Welcome to our new Life Insurance & Financial Planning Division.

We all know the importance of protecting our business from unexpected events such as weather and fire but have you ever stopped to think what might happen in the event the business owner were unable to work due to health reasons?  

Life Insurance is there to protect you, your family and your business in case of sickness or accident.  

Insurance Advisernet Financial Services has a team of specialists that can help structure personal insurance policies in a tax effective manner in the following areas:

Life Insurance          

• A lump sum amount to assist your family in the event of a fatal accident.

Total and Permanent Disability         

•  In the event you are Total and Permanently Disabled and not able to return to work a lump sum is paid to assist with modifications to your home, nursing care and reduce personal debt.

Trauma and Critical Illness Cover      

• Trauma cover provides a lump sum if you are diagnosed with one of a range of specified conditions including stroke, cancer and heart attack. This can ease the financial pressure and provide money for special treatment.

Income Protection        

•  If due to a specified injury or accident you are unable to work, income protection provides up to 80% of your salary paid as a monthly benefit until you recover or if unable to recover through to age 65.

Business Expense Cover         

• Provides up to 100% of the life insured’s monthly business expenses. The cover can provide up to $50,000 a month business expenses for up to a benefit period of 2 years.

Child Cover         

• It is now possible to insure your children for specified trauma conditions up to $150,000. Families often underestimate the time out of the work force needed to help children recover. Child cover can ease this burden.

Group Income Protection         

•  Employers looking to protect their staff income can do so under a group income protection scheme. The cost can be taken up by the employer or spread across the employees as part of a salary package.

Key Man Cover        

• If one or two people are the key drivers of income in your business then you need to consider the financial impact if they were struck down by an illness or fatal accident. A lump sum benefit can replace lost income to the business and find a potential employee replacement.

Buy/Sell Agreement         

• If your business has more than one business owner then the business should enter into a shareholder agreement that outlines what would happen should one of the owners become disabled, critically ill, resign, retire or die. This is effectively a will for the business and allows the exiting shareholder to be paid his share of the business on exit. Often the business will not have sufficient equity to fund an exiting shareholder and an insurance policy serves to fill this need.

If you would like assistance on how to structure and implement your life insurance please contact your General Insurance Adviser or contact:

Ben Semple - General Manager Financial Services

Phone: (02) 99647329  or Email: bsemple@iaa.net.au.