NewsDeath and Disability Insurance and Your Superannuation Fund

All Australians are currently required to have a superannuation policy. Many of those compulsory policies include death and disability cover, but some don’t. You may, however, purchase death and disability insurance through your super fund if you don’t have it yet.

When Can You Collect?

Nobody likes to think of death or disability, but they are events that happen to someone every day. Many find it comforting to know that they are prepared that if they are disabled and can’t work, they will have enough money to live on for the rest of their lives. Obviously, death is easy to prove. But when is one considered disabled?

Disability standards can differ from state to state or insurance company to insurance company, but there are some typical standards and tests that are a good guideline of what to expect if you do become unable to work.

One of the basic tests for collecting disability insurance is whether or not you can earn income through your own physical efforts for any occupation in which you are reasonably qualified to participate due to experience, training or education. Another way of expressing this is whether or not you are able to make two thirds of your present income through physical exertion.

Once you are deemed disabled, you will be able to collect your funds and enjoy them tax free.

Approved Financial Planners Have You Covered

When it comes to insurance or financial planning, there is no “one size fits all“ solution. That is why we encourage you to call us and make an appointment to discuss your specific and individual needs. We specialise in being a complete, one stop solution to all of your financial needs.

We have a seven step process which ensures that your individual needs are met. First, we provide a face to face, free consultation with no obligation. Then we gather information about your lifestyle and income, establish your goals, create a strategy and let you review it. Once you give the OK, we proceed.

Contact us today on (08) 6462 0888.