There are a number of key insurance areas where we can provide assistance. The information below details information of types of cover, what benefits they provide, the cost, and what you should look for in the policy.
If you are unsure as to what your ideal level of cover is, we can provide assistance. In order to us to determine your needs you will need to submit some details and we can provide you with a full report on the recommended level of cover and the premiums.
Your financial adviser can help you design a comprehensive yet cost-effective insurance portfolio that will provide your family with the necessary financial support should you die or become ill or disabled.
Term Life Insurance
Term Life pays a lump sum upon the death of the life insured to provide protection to your loved ones.
In the event of the persons death the lump sum will assist in paying off any outstanding debts (ie. mortgage) and provide an income for your family so they maintain their current standard of living.
The cost of Term Life cover increases as you get older, however the older and more established your financial position is the less insurance you are likely to need. Therefore it's possible to reduce your insurance over time to minimise cost but maintain protection for yourself and your loved ones.
Total and Permanent Disablement Insurance (TPD)
An option with Term Life is to take an extension of Total and Permanent Disablement Insurance (TPD). TPD insurance provides a lump sum payment in the event of becoming totally and permanently disabled.
This can assist with extinguishing your debt and ensure adequate funds for your living expenses.
Trauma policies pay a lump sum in the event of an injury or sickness as defined in the policy, (ie. cancer, heart attack, stroke). This can be taken as a stand alone policy, or attached to a life insurance policy.
There are basic trauma policies and there are extended trauma policies that cover a greater level of events.
Income Protection is probably the most crucial and flexible insurance. Designed to replace your income if you are unable to work due to sickness or injury. Your most valuable asset is the ability to produce an income and this must be protected.
There are basic policies, which might be limiting in the time of a claim and then there are extended or plus policies which are preferred - Importantly, the cost of income protection is fully tax deductible.
Income Protection varies and can be extremely flexible, you choose the waiting period - this is how long you must be unable to work before the insurance begins to pay you. Variables are 14, 30, 60 and 90 days, 6, 12 and 24 months.
Therefore it can be tailored to cover you once any accumulated sick and long service leave are used. The benefit period is how long the policy will pay you if you are unable to work, again this can be tailored: 2 and 5 year benefit, or to a specific age, 55, 60 or 65.
Your financial adviser can help you design and implement business succession strategies that will assist you in achieving financial security for your business should one of you retire, become sick, disabled or pass away.
These strategies could help provide the necessary funding to continue the operation of your business.
In addition, your adviser can assist you on all aspects of your superannuation obligations and identify cost-effective fund options that suit the needs of you and your employees.
We can visit your staff members upon implementation, tailoring superannuation packages to the individual's personal needs.
The key to successful wealth accumulation is to set clearly defined and realistic goals and to then design a plan that will help you to achieve those goals.
Your financial adviser can help you design a tax effective plan and an asset allocation strategy (i.e. the proportion of shares, property, bonds and cash) that is tailored to your individual circumstances. This will take into account the length of time you will be investing and your willingness to accept volatility in your investments.
Should you need to accelerate your wealth accumulation plan, your adviser can show you how to use a gearing (or "borrowing to invest") strategy that does not add to your investment risk unnecessarily.
Retirement and Redundancy Planning
When you leave your job, you will receive a number of different payments. How you use those payments could have a significant impact on your financial security and your lifestyle... now and in the future.
Our Financial Advisers can design a plan that will help you to make the most of those payments.
The plan will show you how to generate competitive investment returns, maintain a secure income in retirement, minimise tax and qualify for social security benefits (if appropriate).
Your financial adviser can refer you to an on-site solicitor to help you establish appropriate wills and advise you on tax-effective estate planning strategies like testamentary trusts.
Our Financial Advisers can help you to implement an insurance portfolio should your death occur so that your family is adequately provided for.
Insurances are also useful if you need additional funds to equalise payments to beneficiaries without selling key assets.
Abou-Eid Enterprises No.2 Pty Ltd offer a comprehensive financial strategy and advisory service. Our Financial Planners can work with you and your accountant to meet your financial needs.
Having a properly prepared financial plan is imperative to meet your financial needs. Some areas addressed through the financial planning process include:
wealth creation and accumulation of assets to achieve lifestyle goals
review managed funds, shares, fixed interest, property & cash investments
taxation planning in conjunction with your accountant for the most appropriate structures and tax effective investments for the future
planning for your retirement to ensure you maintain your desired lifestyle when you retire
personal & business risk management strategies;
consolidating existing investments
many other financial issues
If you are looking at financing any plant and equipment for your business or any other business finance Abou-Eid Enterprises No.2 Pty Ltd can arrange for a lending broker to visit you and put together an appropriate package to suit your needs.
If you are looking at:
building a new home or investment property
buying an established home or investment property
Refinancing your current home or investment property loan
Abou-Eid Enterprises No.2 Pty Ltd can arrange for a lending broker to visit you and put together a competitive lending package that suits your needs.