Yes, that was the question during the school drop off run

Yes, that was the question during the school drop off run.

We all know what it means. If you have an accident at work or on the roads or maybe the shopping mall then you need to blame someone.

What was that phone number & yes it’s on the TV so let’s call them.

“crows on a wire’ was a term Andrew used on Sky Business today.

No doubt they do a ‘fact find’ to ascertain whether they are a chance of winning a lump sum probably from an insurance company.

Our answer as we do ½ hour maths every night included ‘what is 30% of say 50,000 = ?’

The challenge is how to you meet your commitments before the payout?

As clients have told us they had to wait eight years.

Where to you get those funds in the meantime & the stress & no doubt the medical bills that go with it.

Let’s remember these claims are for accidents only.

What happens if you have a stroke?

What happens to your future credit rating if you are unable due to disability meet your Commitments?

We heard at our latest Professional development day that it is the stroke or the cancer or the trauma or the critical illness that the insurance companies make the least on.

i.e. they pay out most in trauma claims &  hence you might consider such cover first.

What is the solution?

It is to have your plan for the downside.

Remember as our Young travel agent said ‘if you can’t afford the insurance you can’t afford the trip’.

A premium is always less than the alternatives which could be the loss of your current lifestyle or your assets & certainly your ‘peace of mind’

 

Where do you go?

Yes you can shop online & go directly to the insurance company & not even get off the couch.

Then what happens?

Here is what a company that does both direct & also uses advisers had to say at our PD day.

·         Rates for Direct i.e. directly to a company, life insurance can be up to 200% more & on average 40% more.

·         Direct is designed to accept the easy ‘clean skin’ applications & decline most others.

·         Suicide & other pre-existing conditions have exclusions for up to 5 years.

·         Dangerous pastimes & occupations are excluded for the life of the policy.

·         It is at claim time that the 40 questions which weren’t asked on application are now asked.

·         Claim payments are less than 50%.

·         45% of income & trauma covers are underwritten at claim time.

·         Higher nondisclosure by applicants. What does that mean?

·         Limited cover & reduces with age. When are you more likely if not probably going to need the cover?

Good luck.

But with a non aligned  adviser you get

o   Help during the claims process

o   The adviser knows what cover you have

o   The adviser know the client & hence goes the extra mile

o   The adviser is on your case if you change bank accounts, change address or miss a premium.

o   He wants that cover in force when you need it.

o   We provide the help you want when you want it

o   When do you want to answer the 40 questions? Now or at claim time?

o   We provide a tailor plan within your agreed budget for your needs.

o   We probably do it for less.

 

Let us think about that.

We do have also some ideas on estate planning that a contemporary wrote due to his own personal tragedy.

You can Call on 3848 1088 or Email is for those ideas as it could help those who you care for & who care for you. Discover our website.

We will have other ideas for you when we lunch here.

Remember it takes 20,000 hours to master your trade.

As we said to Mary today ‘we do for you what we would do for ourselves if we were in your financial & personal position.’

Isn’t that what you would want us to do for you?

John McAuliffe