses, with kids, school fees, a mortgage and ageing parents to worry about. Mr and Mrs Appleby, with average incomes: about $100,000 before tax between them. […]
Paying too much for life insurance? We can help reduce your premiums
Many life insurance policies pay commissions to financial advisers. Easy Refunds can collect these commissions and rebate them back to you. You can save it or spend it – the choice is yours! We’ve prepared an example to show you how you can potential receive thousands of dollars in commission rebates over the course of […]