Insurance Brokers Perth
You never want to think about what would happen if you weren’t here tomorrow to take care of your family or dependents, but the reality is everyone needs to think about it. In order to create a secure financial future, we need to put things in place today. Not tomorrow, or next week, or next year. Today.
At Luda Financial Solutions, our insurance brokers in Joondalup will help you ensure that your family is taken care of if the worst were to happen.
Once we’ve established your cash flow management and we’re able to determine what your future financial needs and goals look like, we’ll look at the various kinds of personal insurance which may be relevant to your circumstances.
Some of the insurances we may recommend for you include life insurance, total and permanent disability (TPD) insurance, trauma cover and income protection.
Our insurance brokers in Perth consider every aspect of your personal insurance including what sort of underwriting takes place and whether the policy should be held inside or outside your superannuation fund.
There are some benefits to holding certain insurance policies inside your superannuation such as the tax relief you get on your contributions, the ability to pay for your premiums from your super fund directly (which helps your cash flow planning), and when it comes to estate planning, you can nominate a beneficiary of the fund in the event of your death.
However, there can also be drawbacks to holding some insurance policies within a super fund. These can include the erosion of your super fund if you are using it to cover premiums, a smaller choice of insurance providers as the super fund will only work with certain insurers, and tax implications if certain events or conditions are triggered.
My P Plater
If you have teenagers who have recently passed their driving test, you may like to talk to us about our personalised ‘My P Plater’ insurance strategy. It’s designed to insure your child in the event they were involved in an accident that results in temporary or permanent disability, and other conditions such as the loss of a single limb, severe burns, major head trauma or a coma. You as the parent are the policy holder and your child is the insured person, but as they grow older you can choose to transfer the policy to them. The policy could cover expenses like medical needs and alterations to your home to accommodate your child’s disability. These expenses can run to hundreds of thousands of dollars and can financially ruin an unprotected family.
Speak to a financial advisor at Joondalup’s Luda Financial Solutions and discover how you can secure your family’s financial future today.