General Insurance Information

How Your Premiums Are Calculated: Ever wondered how insurers work out the cost of your life insurance? There are many factors that can impact the premium you pay, but there are 4 factors in particular you need to be aware of. 1. Your personal risks 2. Your age and gender 3. The more protection you have, the higher the cost of your cover 4. Whether you’ve chosen to pay stepped or level premiums A number of other factors may influence your premium, including: 1. Your personal risks  Dangerous occupations can attract a higher base rate for your insurance, even before any loadings are applied. Poor health (such as a high Body Mass Index, or BMI) as well as dangerous hobbies, may add what’s called a ‘premium loading’ to your cover – which means you pay a higher premium than someone who doesn’t have those risk factors. Any loadings like these are recorded on your Policy Schedule. In terms of your health [...]

By |2019-11-13T13:58:38+11:00November 15th, 2019|Insurance|0 Comments

9 Myths about Life Insurance

9 Myths about Life Insurance Myth # 1 – Life insurance companies don’t pay claims There’s a common perception that life insurance companies will do everything they can to avoid paying claims. In fact, 92% of all life insurance claims are paid in the first instance. And OnePath Life has paid 93% of claims for policies taken out with a financial adviser during 2018. As long as you fulfil your duty of disclosure when you apply for cover, and you’re covered for the medical condition you’re claiming for, you should be confident your claim will be paid. Myth # 2 – I'm young and don’t have kids or a mortgage, so I don’t need it Life insurance isn’t all about providing for debts and dependants. It’s also about looking after yourself. Think what would happen if you became ill or disabled and couldn’t work. Would you ask your parents to bear the financial burden? Or would you rather have income protection to help [...]

By |2019-11-13T13:39:28+11:00November 13th, 2019|Insurance|0 Comments

First Home Buyer Financing Tips

It’s a daunting world for the first home buyer; skyrocketing median house prices, interest rates and an influx of lending platforms can scare off would-be home owners. Many wonder how they will save a deposit large enough to outbid seasoned investors, and parents feel helpless watching their children’s dreams of owning a home slip away. It can feel like one step forward, two steps back when it comes to saving your first deposit. Fortunately, there are many strategies we utilise to remove stress and get your child into the market right away. The guarantor structure is a great way to boost your child’s purchasing power without laying down your own cash. This strategy is perfect for home owners who have a bit of extra equity in their home, but who are hesitant to hand over their savings or borrow against the family home. You are able to access your home’s equity to secure a portion of the new property, [...]

By |2019-03-12T11:25:38+11:00July 26th, 2018|Insurance, Tips and Other News|0 Comments

Why Everyone Needs A Will, Especially Parents

Every now and then I come across an article which all of my clients should know about and this article from Caitlin Fitzsimmons is no exception. I totally agree with Caitlin that every parent with kids under 18 need to have a will and for good reason. Please have a read of Caitlin Fitzsimmons Why everyone needs a will, especially parents.

By |2019-03-12T11:25:39+11:00February 9th, 2017|Insurance, Tips and Other News|0 Comments
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