Your most valuable asset is your ability to earn an income, as the regular earnings enables you to fund your home mortgage, pay for the family car and provide a continuing income for your family.
Personal Insurance cover is the easiest and most cost effective means of providing financial security for you and your family in the event of death or incapacity. The premiums may also be tax deductible and can be paid monthly.
What is Personal Insurance?
It is a contract between the policy owner and the financial institution to provide money when it is most needed.
Guarantee of regular and continuous income in the event of sickness or injury:
Guarantee of a lump sum payment in the event of serious injury or a specified illness:
Guarantee of the replacement of the equivalent of a remaining lifetime of income on premature death
Income Protection
Income Protection is perhaps the single most important insurance your need to consider, for without a regular ongoing income, financial goals become difficult to achieve and sustain.
Income Protection provides a written guarantee to pay up to 75% of your income on a monthly or weekly basis for a benefit period of up to age-70, in the event of suffering an injury or illness.
Business Expenses Insurance
Business expenses gives you the confidence to seize life’s possibilities knowing that you’ve got a plan in place to keep the business running if you’re unable to work.
It covers your fixed business costs, as a monthly reimbursement, so you can focus on your recovery – and not your bills!
Life Insurance
It is the most cost effective way to clear non-deductible debt and provide a lump sum that can be invested to produce an income for your dependants.
Life Insurance can be extended to include payment of the insured benefit in the event of Total and Permanent Disablement. This benefit provides you with a lump sum payment if, because of sickness or injury, you are unlikely to be able to return to work again.
What is Trauma Insurance?
Due to the significant advances in modern medicine, it is now quite common for those who suffer a major medical condition, such as a heart attack or cancer, to achieve a full recovery. Trauma, or Critical Illness Insurance, was introduced in response to these medical advances and pays a lump sum if an extensive range of events and illnesses occur.
When selecting Trauma cover it is important to ensure the product covers the conditions that are of most concern to you, such as those that may be more likely due to your family’s medical history.
The chance of suffering an insured event, under a Trauma Insurance policy, prior to age 65 is:
Source: Pricing Dread Disease Insurance - Institute of Actuaries of Australia 2002.
David Bartels Dip. FP, Grad Cert Applied Finance & Investment,
Completed CFA I in December 2003, B. Pharm.
David Bartels is a Personal Insurance and Financial Adviser with Diarmid Mackiehan Pty Ltd. Originally from Cunnamulla in Western Queensland, his first career was as a Pharmacist in Queensland, England and Ireland.
He chose to join Diarmid Mackiehan Pty Ltd because of its proven reputation for integrity and achieving the best outcomes for clients. It is a family business which has been operating for over 40 years and the professional relationships and friendships with many of the original clients continue to this day.
With my professional assistance, you will find that it is not difficult to set up a personalised risk management strategy to ensure that you are prepared for the unexpected. I find with most clients, the hardest part is taking that first step to make the decision to get your financial affairs in order.
I am able to advise upon the contracts of a vast number of products insurance companies offer and ensure that you have appropriate well-structured insurance, whilst saving you time and ensuring your premiums are competitive and tax-effective.
Should you require a claim I am also ready to assist you and your family throughout the entire claims process for your peace of mind and reassurance when it is required most.
I am also able to work closely with your financial planner, accountant and solicitor to develop and implement an appropriate insurance portfolio designed specifically for your needs.
For more information regarding Personal Insurances or an obligation-free quote, please contact David on Tel: (07) 3221 8533 or email: david@bmm.net.au
