Protecting your family’s lifestyle – The importance of personal insurance!
Insurance is a fundamental part of every person’s life and the most important (although most misunderstood) is personal insurance such as life insurance, disability insurance, critical illness and Income Protection insurance. Most people recognise the importance of insurance on their cars and homes but fail to realise their biggest asset (and the one most at risk) is their ability to earn an income. In Australia, over 80% of families insure their cars, but studies have shown that only 4% of families with dependent children have adequate personal insurancesa.
Your greatest asset (it’s not your home!)
Most people believe their home is their greatest asset. How long would you be able to keep your house if you were unable to work? Or needed $100,000 for medical costs for one of your family members? When you compare the fact that an average 35 year old will earn in excess of $2,900,000b before age 65 and the average Australian home is worth $468,819c, it is amazing how little people value their ability to earn an income.
How are we different?
Unlike online insurance websites, Merideon can provide you with full advice when it comes to life insurance. We pride ourselves on tailoring the best insurance strategy to meet your needs and budget. We also ensure you know your options so that you don’t just get insurance that suits this year, but continues to meet your needs in the future.
The intricacies of life insurance are great and not something you can master by completing an online calculator or from a 5 minute call on the phone…
- Should you have level or stepped premiums?
- Are you covered for your situation and occupation?
- What are the definitions for claims and do they suit your situation?
- Can you pay your premiums from your superannuation to make them tax deductible?
- Is the benefit and waiting period right?
- What exclusions are on your cover?
- Should you keep or replace your existing cover?
- Is Trauma insurance more important that TPD?
- … just to name a few.
- Given that the right insurance payout can have such a huge impact on a family, it is important that you have the right strategy for your family and this is something that takes years of training and experience to develop.
Merideon provides the advice of an experienced, professional Financial Planner who will speak to you to ensure you understand your cover and provide you with specific recommendations to meet your needs and goals. This can be completed over the phone and internet, or you can visit our offices if it is convenient.
We still offer the same great Price Guarantee that online brokers provide :
We will match or better any genuine income protection or life insurance quote that you have from another broker
However we will also provide you with a great service to ensure this important decision is based on expert advice and we will review your cover regularly to ensure it continues to meet your needs. All as part of our Free Service.
Why wait? Start protecting your family now…
To ensure we can provide you with a tailored, personal insurance recommendation we require more information about your situation and goals. Complete our Insurance Questionnaire and one of our experienced advisers will be in touch shortly.
a IFSA Research 2005
b Based on income of $50,000 indexed at 3% for 30 years.
c Australian Median House Price July 2009 – RP Data-Rismark
1 Heart Foundation, Australian Facts 2004: Heart, Strokes and Vascular diseases 2004)
2 Cancer Council: (www.cancer.org.au), Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare (published December 2008)
3 Cancer Council: (www.cancer.org.au), Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare (published December 2008)
4 Cancer Council: (www.cancer.org.au), Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare (published December 2008)
5 Australian Government, Road Deaths Australia 2007
6 Australia’s Health 2008, Australian Institute of Health and Welfare, June 2008, ING Life
7 ‘Australia’s health 2008′ Australian Institute of Health and Welfare, June 2008
8 ‘Multiple Sclerosis – a $2 billion disease in Australia’ Media release by MS Australia, www.mssociety.com.au