Financial planning, Insurance, Investments & Superannuation in Hervey Bay

At Professional Investment Services (PIS), we’re continually looking for ways to help you protect yourselves and your families. Recently one of our insurance providers launched a new alternative product in the life insurance market.  Below is a recent interview with Dr Sally Phillips, Head of Underwriting and Claims at Macquarie Life to talk about “Active” the new offering available to PIS clients. 

What’s the Impact of a major health event?

All health events have three impacts; emotional, physical and lastly financial. Networks of friends and family and teams of doctors and nurses are crucial, however we should not underestimate the importance of adequate insurance in supporting a healthy recovery.

What’s the risk of suffering from a major health event?

The Cancer Council has estimated – one in three women and one in four men in Australia will suffer from cancer at some stage in their lifetime . Such a fact is sobering enough in itself; however the reality is we all face the risk of many conditions, such as heart disease, brain and nerve conditions, digestive system disorders or serious accidental injuries.

What is your view on why many Australians don’t have life insurance?

Australians are famous for our optimistic nature – our “she’ll be right” approach to life. While the vast majority of us still insure our cars and homes, the same cannot be said for life insurance. Active helps makes life insurance simple to encourage more people to make the same choices about themselves (arguably a much more important asset!).

How does Active work?

Active rolls lump sum life insurance into one simple, comprehensive product covering Death, Terminal Illness and all major health events (for example cancer, heart attack, stroke, psychiatric conditions, back disorders and many more). Unlike traditional insurance plans it pays claims based on the seriousness of the health event. The more serious the event, the larger the benefit payable. This mean you can claim on your policy more than once for progressive for unrelated heath events.

Who should consider purchasing an Active plan?

In almost all aspects of our lives, it pays to consider the “what if”: Who will pay the mortgage if you can’t work? If you weren’t around what would the family finances look like? It’s not about lamenting over these questions, but rather choosing a pro-active over a re-active approach. If you are unsure about your financial protection plan, Active’s ‘all in one’ solution is a good place to start.

How affordable is Active?

Our severity based approach to paying claims means that clients are not paying for cover they don’t need – on average this has resulted in a 25% reduction in the cost of insurance when compared to traditional products‚. For instance a male non-smoker aged 35 can buy a policy for $500,000 from $22 per weekƒ – importantly this would cover all major health events and provides the family with exceptional peace of mind.

Who is depending on you?

If you are unsure how a major health event or the death of a family member could affect your finances, talk to your PIS adviser today.

Cancer Council: (www.cancer.org.au), Cancer in Australia: an overview, 2008 Australian Institute of Health and Welfare

Macquarie Life Limited, (Inhouse research May 2010)

Occupation Class 1

1. How you think is everything – always be positive. Think success, not failure. Stay away from any negative environment or negative people.
2. Determine your true dreams and goals – write down your specific goals, develop a plan and work with the team to reach them.
3. Never stop learning – attend as much training as possible, increase your skills, take advantage of the networking and knowledge that is available to you.
4. Be persistent and work hard – success is a marathon, not a sprint. Never give up, success takes time.
5. Learn to analyse details – always get all the facts before making rash decisions. We all learn from our mistakes.
6. Focus your time and money – don’t let other people or the environment distract you.
7. Don’t be afraid to innovate – following the herd is a sure way to mediocrity. 2011 is the year of innovation.
8. Deal and communicate with people politely and effectively. Learn to understand and use this to motivate others.
9. Take action – goals are nothing without action. Make sure you get started. Like Nike, just do it.
10. 10.  Be honest and dependable, take responsibility – otherwise, numbers 1-9 don’t matter!

With the amount of natural disasters that happen in QLD and around Australia each year, the 2011 floods would be one of the most destructive QLD has even seen.  It has had a devastating effect on Queensland families and businesses from a financial, emotional and physical perspective.   Sadly, a massive percentage of these affected families and businesses were not properly insured and will never get financial compensation they so desperately need for their loss.  And what makes it worse is the knowledge that this situation could possibly have been avoided if they had appropriate insurance.

This can also be the case with life insurance.  How many times have you been in a position where you have ignored the policy benefits and selected the cheaper cover, which in most cases is the option with weaker definitions and the least ability to claim in comparison to other, more expensive products in the market?  Now is the time to review your insurances and make sure all of your policies are sufficient so they can financially survive all situations! 

If you would like further information or wish to review your current cover, please contact myself or our office on 07 4124 2499.

Shane Bradbury – Financial Planner

As a result of significant growth we seek an experienced (preferably) ParaPlanner, with the possibility of becoming a Financial Planner, who will continue to build our reputation by offering clients a personalised and committed service.

The successful individual will work directly with and support the Financial Planners who will mentor and facilitate personal development throughout all aspects of financial planning, management of clients and their portfolios. The position is focused on research, compliance and the timely production of Statements of Advice that meet the requirements of the dealer group.

You will have comprehensive computer skills in Excel and Word, with preferable working knowledge of financial planning and modelling software, preferably Xplan.

Preference will be given to experience in a previous ParaPlanning role and preferably you have completed your Diploma of Financial Services and studying towards your Advanced Diploma. As such, salary will be competitive and commensurate with experience.

Please contact our Office Manager, Ian Woodland, on 07 4124 2499 or invest@proinvest.info for further information or if you would like to apply, please forward your cover letter with resume to: Professional Investment Services, PO Box 353, Hervey Bay QLD 4655.

We’ve all got a Bucket List – whether it has been put to paper or in the back of our minds, it is a list that inspires you to save for that special something during your working life; it may be buying a boat, hot ballooning over the pyramids or travelling through Europe. The question is after all the hard work can you afford what’s on your Bucket List?

Volatility in investment markets has caused many to press pause on their retirement wish-list. Statistics are showing growth in a greying workforce as baby boomers remain in employment longer. Did you know that workers aged 65 plus have increased by 30% between 2007 and 2010^.

To help you look at the bigger picture, we can prepare a specialised client retirement plan focused on making sure you’re well positioned to afford the retirement – or Bucket List – you want.

Whatever your situation, let us guide you through tips and strategies available to provide the level of comfort you are looking for in retirement .It’s never too late or too early – and the sooner you start, the easier it is!

Interested in hearing more?

We will be holding a Special Free Presentation on the 16th of November 2010 at the Hervey Bay RSL Club. To find out more information or to make a booking, please click on this link.

To make an appointment to review your retirement income planning by contacting our office on 07 4124 2499.

What’s on your Bucket List?

Your ability to earn an income is likely to be your biggest asset in life. It’s your income that enables you to own a house, maintain a car and pay the everyday bills.

How long could you afford to maintain your lifestyle and pay for these things if you could no longer work due to illness or injury?

But it won’t happen to me ..

Having an illness or getting injured is not something we like to think or talk about. The harsh reality is that it can happen to anyone, anytime.

• 690,000 Australians were injured at work in 2005-06 and of these 43% received no form of financial assistance;
• Every day, over 65 families are impacted by an event that seriously affects their ability to earn an income.

Income Protection Insurance can protect you and your family from financial hardship ..

Income protection insurance can replace up to 75 percent of your income if you can’t work due to illness or injury. This would enable you to maintain your lifestyle while seeking medical treatment or recovering from an illness.

Income protection premiums are also tax deductible.

What should I do now?

If you would like to know more about how income protection insurance can benefit you or if you wish to review your current policy or have any other financial questions, please contact me on 07 4124 2499 or shaneb@proinvest.info

Shane Bradbury is an Authorised Representative (244677) of Professional Investment Services Pty Ltd  ABN 11 074 608 558  AFSL 234951

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