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Insurance Review

Insurance Review

Did you know?

  • 1 in 3 Australians will be diagnosed with cancer within their lifetime
  • medical costs for cancer can cost up to $427,000 per annum in some cases
  • 83% of us insure our cars but only 31% of us insure our income.
  • Dissatisfaction of insurance claim outcomes is as high as 45% with some basic insurance providers

Research shows that a significant portion of Australians could survive less than one month without their income before needing to sell assets. Everyone loves a good surprise, but it also pays to be prepared if things don’t turn out as expected!

Why have a risk plan in place?

It’s amazing how quickly things change. Families grow, homes are upsized or downsized, kids grow up and move out (or back in!) and everything else in life just happens along the way. How do you look after what’s really important?

When your lifestyle changes, including income and debt levels, your insurance cover should do so as well. A recent report* reveals that 95% of families aren’t adequately insured. This could be because your cover hasn’t kept pace with your needs or because your existing arrangements may only pay a benefit in very limited circumstances, such as automatic insurance inside super or cheap online policies which do not require medical assessment. It is not just the level of cover that is important but also the quality.

If this is you then you should look to address these issues as a matter of urgency – get an Insurance Review.

* Lifewise/NATSEM Underinsurance Report 2014

 Why McKinley Plowman?

At McKinley Plowman we help clients to review their risk exposure and implement a personalised solution that will ensure you and your loved ones have peace of mind in the event of the unexpected.

We will help to identify the minimum level of cover necessary to meet your needs as well as conduct a health check on your existing arrangements so we can let you know what you are covered for and what you’re not.

McKinley Plowman can help you to review and implement the following types of risk protection:

  • Life and total permanent disability (TPD) cover
  • Income protection
  • Trauma and critical illness cover
  • Business succession buy/sell cover
  • Business key person cover

Take action today! For a complimentary review of your risk plan and insurance arrangements – contact us here.

General advice warning:  The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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