Make the most of your existing financial services
Life insurance and disability insurance through your superannuation fund is known as group cover, which is an attractive option to people who may not otherwise be able to afford it, such as those with an existing condition or a high-risk occupation.
Book an exploration session for financial advice if you fall into either of these categories.
Often individuals are underinsured because of the impact that taking out cover has on cash flow. By insuring through a super fund, you can make sure you are appropriately covered without a major impact on day-to-day cash flow. Often the level of cover is set at a default amount and is frequently unknown to the recipient.
However, insurance through your superannuation fund has its disadvantages; namely, that the automatic or default level of cover may be insufficient, leaving you heavily underinsured.
Someone who leaves a group scheme later in life without some form of continuation right may have difficulty obtaining new cover. There may also be a delay in paying out your entitlement under group cover, which can cause problems when cash flow is an issue. StrategyOne can take care of your life insurance and disability insurance financial planning, ensuring that your cash flow stays steady whilst your superannuation insurance is put into place.
The alternative is insurance held outside of super. There are numerous plans available, and more coming onto the market every month. Our certified financial planners and insurance advisors can steer you through the pros and cons, and terms and conditions of all policies to ensure you choose the right one appropriate to your circumstances. We’ll provide you with the facts so you can make your own decision.
