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 […]
Can I get some of the commissions back?
The life insurance industry is tainted with stories of financial advisers aggressively recommending policies that clients do not need to receive commissions off their policies. Here, we explore the relationship between the premiums you pay and the commissions the adviser receives as well as discuss how you can get some of those commissions back in […]
Life Insurance that You May Not Know You Had
Many working Australians – or Australians who used to work – have insurance of which they are unaware. This can be a huge relief if ever something goes wrong and you cannot work. If you or someone you know has become unable to work, then this article is a must-read. And if you think you might need help with a claim, please make sure you contact us.