Displaying items by tag: Life Insurance

COVID-19 & Life Insurances FAQs

Here's our most frequently asked questions by clients about Life Insurance policies, COVID-19 and vaccinations

FAQs about Life Insurance policies and COVID-19 in Australia

Australia is now in the middle of the COVID-19 pandemic and learning to live and work with lockdowns and public health orders.

With rolling lockdowns and much general uncertainty ahead, as we race towards the nation's next mass vaccination target, it's only natural people are looking for certainty and asking important questions about 'whether COVID-19 affects their life insurance policies in any way?'

Many of our clients have got in touch with questions about cover and how pending vaccinations might affect their rights to cover or a claim in the future.

Well we have some good news to share.

Here are some of the most frequently asked questions we’ve received about life insurances and COVID-19 and COVID-19 Vaccinations.

Published in Blog

Getting your Life Insurance policy and Income Protection policy can sometimes take longer than people might expect and the main reason why is simple;

Once you have this type of policy, it can’t be taken away from you or cancelled by the insurance company, regardless of any future changes to your health or occupation.

The life insurance Underwriter has to get it right the first time, because they don't get a second chance to fix a problem they may have originally overlooked.

Published in Blog

Can you still get life insurance with a history of drug use?

There's one thing we can all agree on and that's 'Life is complicated at times'.

Getting on with life today regardless of our decisions yesterday is even more complicated; so it's important to talk about what matters most and know where we stand.

  • In 2019, around 3.4 million Australians reported using an illicit (recreational) drug in the last 12 months.1

So how does having a history of personal drug use affect your ability to get life insurances and create a safety net for yourself and your family?

Here's what you need to know ahead of time, when getting your life insurances sorted and have previously used recreational drugs.

Published in Blog

Living with depression or an anxiety disorder shouldn’t stop you from getting your life insurances sorted.

As if living with a mental illness, like anxiety or depression, wasn’t difficult enough - getting your life insurance sorted when you're living with these conditions can seem overwhelming too.

Thankfully good mental health is now becoming part of the regular conversations for many Australians.

Here are tips to help navigate the application process.

  • About 3 million Australians are living with a form of anxiety or depression (Beyond Blue, 2020) and at least 45 per cent of Australians will experience a mental health issue at some point in their lives. (SANE, 2019)
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Most Australians report preferring to talk to their parents about sex, rather than money

When it comes to the reality of talking with our parents about money and aging, there is never really a right time. But there is probably a better time - and this is what you can do about that.

If you're part of the Sandwich Generation, there's a good chance you’ll become part of the growing number of adult children who will have to get involved with their parents' financial lives as they age.

Yet, the overwhelming majority of adult children – have not had detailed conversations with their parents about their finances, their estate wishes and plans.

Published in Blog

New rules for people under 25 who have super fund balances under $6,000

The new rules called Putting Members' Interests First start April 1st 2020.

Why is this important?

Most people automatically get a small level of Life Insurance and Total & Permanent Disablement (TPD) insurance when they join a super fund.

  • From 1 April 2020, if your under 25 (or with an account balance below $6,000) and have insurance automatically provided to you by your super fund, the insurance rules have changed.
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Life Insurance and Super each have one thing in common...

If you don't legally decide today who you want to get your money tomorrow, someone else will make that decision for you - and you might not like the result.

Simply put, you can nominate in writing who you want to receive any future payout with a Beneficiary Nomination or Binding Death Nomination (depending upon what you choose).

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Diabetes in Australia is our fastest growing chronic condition.

Each day 280 Australians develop this disease.

  • 56% are males
  • 44% are females

The onset of Type 1 Diabetes mellitus (T1DM) occurs most frequently in people under 30 years, however, new research suggests almost half of all people who develop the condition are diagnosed over the age of 30.

Published in Blog

The long-term effect of grief over the loss of a family member.

A recent report about Millennials and Generation X’ers who lost a parent while growing up confirmed what most people already suspected - the impact of the loss lasts a lifetime.  A third of those surveyed said, ‘I've never really gotten over my loss’.

Published in Blog

Life insurance inside your super has special rules you need to understand - especially if you're a blended family.

You need to let your super fund (and life insurance company) know who you want as a beneficiary to receive any payout made upon your death.

This is especially important if your life insurance is owned by your super fund because there are additional rules you need to understand.  If you don't, then you'll leave a whole lot of unnecessary pain and problems for your survivors.

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Understanding diverse families, diabetes and specialty life insurance

Video Transcript

00:00 -04:01

Australia is one of the most beautiful and expensive places to raise a family today. So it's no wonder that most couples agree, 'anxiety about money and increasing levels of debt' causes significant family stress'.

Life insurance is an essential expense for any couple. But for same-sex couples who rely on the income of one or more family members to pay the bills, life insurance is a necessity.

The Australian census records around 20% of lesbian couples and 5% of gay male couples in Australia are raising children, and that number is rising.

Today's modern families are as different as their aspirations. So whether your family is biological or logical, whether you're a parent, co-parent or part of someone's family of choice, we understand that key family relationships are about love.

Published in Videos
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