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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Dig deep before buying funeral insurance plan
Have you noticed how many ads there are out there for funeral insurance? It can take as few as six years for the premiums to be more costly than the funeral itself. Funeral insurance is just another form of life insurance. You are paying premiums over a period of time to deliver a lump sum at the end of your life.
Pitch life insurance as “peace of mind”
Advisers can improve their approach to selling life insurance by addressing a simple client need, Macquarie Adviser Services head of research says.
Increased superannuation life insurance jeopardises coverage
A significant increase in the number of Australians holding life insurance coverage through their superannuation has corresponded with a drop in the number of people holding a stand-alone policy, potentially exacerbating the insurance gap, according to Macquarie Life.
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The importance of considering Life and Total and Permanent Disability insurance as part of a self managed super fund (SMSF) investment approach may be gaining momentum after findings from the government driven Cooper review of the superannuation system.
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Financial advisers want more help with social media
Financial advisers are keen to further embrace social media but many would like more training in how best to use it, according to a recent Zurich Australia survey. There may not be a full appreciation of the kind of apps that are already out there, which includes information or note gathering apps, sales tools, calculators, and life insurance quoting apps.
Ask Noel
If a husband and wife die together and leave the contents of a large superannuation to be divided among various relatives, what sort of tax would the government impose on super funds left to the beneficiaries? What is the best way to minimise this tax?
A financial future to safeguard everyone
When the Future of Financial Advice legislation comes into effect there will be two classes of investors in Australia, those with old money and those with new. People with old money will have to make it work harder as their returns will continue to be eroded by commissions. Those with new money will have their investment returns protected by FOFA.
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Apple rules limit innovation
Recently minted financial services business ClearView had wanted to put a link to its website on its recently released mobile app. But Apple, which hosts the app on iTunes, wanted to take a clip of the ticket on any insurance that was then sold.
MLC in medical partnership
MLC has entered into a partnership with Australian medical software provider, Zedmed to launch Practice Management Essentials. The insurance module powered by MLC is the third module of Practice Management Essentials developed by Zedmed. The module illustrates the benefits of aligning processes between insurers and the medical industry so that life insurance applications and claim assessments are managed with greater timeliness, efficiency and accuracy to better service patients.
Total and Permanent Disability insurance also known as TPD insurance is a type of Life insurance product offered by insurance companies to Australian residents. The purpose of Total and Permanent Disability insurance is to provide financial support to the insured and their family members in the event the insured person suffers an illness or injury that renders that person totally and permanently disabled.
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Get ready for ‘FoFA on steroids’ if you’re an accountant and adviser
The Accounting Professional and Ethical Standards Board (APESB) plans to forge ahead and introduce a new mandatory standard ‘APES 230 Financial Advisory Services’ once the dust settles surrounding FoFA.
ASIC survey results strengthen need for FoFA reforms
Just days after the reforms’ passage, the Australian Securities and Investments Commission released its anonymous “shadow shopping” survey of financial planners, and its lacklustre results highlighted the need for improved financial advice.
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Key Person insurance is a type of insurance which can be used to reduce the financial impact on a business due to the loss of a person by way of death or long term disability.
A Key Person could be defined as a person who has a significant input toward the profitability of that business.
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What is Trauma insurance
Trauma insurance is a type of insurance which covers the insured person in the event they suffer a severe medical condition including heart attack, cancer and stroke. There are many other conditions covered under this type of policy, which vary from insurer to insurer. A payout to the insured from the insurer is generally made in a lump sum and usually tax free.
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ASIC, FPA, and FOS address shadow shopper report
The FPA, ASIC and FOS have partnered to deliver a series of educational workshops for advisers to combat issues found in an upcoming ASIC Shadow Shop survey.
How commission-only selling ruined the sales profession
The United States has been responsible for many great innovations but not all have turned out the way the inventors, architects or innovators intended. One such miscalculation was the introduction of “commission-only” salespeople.
BT Insurance upgrades offer
“Underinsurance in Australia occurs because for many people traditional life insurance products don’t meet their needs. What we have done is create more flexible products that reflect the changes taking place in the market,” said Phil Hay, head of life insurance.
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