When it comes to personal insurance, having some insurance is better than nothing, however just having an insurance policy in place does not mean you are adequately insured. If you hold your personal insurances through an Industry Super fund, you may not have the insurance cover that you think you do. The true value of any insurance policy comes in the wording of the policy. The devil really is in the detail.
Super Challenge #3 - But I thought I was covered!
If you have Life Insurance, Income Protection or Total and Permanent Disability Insurances held through your Super Fund... it doesn’t mean you are covered.
In the third of our “Super Challenge” series, we challenge you to check on your insurance cover. It may not be all it’s cracked up to be. Unfortunately, without checking most people only find out that their insurance is inadequate when they need it most – when they make a claim.
Life Insurance plays a key role in Estate Planning
A recent White Paper published by a leading insurance company indicates that the underinsured gap for life insurance is closing in Australia. However, Wealth Fundamentals’ advisers say that while this is an encouraging sign, there is still more to be done in educating consumers on the role of life insurance within their estate planning as a whole. In other words, what happens to insurance funds in the unfortunate event of a claim?
Will your wealth outlive you?
Protecting the fate of your finances goes well beyond your Will. Whilst your Will covers personal assets, it does not include your superannuation, life insurance and assets held in Trusts or Companies. Failure to plan for the fate of these finances could see those you love facing unnecessary costs, complications and confusions. Here, we reveal 5 key considerations for planning your Estate.