insurance

With premiums often running to thousands of dollars per year, whether or not to take out private health insurance is a major financial decision. Here are some of the key issues you need to consider in making that decision. Why go private? There are two main types of private health insurance: hospital cover, and general treatment (or extras) cover. In some states you may also need to take out ambulance cover. Many common treatments, including physiotherapy, optical and dentistry, are…

Personal insurance is designed to provide protection from the financial consequences of death or disability. It therefore forms an important part of most financial plans. Here, in brief, is how they work. What are the different types of personal insurance? Life insurance. This pays a lump sum benefit if you die.  Total and permanent disability insurance (TPD): This pays a lump sum benefit if you meet the definition of being totally and permanently disabled. It is often bundled with life…

One of the keys to financial success is to adopt the right strategy at the right time. As you move through the stages of life here are some tried and tested ‘secrets’ that will help you build and protect your wealth, so you can secure your financial future. Teens and young adults Time is on your side so get saving. Through the magic of compound interest, a little bit invested now can grow into a big amount over time. Most…

The argument has been waged for many years – do I take out health insurance or do I invest the same amount each year and if I get sick, the money will be available (and it’s earning me interest!)? As with any type of insurance the decision is a personal one. Many people go without car, home or life insurance, thinking that the money is better spent or invested elsewhere… they are willing to take that risk. But how many…

If there is anything we have learnt in the last two years, it is just how quickly things can change. Between devastating bushfires, floods, and a life-altering pandemic (just to name a few), being prepared and having life insurance for the unexpected has never been made more apparent. As confronting as it may be, it is essential to be aware of the grim possibility of unexpected death and the financial impact it would have on our family. Are they prepared…