Income Protection - Financial Advisor Recommendation

Discussion in 'Superannuation, SMSF & Personal Insurance' started by ItsMe1985, 7th Jun, 2021.

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  1. ItsMe1985

    ItsMe1985 Member

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    13th Aug, 2016
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    Location:
    Melbourne
    Hi all, looking for a recommendation for a financial advisor who can set us up for appropriate PI, TPD, Life insurances.
    We will most likely need PI insurance outside super so someone who has a background in tax minimization strategies.

    Thank you in advance.
     
    ItsMe1985, 7th Jun, 2021
    #1
    Never giveup likes this.
  2. wylie

    wylie Moderator Staff Member

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    Brisbane
    We've been dealing with Jason Nairn for many years now. I don't think I've ever met him in person, but possibly we did meet him when he first took over from the broker we had been with, and who retired. All our dealings are via phone and email. He is quick to respond.

    Jason is an insurance broker and financial adviser. We will be seeing him in conjunction with our accountant once our rent is flowing well enough that we have spare money to invest somewhere.

    Image 7-6-21 at 2.57 pm.jpg
     
    wylie, 7th Jun, 2021
    #2
  3. Never giveup

    Never giveup Well-Known Member

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    Sydney
    Hi @ItsMe1985 ,

    Did you manage to get your insurances sorted? Who dis you go with?

    @wylie - Thank you for sharing your experience.
     
    Never giveup, 28th Feb, 2022
    #3
    wylie likes this.
  4. SatayKing

    SatayKing Well-Known Member

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    I believe moves are afoot within the insurance industry for those who hold income protection insurance to use all bar 30 days of available sick leave before paying out one cent. You'll likely still pay the same premium however.
     
    SatayKing, 7th Mar, 2022
    #4
  5. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Most advisers will suggest strategies around available leave and wait periods. If a person has 6 months sick/LSL and annual leave then having a 60 days wait period and lower premiums is common sense. Quoting a 30 days wait would be poor financial advice and not within best interest of the policyholder. Wait periods can be longer than 60 days and could be as much as 2, 4 or 13 months or even 2 years. Depends on the policy benefit period too. If the policy covers two benefit years its different to a policy that pays to age 65. Depends on persons age then. Someone 64 may find such a policy ineffective.
     
    Paul@PAS, 8th Mar, 2022
    #5