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by Richard Hill
As a financial adviser, an important part of my value proposition to clients is to be able to provide sound financial structuring advice and to recommend underlying investments in order to achieve their goals and objectives, within their stated risk profile.
However, an equally important part of my duty, is to bridge the potential gap between a client’s current financial position and their targeted financial goal – we do this with life insurance, which provides your loved ones with the comfort and security of knowing that their financial well being is assured, in the unfortunate event of an illness or injury effecting the family.
Life insurance includes:
  • Term life
  • Total & Permanent disability
  • Critical illness/Trauma
  • Income Protection
  • Child Trauma
  • Business Expense insurance
In order to ascertain the appropriateness of both the type of cover and the level of cover for your particular circumstances, we undertake a detailed analysis of:
  • Current financial position, i.e assets and liabilities, and
  • Income and expenditure,
  • Family situation
  • Existing insurance within your superannuation fund, if any
  • Health history
This exercise only takes 30 minutes and with the specifically designed software we use, a full needs analysis can be quickly generated from this information. It is then possible to determine the cost of the recommended insurance. For this, we use independently designed insurance analysis software, which compares all the major insurance companies in Australia, and ranks them according to how good their policies are for your particular profile, and details the exact cost of the insurance cover.
As an insurance broker, we then identify the most appropriate company at the most competitive premium where possible. This means you are being recommended a wellpriced policy, which provides excellent policy definitions and cover for your circumstances. Detailed discussions normally take place at this point to modify the cover in accordance with your budget, and to consider some of the additional options available on the policies.
The paper work and medical aspects of your insurance application is all done for you:
1. We complete the application form during a 30 minute interview with you during which time we record your lifestyle, work and medical history.
2. Medical requirements, if any, are paid for by the insurance company, and most often involve either:
  • A PMAR or Personal Medical Attendants Report which simply means your doctor is asked to confirm your medical history, or
  • A blood test or
  • Blood test and basic health check, all of which are done at a time and place of your choice…even at your home, or
  • For higher levels of cover or where pre-existing medical conditions are present, a full medical by your doctor or specialist may be required. The insurance company pays for all of these examinations.
3. A comprehensive Statement of Advice detailing the cover recommended, the insurance company recommended, the cover you have selected, the premiums payable, the commissions earned and how this cover has been determined is all provided to you within this service proposition.
During our discussions with you, we will also discuss the importance of Wills and Enduring Powers of Attorney, which are crucial documents to safeguard your loved ones and ensure the right funds are placed into the right hands at the right time.
Please ask yourself these questions :
  • Do you have loved ones?
  • Can you afford insurance cover?
  • Can you afford not to have insurance cover?
Death and sickness often comes unexpectantly and we cannot wind back the clock after it has happened. Speak to us whilst you are fit and healthy, when insurance is inexpensive and easy to acquire……don’t leave it until it’s too late…..protect your most important asset…..protect your family and your income!
General Advice Disclaimer This article has been prepared on a general advice basis only. The information has not been prepared to take into account your specific objectives, needs and financial situation. The information may not be appropriate to your individual needs and you should seek advice from your financial adviser before making any investment decisions.
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Posted by Richard Hill
01 Aug 2007

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Hi Richard, I have been trying to get a retirement annuity pay out from Old Mutual SA for over 18 months. They say Nedbank has not approved cash transfer. Nedbank ignore my e-mails. Do you know how to get the pay out cleared in SA? I want to buy a pension is Aussie with the funds. If I put the funds straight into a pension can I avoid tax in Aussie?
Rating: 5 / 5
by Errol Drummond on 13 Jan 2008

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