If you run a business then chances are that you are well aware that your employees are your biggest asset. Irrespective of the size of your company, the people who work for you are precious since they manage the show and take care of various things for you. If you have found an employee or a few employees that have a higher level of competence than the others then you may notice increased profits and an improved customer relationship with important clients. In such cases, you should take care of this employee or employees since doing this can in turn ensure that your business runs smoothly at all times.
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How brokers can solve Australia’s underinsurance problem
Small businesses in Australia remain woefully under-insured, with the latest research unveiling the shocking extent that many firms have insufficient or no cover in vital areas. How can brokers reverse this trend?

Zurich weighs into clawback debate
Insurance heavyweight Zurich has set out its position on the FSC’s controversial clawback plans, and its views may offer some hope to financial advisers.

Risk advisers facing an opt-in dilemma
The opt-in requirement will touch the day-to-day operations of risk advisers who have switched to some form of fee remuneration model, writes Sue Laing. With the passing of the Future of Financial Advice legislation amendments now behind us and implementation less than 12 months away, many life risk advisers will soon be tackling an important decision. Over the past several years there has been strong encouragement for commission-based models to transition to fee-based, or fee and commission-based, advice.
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Life Insurance, Income Protection, Trauma insurance and Total & Permanent Disability insurance (TPD) at some stage could play important role in our lives. If you already have or are in the process of getting some or all of these insurances, the following may be worth considering.

1. Price – Life insurance is generally priced on the products, features and terms of the insurance, the more they offer the more expensive they will be. In this case cheapest is not always the best especially if a claim occurs.

2. Insurance companies actually do pay claims, if they are legitimate and you meet the terms and conditions of the policy and you disclosed correct and accurate information when first taking out the cover.
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What is it?

Life insurance is a product used to provide financial compensation to families or business in the event of death or terminal illness.

It is the most commonly known and understood of the range of life insurance products.

The cost of insurance varies due to your age, occupation, health, smoking status and sex.
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What is it?

Income Protection insurance – provides a benefit of generally up to 75% of your taxable earnings if you are unable to work due to illness or injury.

Premiums vary depending on occupation, smoking status and age and are generally tax deductible and benefits received are assessed as income.
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Income Protection policies have generally had ownership outside of superannuation up until mid July 2007, when the removal of Reasonable Benefit Limits (RBLs) was introduced prompting an increase in the amount of people taking life insurance through their super with the follow on effect of this being the increase in Income Protection being held within the super environment.
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Life insurance products have been around for many decades with these products being improved & updated on an ongoing basis. This has provided additional benefits & therefore better cover to current & future policy owners.

The same can be said for the underwriting guidelines allowing for a greater number of people qualifying for cover compared to historical figures. Underwriting is the process by which the insurer determines medically whether or not cover will be issued to you & if so under what terms.
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To take the hassle out of finding the right policy for you, here is a list of five commonly asked questions by people who are taking out life insurance.

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Underinsurance in the Australian Life insurance industry is becoming a growing concern.

For individuals having adequate Life Insurance and Income Protection Insurance is one of the most important parts of a financial plan.
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What are my options to obtain a Life Insurance quote?

There are various ways to obtain a life insurance quote, some of these include:

Online insurance brokers who will request information via an online quotation request form which will require information including name, date of birth, occupation, earnings and type of cover required. They will generally use a range of various insurers to provide a life insurance quote to you.
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